HomeMy WebLinkAbout2009-21 TRANSFER OF FUNDS PAYMENT OF GO DEBT DUE JUNE 1, 2009 SOLUTION NO.
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FOR THE
PAYMENT OF GENERAL OBLIGATION DEBT DUE JUNE 1, 2009
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: $10,850.00 from the TIF Fund to the Debt Service
Fund. Purpose of note: Library Repairs/Reassigned to WWTF.
b. Transfer Order: $38,325.00 from the General Fund, Fire Department
Budget to the Debt Service Fund. Purpose of note: Fire Equipment
Purchase,
Section 2. Interest due on '$7'80,000 General Obligation Corporate Purpose & Refunding
Note Series 200813, dated April 1,2008 as follows:
a. Transfer Order: $97,570.00 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 Murch 1, 2008 as follows:
a. Transfer Order: $34,235.00 from the TIF Fund to the Debt Service
Fund. Purpose of note: Water Main Construction Project/Reassigned
to WWTF..
b. Transfer Order: $4,025.00 from the WWTF Fund to the Debt
Service Fund. Purpose: Sanitary Sewer Improvements
Section 4. Interest due on $700,000 General Obligation Wastewater Note Series 2004,
dated December 1, 2004 as follows:
a. Transfer Order: $51,456.25 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: $84,918.75 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 Series 2006, dated October 11, 2006 as follows:
a. Transfer Order: $206,593.75 frons.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: $485,623.75
b. From Fire Department Budget to Debt Service: 38,325.00
c. From WWTF Fund to Debt Service Fund: 4,025.00
Total transfer of all funds to Debt Service: $527,973.75
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 day of 2009.
AYES: t
NAYS: Aftl
ABSENT:
Bil 'doss, Mayor
ATTEST:
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Nancy F ickinger, City Clerk