WOODLAND SCHOOL DISTRICT #404
RESOLUTION #2588
DEBT SERVICE FUND BUDGET EXTENSION
WHEREAS, the 2013-14 Debt Service Fund budget for Woodland School district was adopted with expenditures of $3,120,651; and,
WHEREAS, the Board of Directors approved issuance of $25,700,000 of authorized but unissued Unlimited Tax General Obligation Bonds; and,
WHEREAS, the bonds were sold and issued on December 10, 2013, including accrued interest and issuance costs, which are greater than the original amount included in the annual Debt Service Fund Appropriation; and,
WHEREAS, the source of funds for the issuance costs and the June 2014 interest payment on the bonds will be available in the Debt Service Fund cash and investments, as set forth in Form F-200;
NOW, THEREFORE, BE IT RESOLVED that the Debt Service Fund be extended in the amount of $160,000 from $3,120,651 to a total budgeted expenditure and other financing uses of $3,280,651.
Adopted this 27th day of May, 2014
WOODLANDSCHOOL DISTRICT #404
BOARD OF DIRECTORS
ATTEST:
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Secretary to the Board President
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Director