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AGENDA ITEM <br />Item No.: <br />Date: December 10, 2018 <br />Item Description: Close Fund 318 — 2005 GO HRA Public Facilities Bond <br />Presenter: Ron Olson, Agenda Consent Agenda <br />Finance Director Section: <br />1. Purpose. To Close Fund 318, 2005 GO HRA Public Facilities Bond. <br />2. Background. The 2005 HRA Public Facilities Bond Fund is a debt service fund that was created to <br />fund debt payments on the 2005 HRA Public Facilities (Big Island) Revenue Bonds. These bonds were <br />been paid in full as of February lst, 2018 and the fund is no longer needed for debt service. The fund's <br />current fund balance is $44,419.22 and is available for alternate uses. <br />3. Staff Recommendation. Staff is recommending transferring the assets of the fund to the Big Island <br />Fund to be used at Big Island Nature Park. <br />COUNCIL ACTION REQUESTED <br />Motion to adopt a Resolution to close the 2005 HRA Public Facilities Fund and to transfer the equity to <br />the Big Island Fund. <br />Exhibits <br />A. Resolution Closing the 2005 HRA Public Facilities Bond Fund <br />Prepared By: J?Y(g <br />Reviewed By: -Sbja <br />Approved By: -Sb)X <br />