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1 Ogden Municipal Building Authority Meeting: May 16, 2017 PROPOSED FY2017-18 BUDGET - MUNICIPAL BUILDING AUTHORITY Action: Accept for Review and Set Public Hearing for June 6, 2017 Executive Summary The Administration will present the FY2017 Municipal Building Authority Budget. The Board will consider setting a public hearing on the Budget for June 6, 2017. Background Each year the Mayor, acting as President of the Municipal Building Authority (MBA), presents the Tentative MBA budget at the first MBA meeting in May as required by state law. State law also requires that the budget be adopted not later than June 22. The Municipal Building Authority was created as a nonprofit corporation on November 17, 1992 under the authority of the Utah Nonprofit Corporation and Co-operative Association Act and the Utah Municipal Building Authority Act. The purpose of the MBA is to acquire, improve or extend one or more projects and to finance the costs on behalf of the City. The Governing Board of the MBA is comprised of all members of the Ogden City Council as Trustees. The Chair of the City Council serves as the Chair of the MBA Board. Proposal The current proposal is to set a public hearing on the FY2017-18 MBA budget totaling $549,125 as proposed. A work session will be held May 23, 2017 to review and discuss the proposed budget. The MBA Budget will be posted on the City’s website at www.ogdencity.com by 10:00 a.m. on May 17, 2017. The line item budget was posted May 3, 2017. Staff Contact: Janene Eller-Smith, (801)629-8165 ---PAGE BREAK--- RESOLUTION NO. RESOLUTION OF THE BOARD OF TRUSTEES OF THE OGDEN CITY MUNICIPAL BUILDING AUTHORITY ADOPTING THE ANNUAL BUDGET FOR FISCAL YEAR 2017-2018. WHEREAS, the Board of Trustees of the Ogden City Municipal Building Authority has caused an annual budget to be prepared for the Fiscal Year 2017-2018; and WHEREAS, the Ogden City Municipal Building Authority has adhered to appropriate public hearing requirements as required by law; and NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees of the Ogden City Municipal Building Authority that the budget for FY 2017-2018 be approved, adopted and made part of this resolution as Attachment PASSED AND ADOPTED by the Board of Trustees of the Ogden City Municipal Building Authority this day of 2017. Chair ATTEST: Tracy Hansen Ogden City Recorder APPROVED AS TO FORM: LEGAL DATE 2017-1