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Regulaz Council Meeting Minutes <br />12-21-09 <br />Page 17 <br />Mayor Rinker stated, a general comment for anyone in the audience following along, the T.I.F., <br />tax incremental financing is significant. When you add up these three different accounts, it's <br />roughly a million dollars. That's based upon property tax in effect. It's a re-routing of extra <br />property tax dollars for infrastructure we have put in. It is significant that we can look to at least <br />a solid property tax base as something on which we can depend. These dollar amounts are pretty <br />steady year in and year out. <br />Motion to authorize transfer from the Highland/Metro/Zorn Fund to the Bond <br />Retirement Fund the sum of Fifty Four Thousand Six Hundred Ninety-Eight <br />Dollars and Twenty-Seven Cents ($54,698.27). <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to authorize transfer from the <br />Highland/Metro/Zorn Fund to the Bond Retirement Fund the sum of Fifty Four Thousand Six <br />Hundred Ninety-Eight Dollars and Twenty-Seven Cents ($54,698.27). <br />Council President Buckholtz asked if there was any discussion. <br />Mr. Wynne reported that the Highland/Metro/Zorn project is completed. These funds were <br />remaining after the project was done. It is a requirement to return the funds to the fund where it <br />came from or if the project was funded by debt to return it to the Bond Fund, so the excess cash <br />was sent to the Bond Fund to pay down debt. <br />?..?a Council President Buckholtz asked if there was any other discussion. There was none. <br />Roll Call: AYES: All <br />NAYS: None <br />Motion Carried <br />Transfer Authorized <br />Motion to authorize transfer from the Police Pension Fund to the General Fund the <br />sum of I+ifty-One Thousand Dollars ($51,000.00). <br />Mrs. Mills, seconded by Mrs. Cinco, made a motion to authorize transfer from the Police <br />Pension Fund to the General Fund the sum of Fifly-One Thousand Dollars ($51,000.00). <br />Council President Buckholtz asked if there was any discussion. <br />1VIr. Wynne sta.ted these are real estate tax dollars earmarked for police operating expenses. <br />Roll Call: AYES: All <br />NAYS: None <br />Motion Carried <br />Transfer Authorized <br />? ?