Laserfiche WebLink
�__ <br /> �� 0� <br /> �:. O O <br /> ��e. - CITY of ORONO <br /> _. ,� � ,. <br /> �� G'�' RESOLUTION OF THE CITY COUNCIL <br /> ��SH�4� NO. � � 9 � � <br /> A RESOLUTION TO CLOSE THE 1997 SEWER CONSTRUCTION FUND <br /> TO THE 1997 IMPROVEMENT BOND DEBT SERVICE FUND <br /> � � : WHEREAS,the 1997 Sewer Construction Fund was established to account for the <br /> proceeds provided by the issuance of the 1997 G.O. Improvement Bond, and the , <br /> �• disbursement of said proceeds for payment of construction costs for sanitary sewer <br /> improvements to the proj ect areas identified as North Long Lake,Long Lake Country Club, <br /> Bay Ridge and Brackett's Point, and for sanitary sewer and water improvements to the <br /> Orono Ice Arena project; and <br /> WHEREAS, the projects have been completed and the costs have been paid, <br /> including construction contracts,legal,engineering,fiscal and miscellaneous costs,and the <br /> remaining equity of the Fund is no longer required; and <br /> � WHEREAS,any remaining construction fund equity must first be transferred to the � <br /> fund servicing the debt generated for the improvement projects if any such debt remains <br /> unpaid, and <br /> WHEREAS, the 1997 G.O. Improvement Bond has outstanding unpaid bond <br /> principal; <br /> NOW, THEREFORE BE IT RESOLVED,that the 1997 Sewer Construction Fund <br /> be closed and that the remainina equity be transferred to the 1997 Improvement Bond Debt <br /> Service Fund. � <br /> Adopted by the City Council of the City of Orono, Minnesota at a special meeting <br /> ' � ' held December 18, 2000. � � <br /> ATTEST: <br /> �CJf ��_ <br /> Linda S. Vee, City Clerk Gabri Jabbour, Mayo , <br /> SWPW4ti60\WPDOCS\TObnClose97Crea.wpd <br />