HomeMy WebLinkAboutR-1987-001 RESOLUTION NO. 01-87
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i A RESOLUTION AUTHORIZING AND DIRECTING THE TRANSFER
OF THE SUM OF $312 ,000 . 00 FROM THE "SEWER REVENUE
3 BONDS SINKING FUND" TO THE "RENEWAL AND REPLACEMENT
FUND OF THE SEWER REVENUE FUND OF THE CITY OF DANIA;
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS , City of Dania Resolution No. 1613 passed and adopted
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on September 28 , 1964 , provides that all gross revenues generated
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j by the sanitary sewer system of the City of Dania, Florida be
deposited in an account designated as the "Sewer Revenue Fund" ;
and
WHEREAS , said Resolution No . 1613 further provides that said
Sewer Revenue Fund be divided into three separate accounts known
as "Operations and Maintenance Fund" , "Sewer Revenue Bonds Sinking
Fund" and "Renewal and Replacement Fund" with each said separate
account to be funded as provided in said resolution; and
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WHEREAS , the account known as "Sewer Revenue Bonds Sinking
Fund" has been funded far in excess of the amounts required by
said Resolution No. 1613 and there now exists within said accounts v
a surplus in excess of $312 , 000 . 00 ; and
WHEREAS , there presently exists substantial shortage in the
"Renewal and Replacement Fund" for the payment of the costs of
the extension of said sanitary sewer system to the area north of
the Dania Cut-Off Canal in excess of the above stated surplus
amount in the "Sewer Revenue Bonds Sinking Fund" ; and
WHEREAS , said surplus in the aount of $312 ,000. 00 in the
"Sinking Fund" can be transferred to the "Renewal and Replacement
Fund" without jeopardizing the integrity of the "Sewer Revenue
Bonds Sinking Fund" account.
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA, FLORIDA:
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Section 1 . That the City Commission of the City of Dania ,
Florida, hereby finds and declares that there presently exists a
surplus in the sum of Three Hundred Twelve Thousand & no/100
Dollars ($312 ,000 . 00) in the "Sewer Revenue Bonds Sinking Fund"
Resolution No. 01-87
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j account of the "Sewer Revenue Account" and that said sum should
be transferred to the "Renewal and Replacement Fund" of said account
i to partially pay the costs for the extension of the sanitary sewer
system of the City to the area north of the Dania Cut-Off Canal.
111.
i Section 2. That the City Auditor-Clerk is hereby directed
I to cause the above stated transfer of funds to be made from the
said "Sewer Revenue Bonds Sinking Fund" account to the said
"Renewal and Replacement Fund" account with said transferred
funds to be expended as herein above set forth.
Section 3. That this resolution shall be in force and take
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effect immediately upon its passage and adoption.
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PASSED and ADOPTED on this 13th day of-- nuar 1987.
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i 0 - COMMISSIONER
ATTEST:
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CITY CLERK - AUDITOR
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APPROVED AS TO FORM AND CORRECTNESS
FRANK C. ADLER, City Attorney
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-2- Resolution #01-87
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