HomeMy WebLinkAboutRESOLUTION NO. 2005-17 RESOLUTION NO.
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FOR THE
PAYMENT OF GENERAL OBLIGATION DEBT DUE JUNE 1, 2005
Be it enacted by the City Council of the City of Fairfax, Iowa:
Section 1. Interest due on $465,000 General Obligation Combined Corporate Purpose
Loan Note Series 2003, dated March 1,2003 as follows:
a. Transfer Order: $6,130.00 from the TIF Fund to the Debt Service
Fund. Purpose of note: Library Repairs,
b. Transfer Order: $39,830.00 from the General Fund, Fire Department.
Budget to the Debt Service Fund. Purpose of note: Fire Equipment
Purchase.
Section 2. Interest due on'$1,185,000 General Obligation Corporate Purpose Loan Nate
Series 2001, dated June 1, 2001 as follows:
a. Transfer Order: $95,741.25 from the T'IF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project.
Section 3. Interest due on $450,000 General Obligation Water Note Series 2001, dated
October 1, 2001 and follows:
a. Transfer Order: $33,801.25 from the TIF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project.
Section 4. Total transfers by fund:
a. From TIF Fund to Debt Service Fund: $135,672.50
b. From Fire Department Budget to Debt Service: $39,830.00
Total transfer of all funds to Debt Service: $175,502.50
THEREFORE, BE IT RESOLVED, By the City Council of the City of Fairfax, Iowa,
that the Mayor and City Clerk are hereby authorized .and directed to execute said
Resolution.
Passed and approved this day of Matl 20Q5.
AYES: 0 9
NAYS:
ABSENT: �
The foregoing Resolution No. %'✓ having been approved this date by the
City Council, I hereby approve the same by affixing my signature as Mayor on this
day of a , 2005.
ill Voss, Mayor
ATTEST:
Connie Frame, City Clerk