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RESOLUTION NO. R2015-13 7 <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 31,2015 for the purpose of funding <br /> their 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 second quarter operating <br /> grant; 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 effect a positive cash position as <br /> of the close of business December 31, 2015 until such time that the Decatur Public Transit <br /> System receives their second quarter operating grant 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 effect a positive cash <br /> position at the close of business as of December 31, 2015 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 second quarter operating grant funds or at such time that the Decatur <br /> Public Transit System fund has sufficient funds to repay the interfund cash advance to the City of <br /> Decatur, whichever occurs first. <br /> PRESENTED and ADOPTED this 21St day�e ecember, 2015. <br /> � s �`� �����, <br /> Julie Moore Wolfe, Mayo <br /> ATTEST: <br /> u <br /> �� <br /> City Clerk <br /> � <br />