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CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO. <br />A RESOLUTION TO CLOSE THE 2005 HRA PUBLIC FACILITES BOND FUND <br />WHEREAS, the 2005 HRA Public Facilities Bond Fund was established to service the <br />debt on the 2005 HRA Public Facility Revenue Bonds; and <br />WHEREAS, the 2005 HRA Public Facility Revenue Bonds have been paid in full; and <br />WHEREAS, the fund balance of the 2005 debt service fund is available to be used to <br />fund other City need; and <br />WHEREAS, 2005 HRA Public Facility Bonds were originally sold to fund the purchase <br />and establishment of the Big Island Nature Park; and <br />WHEREAS, the Big Island Fund has been established to fund activities and <br />improvements at Big Island Nature Park; <br />NOW, THEREFORE, BE IT RESOLVED that the 2005 HRA Public Facilities Bond <br />Fund be closed and that the remaining equity in the fund be transferred to Big Island Fund. <br />Adopted by the City Council of the City of Orono, Minnesota, at a regular meeting held <br />December 10, 2018. <br />ATTEST: <br />Anna Carlson, City Clerk Dennis Walsh, Mayor <br />