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2001-035 Council Resolution
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2001-035 Council Resolution
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Last modified
12/15/2014 12:02:36 PM
Creation date
12/15/2014 11:50:51 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
03/12/2001
Council Meeting Type
Regular
Resolution #
01-035
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• <br />• <br />• <br />AGENDA ITEM 1C <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE 3/12/01 <br />TOPIC Resolution No. 2001 -35 Authorizing the Transfer of Funds <br />from Area and Unit Fund to the Water Operating Fund <br />VOTE REQUIRED Simple Majority <br />BACKGROUND <br />Each year a transfer is budgeted from the Area and Unit Fund to the Water Operating <br />Fund to pay principal and interest on the 1996B G.O. Water Revenue Bonds. This <br />transfer is a part of the funding mechanism set up in the original bond documents. This <br />transfer may not be necessary if the Water Fund has sufficient revenue to cover these <br />payments. However, without this transfer being made in 2000 the Water Fund will be in <br />deficit for the year. The amount of the transfer would be $301,709. It is staff's <br />recommendation that Council authorize this transfer effective December 31, 2000. <br />OPTIONS <br />1. Adopt Resolution 2001 -35 transferring funds from the Area and Unit fund to the <br />Water Operating Fund. <br />2. Refer back to Staff for further consideration. <br />3. Deny Resolution 2001 -35. <br />RECOMMENDATION <br />Option 1 <br />
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