1210RECITALS:
RESOLUTION 1210
A RESOLUTION ESTABLISHING NEW FUNDS AND AUTHORIZING
THE TRANSFER OF FUNDS
1.The following new funds should be established upon the city books:Fund
#481 CERB Loans and Fund #482 EAA Loans. The EAA Trust Fund #634 should
be discontinued.
2.The Economic Assistance Authority Loan for the extension of water mains
on Wheeler Road was established as a trust fund on the city books.It
has been called to the attention of the city that the EAA Loan should be
part of the Water/Sewer Fund and be included in the debt service of the
Water/Sewer Fund.EAA Trust Fund #634 should be transferred to EAA Bond
Fund #482.The transfer should be completed so that all expenditures and
revenues for 1984 are part of the Water/Sewer Fund.
3.Since the final bond payment was made on GOB Bond #275 for the municipal
library building on November 29,1984,any residual balance in this fund
and all future revenues accruing to this fund should be credited to the
General Fund.
4.Since a sum of $8,441.10 remains in Block Grant Fund #196 and the fund is
not presently in use,the residual balance should be transferred to the
General Fund.This transaction was in a prior ordinance,however,it is
included because it is a residual equity transfer and as such is not a
budgeted item.
5.Since the sum of $107,430 was transferred to Revenue Bond Reserves from
the 1981 Water/Sewer Bond Fund #479,which is a ULID Bond Fund,and since
such amount will be needed to meet the bond payments,and,since the
amount has subsequently been transferred to the Revenue Bond Reserve Fund
from the Water/Sewer Fund,the $107,430 should be transferred from the
Revenue Bond Reserve to Water/Sewer Bond Fund #479.This transfer is an
operating transfer and therefore is not a budgeted item.
RESOLVED:The City Council of the City of Moses Lake do resolve as follows:
1.The following new funds shall be established upon the city books:Fund
#481 CERB Loans and Fund #482 EAA Loans.
2.EAA Trust Fund #634 shall be transferred to EAA Bond Fund #482.
3.The residual balance in GOB Bond #275 and all future revenues accruing to
this fund shall be credited to the General Fund.
4.The $8,441.10 remaining in Block Grant Fund #196 shall be transferred to
the General Fund.
5.$107,430 shall be transferred from the Revenue Bond Reserve to the Water/
Sewer Bond Fund #479.
Adopted by the City Council on February 12,1985.
ATTEST:
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