A RESOLUTION OF THE WEST MIFFLIN SANITARY SEWER
MUNICIPAL AUTHORITY AUTHORIZING THE TRANSFER OFEXCESS FUNDS
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.
RESOLVED, this 5th day of April 2001.
William G. Kiger, Chairman
John P. Schmidt, Secretary