The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION # 11-102
Approving transfer of funds from Sewer Improvement Fund to Sewer Operating, with an effective transfer date of June 30, 2011.
WHEREAS, As a result of the 2010 flood the City was required, per IDNR permit requirements, to replace the UV System ruined by the flood, and
WHEREAS, The purchase and installation of the UV System, at an approximate cost of $225,000 from the Sewer Operating Account resulted in annual fund expenditures exceeding available cash in by $115,767.40, and
WHEREAS, City Engineer, Patrick Schwickerath, Snyder and Associates, has provided a written opinion to the City that the replacement of the Ultra Violet System was both necessary and required to operate our Sewage Treatment Plant in compliance with State laws and regulations, a copy of same being attached hereto, and by this reference incorporated as if same had been set forth fully verbatim herein, and
WHEREAS, The City expects reimbursement from FEMA and the State of Iowa for approximately 85% of the UV replacement costs and an application for said funding is pending, and
WHEREAS, The proposed transfer, from Sewer Improvement to Sewer Operating, is permitted by the Bonding Documents so long as supported by the City Engineer and so long as the Improvement Fund is re-built with monthly payments from Sewer Operating at the rate of $400 or more per month, to begin with the month of July, 2011, and
WHEREAS, When anticipated FEMA and State proceeds are received, the Sewer Improvement Fund will be credited in the amount necessary to bring the balance of said account to the required balance of $75,000, and
WHEREAS, From a bookkeeping and accounting standpoint the expenses of the Sewer Operating Account must be covered by cash in said fund and cannot end the fiscal year in the red.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve the transfer of $115,767.40 from the Sewer Improvement Fund to the Sewer Operating Fund, said transfer to be effective as of June 30, 2011.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 5th day of July, 2011.
John Sauser, Mayor Pro Tem
Attest:
Sally Hinrichsen, Monticello City Clerk