10. Resolution 4595 - Close Out of 3010 General Obligation Bond FundCity of Kalispell
Post Office Box 1997 • Kalispell, Montana 59903-1997 • Telephone (406) 758-7700 FAX (406) 758-7758
REPORT TO:
FROM:
SUBJECT:
MEETING DATE:
Mayor Boharski and City Council Members
Amy Robertson, Finance Director
Chris Kukulski, City Manager
Close out of Inactive G. O. Bond Fund
November 6, 2000
BACKGROUND: This is a housekeeping Resolution to allow closing out of an inactive
debt service fund and transfer the balance from that fund to the
General Fund as prescribed by statute. The G. O. Bonds for
Bruckhauser Pool were paid off in April 2000. The Equity balance in
that fund is $ 13,137.08
RECOMMENDATION: Adoption of this resolution authorizing the transfer of funds to the
General Fund.
FISCAL EFFECTS: Equity transfer already anticipated in General Fund budget for this
fiscal year.
ALTERNATIVES: None
Amy H. Robertson
Finance Director
Report compiled: November 2, 2000
Attachments: none
Chris A. Kukulski
City Manager
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO CLOSE OUT THE
INACTIVE DEBT SERVICE FUND - 3010 GENERAL OBLIGATION BOND FUND.
WHEREAS, the City has in its G.O. Bond fund the following equity
balance:
3010 G.O. Bond - $13,137.08
WHEREAS, said Fund is inactive, and
WHEREAS, the City is authorized and required to transfer equity
from one fund to another fund only by Resolution or
Ordinance, and
WHEREAS, an appropriate fund to transfer said equity to is the
General Fund.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
That the Finance Director is hereby authorized and
directed to close out the aforementioned Debt Service
Fund to the General Fund
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF
THE CITY OF KALISPELL, MONTANA, THIS 6TH DAY OF NOVEMBER, 2000.
Wm. E. Boharski
Mayor
ATTEST:
Theresa White
City Clerk