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If-tl <br />A RESOLUTION TO CLOSE THE 1966-76 G.O. IMPROVEMENT <br />BONDS DEBT SERVICE FUND TO THE BUILDING CAPITAL OUTLAY FUND <br />ffHBRBAS, the 1966-76 G.O. Improvement Bonds Debt Service <br />Fund was established to account for the payment of the said bonds <br />principal, interest, and fiscal agent fees; and <br />WHEREAS, the final payment of bond principal, interest, <br />and fiscal agent fees was on February 1, 1991 and the remaining <br />residual equity of $349,410.01 at June 30, 1991 is no longer <br />required for debt service; and <br />WHBRBAS, the City can designate the use of the residual <br />equity for any general purpose. <br />NOW, THEREFORE BE IT RESOLVED, that the 1966-76 G.O. <br />Improvement Bonds Debt Service Fund be closed and that the <br />residual equity at June 30, 1991 of $349,410.01 be transferred to <br />the Building Capital Outlay Fund. <br />Adopted by the City Council of the City of Orono, <br />Minnesota at a regular meeting held July 22, 1991. <br />ATTEST:Barbara A. Peterson, Mayor <br />Dorothy M. Hallin, City Clerk