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• <br />• <br />• <br />CITY COUNCIL <br />AGENDA ITEM 1D <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 10, 2012 <br />TOPIC Resolution No. 12 -118 Authorizing the Transfer of Funds from the <br />Area and Unit Fund to the 2003A G.O. Improvement Bond Debt <br />Service Fund <br />VOTE REQUIRED Simple Majority <br />BACKGROUND <br />The 2003A Debt Service Fund was established to service the debt on several 2003 improvement <br />projects and to refund the 1996A bond issue. The 1996A debt was to be retired using special <br />assessments and resources of the Area and Unit Fund. Resolution No. 12 -118 authorizes the <br />transfer of necessary funds from the Area and Unit Fund for 2012 debt service needs. The <br />amount of the transfer is $80,538.00. <br />RECOMMENDATION <br />Staff recommends that the City Council approve Resolution No. 12 -118. <br />ATTACHMENTS <br />Resolution 12 -118. <br />