10-056CITY OF SHOREWOOD
RESOLUTION NO. 10 -056
A RESOLUTION AUTHORIZING 2010 FUND EQUITY TRANSFERS
WHEREAS, the City Council established the Waterford III TIF District — Fund 303, and
the City Hall Construction — Fund 410, and the EDA Public Safety Facilities Project — Fund 499
to account for specific public project activities ; and
WHEREAS, those construction activities have been completed; and
WHEREAS, the City Council desires to close these funds as of December 31, 2010;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Shorewood as follows:
I . That the remaining balance in the Waterford III TIF District be transferred into
the Street Reconstruction Fund to reimburse that fund for the cost of construct
activities authorized by the TIF plan, and
2. That the City FIall Construction Fund's deficit be closed by transferring sufficient
funds from the Public Facilities Fund to bring the Fund Balance to zero, and
3. That the remaining balance in the EDA Public Safety Facilities Project be
transferred into the Public Safety Building Debt Service Fund as required by the
bond covenants.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF SHOREWOOD this 13th
day of December, 2010.
ATTEST: Christine Lizee, Mayor