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CONSENT AGENDA ITEM 'IC <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE 12/16/02 <br />TOPIC Resolution No 02 -189 <br />VOTE REQUIRED Simple Majority <br />BACKGROUND <br />Each year a transfer is made into the 1999A Bond Fund to cover the deficit balance. <br />These bonds were originally sold to finance the West Central Trunk. In 1995, funds <br />were transferred to the Area and Unit Fund from TIF funds to defray the cost of the <br />trunk. <br />The transfer is to cover bond principal and interest payments only <br />The amount of the transfer is $391,681. <br />OPTIONS <br />1. Adopt Resolution 02 -189 Transferring funds from the Area and Unit fund to the <br />1999A G.O. Improvement Bond fund to eliminate the deficit. <br />2. Refer back to Staff for further consideration. <br />RECOMMENDATION <br />Option 1 <br />