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CITY COUNCIL <br />CONSENT AGENDA ITEM 1D <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE December 8, 2014 <br />TOPIC Resolution No. 14-144 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 Simple Majority <br />BACKGROUND <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 14-144 would transfer the necessary funds from the Area and Unit Fund to maintain debt <br />service requirements. The amount of the transfer is $220,000.00. <br />RECOMMENDATION <br />Staff recommends approval of Resolution 14-144. <br />ATTACHMENTS <br />Resolution 14-144. <br />