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RESOLUTION NO. R2017- 155 <br /> RESOLUTION AUTHORIZING THE CITY OF DECATUR TO PROVIDE AN <br /> INTERFUND CASH ADVANCE TO THE <br /> DECATUR PUBLIC TRANSIT SYSTEM FUND <br /> WHEREAS, the Decatur Public Transit System must have funds in an amount to affect a <br /> positive cash position at the close of business as of December 31, 2017 for the purpose of <br /> funding the payroll and other operating expenses; and, <br /> WHEREAS, the Decatur Public Transit System receives operating grants from the <br /> Illinois Department of Transportation on a quarterly basis and the Decatur Public Transit System <br /> has not received the State of Illinois Department of Transportation first and second quarter <br /> operating grants; and, <br /> WHEREAS, it is necessary for the City of Decatur to provide an interfund cash advance <br /> to the Decatur Public Transit System in an amount sufficient to affect a positive cash position as <br /> of the close of business December 31, 2017 until such time that the Decatur Public Transit <br /> System receives the first and second quarter operating grants from the State of Illinois. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, <br /> ILLINOIS: <br /> Section 1. That an Interfund Cash Advance in sufficient amount to affect a positive cash <br /> position at the close of business as of December 31, 2017 to the Decatur Public Transit System <br /> Fund of the City of Decatur, Illinois, be, and the same is hereby, received, placed on file, and <br /> approved. <br /> Section 2. That the City Treasurer is hereby, authorized and directed to affect said <br /> interfund cash advance to the Decatur Public Transit System on behalf of the City of Decatur, <br /> Illinois. <br /> Section 3. That the City Treasurer is hereby authorized and directed to repay in full the <br /> amounts transferred herein to the City of Decatur at such time that the Decatur Public Transit <br /> System fund receives its first and second quarter operating grant funds or at such time that the <br /> Decatur Public Transit System fund has sufficient funds to repay the interfund cash advance to <br /> the City of Decatur, whichever occurs first. <br /> PRESENTED and ADOPTED this 18th day of December 2017. <br /> �i Julie Moore Wolfe,May <br /> AT ST: <br /> City Clerk <br />