HomeMy WebLinkAboutRESOLUTION NO. 2013-02RESOLUTION NO. 2013-02
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS
WHEREAS, the City Council of the City of Fairfax, Iowa, has contracted and bonded
for the Phase I, Phase II, and Phase III Water Main Replacement Projects; and
WHEREAS, there are some excess funds in the Phase I and Phase II bond funds; and
WHEREAS, the City Council of the City of Fairfax, Iowa, wishes to transfer those
excess funds to the Phase III Water Main Replacement Project bond fund; and
WHEREAS, with these additional funds to going towards Phase III Water Main
Replacement Project and with that project's final costs less than the estimate; and
WHEREAS, the published purpose for the bond funds when the Phase III Water Main
Replacement Project was funded was water system improvements and park improvements.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Fairfax,
Iowa, that the city clerk/treasurer is directed to make these transfers.
a. From Phase I Checking to the Phase III Checking: $3,447.77
b. From Phase II Checking to the Phase III Checking: 70,690.50
Total to Phase III Checking 74,138.27
c. From Phase III Checking to the Park Project Checking: 94,222.47
Total Transfers: $168,360.74
BE IT FURTHER RESOLVED, that the Mayor and City Clerk/Treasurer are hereby
authorized and directed to execute said resolution.
Passed and approved this 8th day of January 2013
AYES: Beer, Frieden, Otto, Magers, and Wainwright
NAYS: None
Jason 1VI'. Rabe, Mayor
ATTEST:
Cyn is K. Stimson, City Clerk/Treasurer