VILLAGE OF TAOS SKI VALLEY
RESOLUTION NO. 2004-82
A RESOLUTION REQUESTING A TEMPORARY LOAN AS FOLLOWS
WHEREAS, hereby resolved that the Village of Taos Ski Valley having met in a regular meeting on March 9, 2004 proposes to temporarily transfer cash as follows:
ACCOUNT DESCRIPTION TRANSFER FROM TO
TYPE
32 - O&M Reserve O&M Reserve Fund Cash Bal Temporary $19,424.87
03 - General General Fund Cash Balance Temporary $19,424.87
WHEREAS, Revenue was budgeted for the General fund and at December 31, 2004 the cash balance for the General fund was $0.00; and expenditures were made within the General fund and revenue was insufficient to pay these expenditures; and
WHEREAS, The O&M Reserve fund is available to support the General fund when necessary; and
WHEREAS, A temporary loan from the O&M Reserve fund to the General fund will be paid back to the O&M Reserve fund as soon as revenues are available in the General Fund;
WHEREAS, A temporary loan under such circumstances is necessary and lawful, and the proposed loan should be made.
THEREFORE, BE IT RESOLVED, that the Village of Taos Ski Valley hereby approves, authorizes and directs that the Village of Taos Ski Valley budget for fiscal year 2003-2004 be amended accordingly.
PASSES, APPROVED and ADOPTED this _______ day of ______________, 2004.
THE VILLAGE OF TAOS SKI VALLEY
By __________________________
Neal King, Mayor
(Seal)
ATTEST
__________________________
Vanessa N. Chisholm, Clerk
Vote For Against