NO. 1009-Removal of Indebtedness Schertz Waterworks
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A RESOLUTION
A RESOLUnON AUTHORIZING THE RJM>VAL OF $20,000.00 INDEBTEDNESS FROM
THE CITY OF SCHERTZ GENERAL FUND TO THE CITY OF SCHERTZ WATERWORXS
GENERAL FUND 0
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
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Whereas, an indebtedness has occurred over the past several years
to the City of Schertz General Fund, and,
WHEREAS, the City of Schertz Waterworks General Fund has, period-
ically transferred funds to the City of Schertz General Fund and current-
ly carries as a current asset an amount of $21,680.13 as a result of
these transfers and;
WHEREAS, the City of Schertz General Fund has annually retired
the bonded indebtedness and interest on the City of Schertz Sewer Bonds,
Series 1962 and revenues collected in,the form of sewer charges have
been retained by the City of Schertz Waterworks General Fund; therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
That the balance sheet of the City of Schertz Waterworks General
Fund be changed to eliminate $20,000.00 of the existing $21,680.13 re-
ported as CURRENT ASSETS and that the balance sheet of the City of Schertz
General Fund be changed to reflect elimination of $20,000.00 of the exist-
ing $21,680.13 reported as a LIABILITY'.'under Accounts Payable.
PASSED AND APPROVED THIS THE / " -tit day of -P..Pe' ~ , /97/ .
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MAYOR
ATTEST:
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'C1ty Secretary
Resolution # 1009