HomeMy WebLinkAboutRESOLUTION NO. RESOLUTION NO. 2020-61 RESOLUTION NO. 2020-61
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM
THE SEWER FUND TO THE LOCAL OPTION SALES TAX FUND
WHEREAS, the City Council authorized the transfer of$70,000 as an interfund loan to
the Sewer Fund from the Local Option Sales Tax Fund as of June 30, 2017; and
WHEREAS, the City Council of the City of Fairfax, Iowa, wants the Sewer Fund to pay
this money back when possible; and
WHEREAS, the City Council has budgeted $10,000 to be paid back during Fiscal Year
2021, so the city clerk has submitted the following transfer for approval:
Section 1. Transfer Needed:
a. From Sewer Fund to Local Option Sales Tax Fund: 10,000.00
Total to Transfer $10,000.00
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Fairfax,
Iowa, that the city clerk/treasurer is directed to make this recommended transfer.
BE IT FURTHER RESOLVED, that the Mayor and City Clerk/Treasurer are hereby
authorized and directed to execute said resolution.
Passed and approved this 14t" day of July 2020.
AYES: Otto, Daly, Pacha, Volk, and Wainwright
NAYS: None
Burnell G. Frieden, Mayor
ATTEST:
Cy thia K. Stimson, City Clerk/Treasurer ` '
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