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RESOLUTION NO. R2010-74 <br /> RESOLUTION EXTENDING THE INTERFUND TRANSFERS <br /> BETWEEN VARIOUS CITY FUNDS <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> DECATUR, ILLINOIS: <br /> Section 1. That the City Council on July 6, 2009 authorized the City Manager to <br /> make transfers between various funds of the City of Decatur to avoid negative fund <br /> balances. <br /> Section 2. That the amount of these Interfund transfers was not to exceed <br /> $1,000,000, and was to be repaid by the end of the fiscal year ending April 30, 2010. <br /> Section 3. That the State of Illinois is currently four months behind in their <br /> income tax payments and currently owes the City of Decatur nearly $2,000,000, and <br /> because of that the City may not be able to repay these transfers by April 30, 2010. <br /> Section 4. That the date that these Interfund transfers need to be repaid be <br /> extended to the end of the fiscal year ending April 30, 2011. <br /> Section 5. This resolution shall be in full force and effect from and after its <br /> approval by the City Council and remain in effect until Apri130, 2011. <br /> PRESENTED and ADOPTED this 19�" day of April, 2 10. <br /> C <br /> M . cEL O , MA I� <br /> ATTE : <br /> �, <br /> ,�� ✓ _ <br /> ,�_ `\ 1�/J <br /> ., <br /> CITY CLERK <br />