HomeMy WebLinkAboutResolution 6923 ���0 CITY OF ORONO
RESOLUTION OF THE CITY COUNCIL
y�q �ti��� No. 6 9 2 3
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A RESOLUTION TO CLOSE THE 2005 HRA PUBLIC FACILITES BOND FUND
WHEREAS,the 2005 HRA Public Facilities Bond Fund was established to service the
debt on the 2005 HRA Public Facility Revenue Bonds; and
WHEREAS, the 2005 HRA Public Facility Revenue Bonds have been paid in full; and
WHEREAS,the fund balance of the 2005 debt service fund is available to be used to
fund other City need; and
WHEREAS, 2005 HRA Public Facility Bonds were originally sold to fund the purchase
and establishment of the Big Island Nature Park; and
WHEREAS,the Big Island Fund has been established to fund activities and
improvements at Big Island Nature Park;
NOW, THEREFORE,BE IT RESOLVED that the 2005 HRA Public Facilities Bond
Fund be closed and that the remaining equity in the fund be transferred to Big Island Fund.
Adopted by the City Council of the City of Orono, Minnesota, at a regular meeting held
December 10, 2018.
ATTEST:
a Carlson, City Clerk Dennis Walsh, Mayor