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<br /> <br /> <br />CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO. 7346 <br />A RESOLUTION TO CLOSE THE 2016 GENERAL OBLIGATION <br />REFUNDING BOND FUND <br /> <br /> <br />WHEREAS, the 2016 GO Improvement Bond Fund was established to service the debt on <br />the 2016 GO Refunding Bonds; and <br /> <br />WHEREAS, the 2016 GO Improvement Bonds have been paid in full and has a residual <br />balance that is available to be used to fund other City debt service needs; and <br /> <br />WHEREAS, the 2010 Debt Service Fund requires an additional amount of $235,266.96 <br />and; <br /> <br />WHEREAS, the 2021 Debt Service Fund has been created to serve the 2021 GO Capital <br />Improvement Bonds; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the 2016 GO Improvement Bond Fund <br />debt service fund be closed and that $235,266.96 of the residual equity be transfer to the 2010 Debt <br />Service Fund with the balance being transferred to the 2021 Debt Service Fund. <br /> <br /> <br /> <br /> <br /> ADOPTED this _______ day of ________________, ____, by the City Council of the <br />City of Orono. <br /> <br />CITY OF ORONO <br /> <br />By: _______________________________ <br /> Dennis Walsh, Mayor <br /> <br />ATTEST: <br /> <br />______________________________ <br />Anna Carlson, City Clerk <br />