The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #16-79
Resolution to approve transfer of FAA, City of Monticello, Non-Primary Entitlement Funds, to the City of Washington, Iowa
WHEREAS, The City of Monticello Regional Airport is awarded funds annually by the FAA, at the current rate of $150,000 per year, and
WHEREAS, The Airport does not receive these funds and can only use the funds if we are proceeding with a pre-approved project, and
WHEREAS, The Airport is allowed to bank up to three years of funding at a time, for a total of $450,000, with banked funds from years prior to said three (3) year period being removed from the Airport bank, if you will, unless the Airport/City decides, before said funds are dropped, to agree to the transfer of said funds from the City of Monticello funds to the funds of another airport that could use the funds for an ongoing project, and
WHEREAS, The City of Monticello Airport is slated to see $79,648 removed from our bank as those funds were awarded to the City’s bank for year 2013 and a request has been made to transfer those funds to the City of Washington, Iowa, and
WHEREAS, The Council finds that the approval of the agreement to transfer said funds to the City of Washington does not hurt the City of Monticello or the Monticello Airport as we are not in a position to utilize those funds at the present, and that absent the transfer those funds would merely be removed from our account.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve of the Agreement For Transfer of Non-Primary Entitlement Funds from the City of Monticello Airport’s FAA Bank to the City of Washington, and authorizes the Airport Manager or the City Clerk to execute said agreement.
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 20th day of June, 2016.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, Monticello City Clerk