HomeMy WebLinkAboutRESOLUTION NO. 2016-137 RESOLUTION NO. 2016-137
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: $61,100.00 from the Debt Service checking, which are debt
proceeds from the final 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 back into the Local Option Sales Tax Fund
checking from the General Fund Vanderbilt Street pavement Reconstruction
Project checking account.
Section 3. Project Bond Funds:
a. Transfer Order: $164,248.32 from the Water Fund Phase 4 Project checking
account to the General Fund Vanderbilt Street Pavement Reconstruction Project
checking account.
b. Transfer Order: $247.00 from the Water Fund Phase 4 Project checking
account to the General Fund checking account.
c. Transfer Order: $22,562.49 from the Water Fund Phase 4 Project checking
account to the Sewer Fund Sewer Main Extension Project checking.
d. Transfer Order: $48,261.10 from the Water Fund Phase 4 Project checking
account to a Water Fund System Improvements checking account.
e. Transfer Order: $69,163.08 from the Water Fund Phase 4 Project checking
account to a Sewer Fund System Improvements checking account.
f. Transfer Order: 12,952.50 from the Sewer Fund UV Project checking to a
Sewer Fund System Improvements 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 13`x' day of December, 2016.
AYES: Beer, Daly, Kell, Volk, and Wainwright
NAYS: None
Burnell G. Frieden, Mayor
ATTEST:
Nil t K. Sti �++pi71M-...... q4.
Cynt t is mson, yii � •
Cit Clerk/Treasurer