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Resolution 4802 - Outstanding SID Debt Funds TransferRESOLUTION NO.4802 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 $18,146, 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: SECTION I: That the Finance Director is hereby authorized and directed to transfer the aforementioned 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 16TH DAY OF JUNE, 2003. ia&lwffipl� ITO-N Theresa White City Clerk