HomeMy WebLinkAboutRESOLUTION NO. 2007-24 __ ....... .........
RESOLUTION NO. 0 r
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FOR THE
PAYMENT OF GENERAL OBLIGATION DEBT DUE JUNE 1,2007
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: $6,036.25 from the T'IF Fund to the Debt Service
Fund. Purpose of note: Library Repairs/Reassigned to WWTF.
b. Transfer Order: $39,173.75 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: $97,406.25 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: $37,913.75 from the 'TIF 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: $52,466.25 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: $204,826.25
b. From Fire Department Budget to Debt Service: 39,173.75
Total transfer of all funds to Debt Service: $244,000.00
NOW,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 ,2007.
AYES:;
NAYS:
ABSENT:
Bill'Voss,Mayor
ATTEST:
Vickie Kin 1, City Cler
The foregoing Resolution No. 7 �_ having been approved this date by the
City Council, I hereby approve the same by affixing my signature as City Clerk on this
day of , 2007.