Resolution 4484 - Transfer Excess of Outstanding SID Debt1957
RESOLUTION NO.4484
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO TRANSFER THE
FUNDS IN EXCESS OF 5% OF THE OUTSTANDING SID DEBT FROM THE SID
REVOLVING FUND TO THE GENERAL FUND
WHEREAS, the City has in its SID Revolving Fund an excess balance of 111,411,11, the
excess accumulated over several years,
WHEREAS said funds are excess of the 5% authorized by Montana Code, 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 transfer the afore
mentioned excess fund from the SID Revolving fund to the General 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.
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ATTEST:
I',-, 72z&-
Theresa White
City Clerk
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i.F .�OarSki .
Wm. E. Boharski
Mayor