Resolution 19-260 was approved on November 18, 2019 giving the City permission to repurpose a portion of the unspent bond proceeds for the 2016A General Obligation bonds. At the same time of the repurpose, the City deemed it necessary to reallocate the premium on the 2016A bond proceeds from the Capital fund to the Debt Service fund. Typically, premium on bonds is allocated to Debt Service to apply toward future principal and interest payments on the bonds. Due to a change in the Administrative Code for the State of Iowa (Iowa Code 545-2), a fund transfer resolution must be completed for all transfer between funds. At this time, the City is requesting Council to approve the transfer of $102,765 from the Capital fund to the Debt Service fund.