HomeMy WebLinkAboutRESOLUTION NO. 2008-54 - TRANSFER FOR PAYMENT OF GO DEBT DUE 12-1-08 RESOLUTION NO. 2008-54
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FOR THE
PAYMENT OF GENERAL OBLIGATION DEBT DUE DECEMBER 1, 2008
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: $850.00 from the TIF Fund to the Debt Service
Fund. Purpose of note: Library Repairs/Reassigned to WWTF.
b. Transfer Order: $3325.00 from the General Fund, Fire Department
Budget to the Debt Service Fund. Purpose of note: Fire Equipment
Purchase.
Section 2. Interest due on $780,000 General Obligation Corporate Purpose & Refunding
Note Series 2008B, dated April 1, 2008 as follows:
a. Transfer Order: $16, 760.00 from the TIF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project/Reassigned
to WWTF.
Section 3. Interest due on $560,000 General Obligation 'Sanitary Sewer & Refunding
Note Series 2008A, dated March 1, 2008 as follows:
a. Transfer Order: $12,390.00 from the TIF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project/Reassigned
to WWTF.
Section 4. Interest due on '$700,000 General Obligation Wastewater Note Series 2004,
dated December 1, 2004 as follows:
a. Transfer Order: $11,456.25 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 as follows:
a. Transfer Order: $9,918.75 from the TIF Fund to the Debt Service
Fund. Purpose of note: Sanitary Sewer Improvement Project.
Section 6. Interest due on $800,000 General Obligation Urban Renewal Land
Acquisition Note Sereics 2006, dated October 11, 2006 as follows:
a. Transfer Order: $11,593.75 from the TIF Fund to the Debt Service
Fund. Purpose of note: Urban Renewal Land Acquisition.
Section 7. Total transfers by fund:
a. From TIF Fund to Debt Service Fund: $56,931.25
b. From Fire Department Budget to Debt Service: 3,325.00
c. From WW'TF Fund to Debt Service Fund 6,037.50
Total transfer of all funds to Debt Service: $66,293.75
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 I I th day of November, 2008.
AYES: Beer, Frieden,Magers,Rabe, Wainwright
NAYS: None
ABSENT: None
Bill Voss,Mayor
ATTEST:
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k � r -�n WA�J-
Vickie Kindl,City Clerk