HomeMy WebLinkAboutRESOLUTION NO. 2016-106 RESOLUTION NO. 2016-106
A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS
WHEREAS,the City of Fairfax has operational transfers that are required to be made; and
WHEREAS, the City Council of the City of Fairfax, Iowa, wishes to make the needed
transfers; and
WHEREAS, the city clerk/treasurer has submitted the following list of the transfers
needed.
Section 1. Debt Proceeds:
a, Transfer Order: $154,900.00 from the Debt Service checking which are debt
proceeds from the initial advance on the Water Revenue Bond Anticipation
Project Note to go into the 2016 80'h Street Water Main Extension Project
checking account.
b. Transfer Order: $523,900.00 from the Debt Service checking which are debt
proceeds from the initial advance on the Sewer Revenue Bond Anticipation
Project Note to go into the 2016 Sanitary Sewer Interceptor Main Extension
Project checking account.
Section 2. Local. Option Sales Tax Funds:
a. Transfer Order: $136,350.00 from the Local Option Sales Tax Fund checking
to go into the Vanderbilt Street pavement Reconstruction Project checking
account.
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 recommended transfers.
BE IT FURTHER RESOLVED, that the Mayor and City Clerk/Treasurer are hereby
authorized and directed to exec-Lite said resolution.
Passed and approved this 13" day of September, 2016.
AYES: Beer, Daly, Kell, Volk, and Wainwright
NAYS: None
Burnell G. Frieden, Mayor
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ATTEST:
Cy is K. Stimson, City Clerk/Treasurer
Foy I