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REQUEST FOR ACTION <br />ver <br />TO ITEM NUMBER <br />Ci Council 3.8• <br />AGENDA SECTION MEETING DATE PREPARED BY <br />Consent Ma 2, 2011 Lori Ziemer, Asst. Finance Director <br />ITEM DESCRIPTION REVIEWED B)/ <br />Resolution Authorizing The Transfer Of Equipment Certificates Tim Simon, Finance Director <br />Debt Service Funds REVIEWED BY <br /> Lori ohnson, Ci Administrator <br />ACTION REQUESTED <br />Adopt the attached Resolution Authorizing the Transfer of Equipment Certificates Debt Service Funds. <br />BACKGROUND/DISCUSSION <br />The Equipment Certificates debt service fund was established to account for the accumulation of <br />resources to provide for the payment of principal and interest on equipment certificates issued to finance <br />the purchase of equipment. On February 1, 2011 the 2006B Equipment Certificates, the final equipment <br />certificate maturity, were repaid in full. The Equipment Certificates debt service fund is no longer needed <br />and the excess funds can be transferred to another fund. It is recommended that the excess debt service <br />funds be transferred to Fund 410 Equipment Replacement capital projects fund for the acquisition of <br />future capital equipment. <br />FINANCIAL IMPACT <br />The transfer amount is $3,117.29. <br />ATTACHMENTS <br />^ A Resolution Authorizing The Transfer of Equipment Certificates Debt Service Funds <br />Action Motion by Second by Vote <br />Follow Up <br />N:\Public Bodies\City Council\Coundl RCA\Agenda Packet\05-02-2011\Transfer Equip Cert.docx <br />