HomeMy WebLinkAboutRESOLUTION NO. 2006-27 7
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FOR THE
PAYMENT OF GENERAL OBLIGATION DEBT DUE JUNE 1, 2006
Be it enacted by the City Council of the City of Fairfax, Iowa:
Section 1. Principal and interest due on $465,000 General Obligation Combined
Corporate Purpose Loan Note Series 2003, dated March 1, 2003 as follows:
a. Transfer Order: $6,083.75 from the TIF' Fund to the Debt Service
Fund. Purpose of note: Library Repairs/Reassigned to WWTF.
b. Transfer Order: $39,506.25 from the General Fund, Fire Department
Budget to the Debt Service Fund. Purpose of note: Fire Equipment
Purchase.
Section 2. Principal and interest due on $1,185,000 General Obligation Corporate
Purpose Loan Note Series 2001, dated June 1, 2001 as follows:
a. Transfer Order: $99,131.25 from the TIF'Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project/Reassigned
to WWTF.
Section 3. Principal and interest due on $450,000 General Obligation Water Note Series
2001, dated October 1, 2001 and follows:
a. Transfer Order: $33,376.25 from the T'IF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project/Reassigned
to WWTF,.
Section 4. Principal and interest due on $700,000 General Obligation Wastewater Note
Series 2004, dated December 1, 2004 as follows:
a. Transfer Order: $32,681.25 from the TIF Fund to the Debt Service
Fund. Purpose of note: Wastewater Improvement Project.
Section 5. Principal and interest due on $650,000 General Obligation Sanitary Sewer
Improvement Note Series 2005, dated October 1, 2005
a. Transfer Order: $11,003.75 from the TIF Fund to the Debt Service
Fund. Purpose of note: Sanitary Sewer Improvement Project,
Section 4. Total transfers by fund:
a. From TIF Fund to Debt Service Fund: $182,276.25
b. From Fire Department Budget to Debt Service: 39,506.25
Total transfer of all funds to Debt Service: $221.782.50
NOW,THEREFORE, BE IT RESOLVED, By the City Council of the City o
Fairfax, Iowa, that the Mayor and City Clerk are hereby authorized and directed to
execute said Resolution.
Passed and approved this day of 'vI , 2006.
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AYES,,. ��,��•• .. ���� ; > � ,�<� �,� ��'
NAYS:
ABSENT: '
Bill Voss, Mayor
ATTEST:
' ,,� �'� '"'✓ ate:�,+'�•`�:',
6nnie rame, City Clerk
The foregoing Resolution No. having been approved this date by the
City Council, I he approve approve the same by affixing my signature as City Clerk on this
` _day of , 2006.