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Regular Council Meetirig Minutes <br />12-21-09 <br />Page 15 <br />Council President Buckholtz asked if there were any other questions. There were none. <br />Roll Call: AYES: All <br />Motion Carried <br />Expenditure Approved <br />Motion to acknowledge receipt of the financial reports for November 2009 and to <br />approve the same as.submitted. Mrs. Mills, seconded by Mr. Marrie, made a motion to acknowledge receipt of the financial <br />reports for November 2009 and to approve the same as submitted. <br />Council President Buckholtz asked if there was any discussion. There was none. <br />Roll Call: AYES: All Motion Carried <br />NAYS: None - November 2009 Financial <br />Reports Acknowledged and <br />Approved <br />Motion to authorize transfer from the General Fund to the Bond Retirement Fund <br />the sum of Two Hundred Fifty-Five Thousand Ninety-Five Dollars and Sixty-One <br />Cents ($255,095.61). <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to authorize transfer from the General Fund <br />to the Bond Retirement Fund the sum of Two Hundred Fifty-Five Thousand Ninety-Five Dollars <br />and Sixty-One Cents ($255,095.61). Council President Buckholtz asked if there was any discussion. Council President Buckholtz <br />asked Mr. Wynne to explain these transfers. <br />Mr. Wynne reported this the annual transfer we make at the end of the year. It's generally the <br />difference between the T.I.F. dollars and tax monies received against the principal and interest <br />payment we have to make on our debt. The balance that is not covered by revenue is transferred <br />from the General Fund into the Bond Retirement Fund. <br />Council President Buckholtz asked if there were any other comments. There were none. <br />Roll Ca11: AYES: All Motion Carried <br />NAYS: None Transfer Authorized