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• <br />CONSENT AGENDA ITEM 1B <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE 12/12/05 <br />TOPIC Resolution No. 05 -187 Authorizing the Transfer of Funds <br />from the Area and Unit Fund to the 2003A G.O. <br />Improvement Bond Debt Service Fund <br />VOTE REQUIRED Simple Majority <br />BACKGROUND <br />The 2003A Debt Service Fund was established to service the debt on several 2003 <br />improvement projects and to refund the 1996A bond issue. The 1996A debt was to be <br />retired using special assessments and resources of the Area and Unit Fund. <br />Resolution 05 -187 would transfer the necessary funds from the Area and Unit Fund for <br />2005 debt service needs. <br />• The amount of the transfer is $444,755.00. It is staffs recommendation that the City <br />Council approve Resolution 05 -187 authorizing this transfer. <br />OPTIONS <br />1. Adopt Resolution 05 -187 transferring funds from the Area and Unit fund to the <br />2003A Debt Service fund. <br />2. Refer back to Staff for further consideration. <br />3. Deny Resolution 05 -187. <br />RECOMMENDATION <br />Option 1 <br />