RESOLUTION
63-01
A RESOLUTION
OF THE WEST MIFFLIN SANITARY SEWER
IN THE 1996 DEBT
SERVICE FUND, THE 1996
RESERVE FUND
AND THE 1998 DEBT SERVICE
WHEREAS, the Authority maintains debt service funds in connection with the 1996 and 1998 Bond issues; and
WHEREAS,
National City Bank of Pennsylvania has advised the Authority that transfers
between certain accounts are necessary and appropriate.
NOW
THEREFORE, be it resolved and it is hereby resolved as follows:
1. The Board hereby authorizes the transfer
of $449,805.63 from account P-11661009 (1996 Debt Service Fund) to account
P-12829027 (1998 Debt Service Reserve Fund).
2. The Board hereby authorizes the transfer
of $27,277.13 in cash and $651,970.36 (a portion of investment agreement)
from account P-i 1663005 to account P-12829027 (1998 Debt Service Reserve
Fund).
3. The Authority hereby authorizes National
City Bank of Pennsylvania to transfer appropriate excess monies to the 1998
Debt Service Reserve Fund as necessary.
4. The Board hereby authorizes the Trustee
and Solicitor to take all necessary steps to effectuate the intent of this
Resolution.
RESOLVED,
this 5th day of April , 2001.
ATTEST:
William G. Kiger, Chairman
John P. Schmidt, Secretary