RESOLUTION
62-01
A RESOLUTION OF THE WEST MIFFLIN SANITARY SEWER
MUNICIPAL AUTHORITY
AUTHORIZING THE TRANSFER OF
IN THE 1998 RENEWAL
AND REPLACEMENT FUND
WHEREAS, the 1998 Supplemental Indenture in Section 4.04 established a Renewal and Replacement Fund which requires a balance of $100,000; and
WHEREAS,
there is currently $11,903.34 in excess funds which the Board believe could
be utilized for debt service fund purposes; and
WHEREAS,
the Board has been advised that it is appropriate to transfer said monies
and said transfer will be consistent with the 1998 Supplemental Indenture.
NOW
THEREFORE, be it resolved and it is hereby resolved as follows:
1.
The Board hereby authorizes the transfer of $11,903.34 from 1998 Renewal and
Replacement Fund to 1998 Debt Service Fund and further authorizes the transfer
of any future funds in excess of $100,000 in said Renewal and Replacement
Fund to said 1998 Debt Service Fund.
2.
The proper officers, Solicitor and Trustee are hereby authorized, empowered
and directed to execute all documents and to do all other acts necessary to
accomplish this transfer and such future transfers.
William G. Kiger, Chairman
John P. Schmidt, Secretary