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Co <br />DEC \ 8 2000 <br />QllY ur Oh ONU <br />REQUEST FOR COUNCIL ACTION <br />DATE: December 18,2000 <br />ITEM NO; // <br />Department Approva^ —' Administrator Reviewed: Agenda Section: <br />Name TomKuehnCity Administrator’s <br />Title Finance Director Report <br />Item Description: ^ <br />1997 Sewer Construction Fund Close Out - Resolution <br />Attachment: Resolution To Close the 1997 Sewer Construction Fund <br />.’If <br />In 1997 Council authorized the sale of the 1997 G.O. Improvement Bonds to provide funding <br />for sanitary sewer improvement project areas identified as North Long Lake, Long Lake <br />Country Club, Bay Ridge and Brackett ’s Point, and for sanitary sewer and water <br />improvements for the Orono Ice Arena. The projects have been completed and the balance <br />remaining in the construction fund is $116. As there is bonded debt outstanding, the <br />remaining equity of the construction fund should be transferred to the debt service fund. <br />COUNCIL ACTION REQUESTED: <br />Adoption of Resolution #, A Resolution to Close the 1997 Sewer Construction <br />Fund to the 1997 Improvement Bond Debt Service Fund. <br />WrWINtAWn>OC»TO%f<3gM$7CMW> »p4