RESOLUTION NO. 6734

A RESOLUTION OF THE CITY OF LAWRENCE, KANSAS, ORDERING THE TRANSFER OF FUNDS FROM THE EQUIPMENT RESERVE FUND TO THE TRANSPORTATION FUND PURSUANT TO K.S.A. 12-1,117 AND AMENDMENTS THERETO

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 LAWRENCE, KANSAS:

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