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12/18/2000 Council Packet
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12/18/2000 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
12/18/2000
Council Meeting Type
Regular
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• <br />STAFF ORIGINATOR <br />DATE <br />TOPIC <br />VOTE REQUIRED <br />CONSENT AGENDA ITEM 4B <br />Al Rolek <br />12/12/00 <br />Resolution No. 00 -125 <br />Simple Majority <br />BACKGROUND <br />Each year a transfer is made into the 1992 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 payments only. <br />The amount of the transfer would be $417,345. <br />OPTIONS <br />0 1. Adopt Resolution 00 -125 Transferring funds from the Area and Unit fund to the <br />1992A G.O. Improvement Bond fund to eliminate the deficit. <br />2. Refer back to Staff for further consideration. <br />RECOMMENDATION <br />Option 1 <br />• <br />
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