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• <br />• <br />• <br />CONSENT AGENDA ITEM 1G <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE 12/11/06 <br />TOPIC Resolution No. 06 -205 Authorizing the Transfer of Funds <br />from the Area And Unit Fund to the 1999A G.O. <br />Improvement Bond Debt Service Fund <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 the fund balance deficit. <br />The amount of the transfer is $359,680. <br />OPTIONS <br />1. Adopt Resolution 06 -205 transferring funds from the Area and Unit fund to the <br />1999A G.O. Improvement Bond fund. <br />2. Refer back to Staff for further consideration. <br />3. Deny Resolution 06 -205. <br />RECOMMENDATION <br />Option 1. <br />