RESOLUTION NO. 6734
A RESOLUTION OF THE CITY OF
WHEREAS, the Governing Body of the City of
Lawrence, by adoption of Ordinance Number 5653, and pursuant to state statutes,
provided for a municipal equipment reserve fund to finance the acquisition of
equipment; and
WHEREAS, in 2003 and 2005 transfers totaling
$800,000 were made to said Equipment Reserve Fund from the Transportation Fund
for the acquisition of buses for the Department of Public Transit; and
WHEREAS, the Governing Body has determined
that a portion of the $800,000 transferred to the Equipment Reserve Fund is not
needed for the purposes for which it was so budgeted and transferred; and
NOW THEREFORE, BE IT
RESOLVED BY THE GOVERNING BODY OF THE CITY OF
SECTION I. The recitals set forth above are incorporated herein.
SECTION II.
The
Governing Body hereby finds that $232,000 of the $800,000 transferred in 2003
and 2005 to the Equipment Reserve Fund from the Transportation Fund is not
needed for the purposes for which said funds were so budgeted or
transferred.
SECTION III.
The
Governing Body authorizes the transfer of $232,000 from the Equipment Reserve
Fund to the Transportation Fund pursuant to K.S.A. 12-1,117(c), and amendments
thereto for the 2008 budget year.
PASSED by the Governing Body this day of August, 2007.
APPROVED
Sue
Hack, Mayor
ATTEST:
Frank S. Reeb, City Clerk