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Home My WebLink AboutRESOLUTION NO. 2005-50 RESOLUTION NO. L� A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS.FOR THE. PAYMENT OF GENERAL OBLIGATION DEBT DUE DECEMBER 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: $1;083.75 from the TIF Fund to the Debt Service Fund. Purpose of note: Library Repairs. b:: Transfer Order: $4,506.25 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 Note Series 2001, dated June 1, 2001 as follows: a, Transfer Order: $24,131.25 from the TIF 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: .$8,376.25 from the TIF Fund to the Debt Service Fund. Purpose of note: Water Main Construction Project. Section 4. Interest due o $700;000 General Obligation Wastewater Note Series 2004, dated December 1, 2004 as follows: a. Transfer Order: $25,362.50 from the TIF Fund to the Debt Service Fund. Purpose of note: Wastewater Improvement Project. Section 5. Interest due on $650,000 General Obligation. Sanitary Sewer Improvement Note Series.2005, dated October 1, 2005 a. Transfer Order: $3,667.92 from the Seer Fund to the Debt Service Fund. 'Purpose of note: Sanitary Sewer Irnprovement.Project. Section 4. Total transfers by fund: a. From TIF Fund to Debt Service Fund: $58,953.75 b. From Fire Department Budget to Debt Service: 4,506.25. c. From Sewer Fund to Debt Service Fund 3;667.92 Total transfer of all funds to Debt Service:. $67,127.92 . 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 ofd C ?, 1,2005. AYES: �� - • NAYS: kl &� _ C Bill Voss, Mayor ATTEST: W-�n-naic-Frarne, City Clerk The foregoing Resolution No. ) having been approved this date by the City, ouncil;I tqreby approve the same by affixing my signature as City Clerk on this '� day of 2005.