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MCPX^^^Q <br />REQUEST FOR COUNCIL ACTION <br />DEC 1 8 2000 DATE: December 18,2000 <br />g: IY ui* OhUixu ITEM NO: <br />Department Approvab^ <br />Name Tom Kuehn*^> <br />Title Finance Director <br />Administrator Reviewed:Agenda Section: <br />City Administrator's <br />Report <br />Item Description: <br />1982 G.O. Improvement Bonds Debt Ser\'ice Fund Close Out - Resolution <br />Attachment: Resolution to close the 1982 G.O. Improvement Bond Debt Service Fund <br />The final payment of the 1982 bond principal and interest was made in February, 1999. The <br />remaining equity in the fund is approximately $96,600. The equity is made up of investment <br />earnings accrued, the collection of a senior citizen deferred assessment, and fees collected <br />for property not included in the original 1982 project but requesting in 1999 to connect to <br />the existing sewer and water system. The remaining equity in the fund is no longer required <br />for debt service and it is requested that it be closed to the Water Operating and Sewer <br />Operating Enterprise Funds. The equity is allocated $22,500.00 to the Water Operating <br />Fund, and $74,107.31 to the Sewer Operating Fund. <br />COUNCIL ACTION REQUESTED: <br />Adoption of Resolution #A Resolution to Close the 1982 G.O. Improvement <br />Bonds Debt Service Fund to the Water Operating and Sewer Operating Enterprise Funds. <br />^TW1H6fl^WFDOCS\TQbfVCIoief 2Dn«fio wp4 <br />1 <br />on miirti ~^fg ii H I