6. Resolution 4563 - Authorization to Close Out Inactive SID FundsREPORT TO:
FROM:
SUBJECT:
City of Kal is ell
Post Office Box 1997 • Kalispell, Montana 59903-1997 • Telephone (406) 758-7700 • FAX (406) 758-7758
Mayor Boharski and City Council Members
Amy Robertson, Finance Director
Chris Kukulski, City Manager
Close out of Inactive Special Improvement District Funds
MEETING DATE: June 19, 2000
BACKGROUND: This is an annual housekeeping Resolution to allow closing out of
inactive SID funds and transfer the balances from those funds to the
SID Revolving Fund as prescribed by statute. The 1990 and 1991
Sidewalk & Curb bonds are paid off. Equity balances in those funds
are $327.26 and ($211.18)
RECOMMENDATION: Adoption of this resolution authorizing the transfer of funds to the
SID Revolving Fund.
FISCAL EFFECTS: Net increase in cash in the SID revolving fund of $116.08
ALTERNATIVES: None
Amy . Robertson
Finance Director
Report compiled: June 14, 2000
Attachments: none
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f
Chris A. Kukulski
City Manager
RESOLUTION NO. 4563
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO CLOSE OUT THE
INACTIVE SPECIAL IMPROVEMENT DISTRICT FUNDS TO THE SID REVOLVING
FUND.
WHEREAS, the City has in its Special Improvement District
Funds the following funds with the following equity balances:
1990 Sidewalk & Curb
1991 Sidewalk & Curb
$ 327.26
$(211.18)
WHEREAS, said Funds are 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
SID Revolving 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 Special
Improvement District Funds to the SID Revolving Fund.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF
THE CITY OF KALISPELL, MONTANA, THIS 19th DAY OF JUNE, 2000.
Wm. E. Boharski
Mayor
ATTEST:
Theresa White
City Clerk