HomeMy Public PortalAbout2023-054 Resolution Authorizing the Transfer of Funds from IPAIT to QCB&T for the City Hall Parking Lots Projecti~
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RESOLUTION 2023-054
Resolution Authorizing the Transfer of Funds from IPAIT to Quad City Bank
& Trust for the City Hall Parking Lots Reconstruction Project
WHEREAS, the City of Riverdale, Iowa (City), is a Municipal Corporation, organized and operating under
the laws of the State of Iowa; and,
WHEREAS, the City Hall parking lots, located at 110 Manor Drive, Riverdale, Iowa, are in disrepair and in
need of replacement, for which the City has gone out for bid and selected a contractor for the project;
said project is scheduled to begin in approximately July of 2023; and,
WHEREAS, the City maintains diversified investment accounts with IPAIT, and the total current balance of
its accounts is $199,831.81; and,
WHEREAS, the Clerk advises transferring $199,000 from the City's IPAIT investment accounts to its Quad
City Bank & Trust checking account to be used for the City Hall Parking Lots Reconstruction Project.
NOW THERE FOR IT BE RESOLVED that:
Section 1.
The Council of the City of Riverdale authorizes the Clerk to initiate a transfer of $199,000
from its IPAIT investment accounts to its Quad City Bank & Trust checking account to be
used for the City Hall Parking Lots Reconstruction Project.
Passed and approved this 11th day of July 2023.
Anthony Heddlesten, Mayor
ATTEST:
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511
www.riverdaleia.org