HomeMy WebLinkAboutCity Council Resolutions (R-77-153)-12/20/1977
RESOLUT I ON R - 77 - 153
A RESOLUTION OBLIGATING $60,000.00 FROM CURRENT
YEAR REVENUES TO THE SEWER FUND RESERVE TO BE
USED FOR FUTURE EXPANSION OF THE SEWER.
WHEREAS, the City of Colleyville borrowed $160,000.00 in December, 1976, to
meet debt service obligations; and
WHEREAS, $60,000.00 of the fund allocated in the 1976-77 Budget allocated
to repay this note were never received; and
WHEREAS, the City of Colleyville used funds from the Utilities Fund Savings
intended for future sewer expansions; and
WHEREAS, the City Council feels this money should be put in a Sewer Fund
Reserve for future sewer expansion; and
WHEREAS, funds were appropriated in the 1977-78 Budget to meet this obI igation;
THEREFORE, BE IT RESOLVED, by the City Council of the City of
Colleyville THAT the $60,000.00 used from the Utilities Fund
Savings to pay the $60,000 note being held by the First
National Bank of Colleyville should be paid to the Sewer
Fund Savings within (90) days from current years revenue.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS,
on this the 20th day of December, 1977.
APPROVED:
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ATTEST:
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LaVada Johnson
City Secretary
APPROVED AS TO FORM:
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