Resolution 4130 - Close Out SID Funds736
RESOLUTION NO. 4130
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 Lighting District No. 1
the following fund with the following equity balance:
$1,473.00
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
SID Revolving, and
WHEREAS, S7-12-4192, MCA provides that assessments for special
improvement district bonds should be reduced when the proceeds of
bonds or warrants are used to reduce principal.
NOW, THEREFORE be it resolved by the City Council of the City
of Kalispell as follows:
SECTION I. That the Finance Director is hereby
authorized and directed to close out the aforementioned
Special Improvement District Fund to the SID Revolving
Fund.
SECTION II. That the Finance Director is authorized and
directed to cancel remaining assessments on construction
associated with Special Lighting District No. 1.
PASSED AND APPROVED BY THE CITY COUNCIL AND MAYOR OF THE CITY OF
KALISPELL THIS 7th DAY OF September , 1993.
ATTEST:
Amy H. Robertson
Finance Director
DouglaEW D. Rauthe,
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