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CITY COUNCIL <br />CONSENT AGENDA ITEM 1D <br />• STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 9, 2013 <br />TOPIC Resolution No. 13 -127 Authorizing the Transfer of Funds from the Area <br />and Unit Fund to the 2005B G.O. Improvement Bond Debt Service Fund <br />VOTE REQUIRED <br />BACKGROUND <br />Simple Majority <br />The 1998A Debt Service Fund was established to service the debt on the 1997 and 1998 improvement <br />projects. The 1998A issue was subsequently refunded by the 2005B bond issue. The original debt was <br />to be retired using special assessments to benefited properties and resources of the Area and Unit Fund. . <br />Resolution 13 -127 would transfer the necessary funds from the Area and Unit Fund to maintain debt <br />service requirements. The amount of the transfer is $347,600.00. <br />RECOMMENDATION <br />Staff recommends approval of Resolution 13 -127. <br />ATTACHMENTS <br />• Resolution 13 -127. <br />• <br />