HomeMy WebLinkAboutRESOLUTION NO. 2006-89 i
RESOLUTION NO. ZbOb-
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FOR THE
PAYMENT OF GENERAL OBLIGATION DEBT DUE DECEMBER 1, 2006
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: $1,036.25 from the 'TIF Fund to the Debt Service
Fund. Purpose of note: Library Repairs.
b. Transfer Order: $4,173.75 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: $22,406.25 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: $7,913.75 from the TIF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project.
Section 4. Interest due on '$700,000 General Obligation. Wastewater Note Series 2004,
dated December 1, 2004 as follows:
a. Transfer Order: $12,466.25 from the TIT"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: $11,003.75 from the Sewer 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:. $73,796.13
b. From Fire Department Budget to Debt Service: 4,173.75
Total transfer of all funds to Debt Service: $77,969.88
NOW, THEREFORE, BE IT RESOLVED, By the City Council of the City of
Fairfax, Iowa, that the Mayor and Acting City Clerk are hereby authorized and directed to
execute said Resolution.
Passed and approved this day of N�? f , 2006.
AYES:
NAYS:
ABSENT:
Bill Voss, Mayor
ATTEST:
14v\w A&'�',
Nancy lickinger, Acting Clerk
The foregoing Resolution No. 200 -kq having been approved this date by the
City Council, T 4ereby approve the same by affixing my signature as City Clerk on this
1 day of �diV�l , 2006.
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