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AGENDA ITEM 1B <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE 12/16/02 <br />TOPIC Resolution No 02 -188 Authorizing the Transfer of funds <br />from Area and Unit Fund to the Water Operating Fund <br />VOTE REQUIRED Simple Majority <br />ti BACKGROUND <br />Each year a transfer is budgeted from the Area and Unit Fund to the Water Operating <br />Fund to pay principal and interest on the 19968 G.O. Water Revenue Bonds. This <br />transfer is a part of the funding mechanism set up in the original bond documents. The <br />amount of the transfer is $304,075. It is staffs recommendation that Council authorize <br />this transfer as budgeted. <br />OPTIONS <br />1. Adopt Resolution 02 -188 transferring funds from the Area and Unit fund to the <br />Water Operating Fund. <br />2. Refer back to Staff for further consideration. <br />3. Deny Resolution 02 -188. <br />RECOMMENDATION <br />Option 1 <br />