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City of Centerville <br />Res. #10 -0 <br />A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO TRANSFER <br />FUNDS <br />WHEREAS, a certain special project debt service fund (Fund # 348) was established to <br />account for repayment of bonds which financed drainage system improvements, and <br />WHEREAS, the improvement financing plan required certain transfers from the <br />Stormwater Utility Fund (Fund # 415) to pay debt service over several years, and <br />WHEREAS, the transfers from the Stormwater Utility Fund have been previously routed <br />through the General Fund rather than passing directly to the debt service fund and <br />WHEREAS, staff has recommended that the transfers be made directly to the debt <br />service fund. <br />NOW, THERFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF CENTERVILLE, MINNESOTA: <br />The Finance Director shall complete the following cash transfers from the Stormwater <br />Utility Fund (Fund # 415) to the 2009B G.O Improvement Refunding Bond Fund (Fund # <br />348) during the calendar year indicated. <br />2010 $99,500 <br />2011 $99,500 <br />Adopted by the City Council this _ day of June, 2010. <br />Mary Capra, Mayor <br />Attest: <br />Teresa Bender, Clerk <br />