11. Resolution 4483 - Inactive Special Improvement District Funds Close OutREPORT TO:
FROM:
SUBJECT:
MEETING DATE:
BACKGROUND:
�o —
Nov
Mayor Boharski and City Council Members
Amy Robertson, Finance Director
Chris Kukulski, City Manager
Close out of Inactive Special Improvement District Funds
June 7, 1999
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 Meridian
Sidewalk & Curb and the 1989 Sidewalk & Curb bonds are paid off.
Equity balances in those funds total $3,076.09.
RECOMMENDATION: Adoption of this resolution authorizing the transfer of funds to the
SID Revolving Fund.
FISCAL EFFECTS: Excess funds will be available to the General Fund in the amount of
$3, 076.09 which is included in the next resolution for Council's
attention.
ALTERNATIVES: None
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Amy H. Robertson
Finance Director
Report compiled: June 3, 1999
Attachments: none
C. �" A
Chris A. Kukulski
City Manager
Post Office Box 1997 • Kalispell, Montana 59903-1997
Telephone (406) 758-7700 • FAX (406) 758-7758
RESOLUTION NO. 4483
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 follcwing equity balances:
Meridian Sidewalk & Curb $ 300.63
1989 Sidewalk & Curb $ 2,776.09
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.
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 7th DAY OF JUNE, 1999.
Wm. E. Boharski
Mayor
ATTEST:
Theresa White
City Clerk