HomeMy WebLinkAboutRESOLUTION NO. 2016-109 RESOLUTION NO. 2016-109
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 I. Debt Proceeds:
a. Transfer Order: $210,000.00 from the Debt Service checking which are debt
proceeds from the September 14,2016,advance request 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: $160,000.00 from the Debt Service checking which are debt
proceeds from the September 14,2016,advance request on the Sewer Revenue
Bond Anticipation Project Note to go into the 2016 Sanitary Sewer Interceptor
Main Extension Project checking account,
c, Transfer Order: $125,000.00 from the Debt Service checking which are debt
proceeds from the October 11, 2016, advance request on the Sewer Revenue
Bond Anticipation Project Note to go into the 2016 Sanitary Sewer Interceptor
Main Extension 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 execute said resolution.
Passed and approved this 11 1h day of October, 2016.
AYES: Daly, Beer, Volk, and Wainwright
NAYS: None
ABSENT: Kell
Burnell G. Frieden, Mayor
ATTEST:
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Cynthia K. Stimson, City Clerk/Treasurer