HomeMy WebLinkAboutResolution 7346 �ivp CITY OF ORONO
RESOLUTION OF THE CITY COUNCIL
1., � ('' No.7346
A RESOLUTION TO CLOSE THE 2016 GENERAL OBLIGATION
REFUNDING BOND FUND
WHEREAS,the 2016 GO Improvement Bond Fund was established to service the debt on
the 2016 GO Refunding Bonds; and
WHEREAS,the 2016 GO Improvement Bonds have been paid in full and has a residual
balance that is available to be used to fund other City debt service needs; and
WHEREAS,the 2010 Debt Service Fund requires an additional amount of$235,266.96
and;
WHEREAS,the 2021 Debt Service Fund has been created to serve the 2021 GO Capital
Improvement Bonds;
NOW,THEREFORE,BE IT RESOLVED that the 2016 GO Improvement Bond Fund
debt service fund be closed and that$235,266.96 of the residual equity be transfer to the 2010 Debt
Service Fund with the balance being transferred to the 2021 Debt Service Fund.
ADOPTED this /3 day of ga kt k ,;623, byCity the Council of the
City of Orono.
CITY OF ORONO
By: rA01701
Dennis Walsh,Mayor
AT ST:
a Carlson, City Clerk