HomeMy WebLinkAboutResolution 3523 � ��
O � p CITY of ORONO
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� A RESOLUTION TO CLOSE THE 1980 G.O. Il��PROVEMEN'I' BONDS DEBT
SERVICE FUND TO THE WATER OPERATING FUND .
WHEREAS, the 1980 G.O. Improvement Bonds Debt Service Fund was
established to account for the payment of the said bonds principal, interest and fiscal agent fees;
and
. W�IEREAS, all outstanding bonds were called on March 1, 1994, the fir.al
payment of bond principal, interest and fiscal agent fees having been then made, and the
remaining residual equity of the Fund is no longer required; . and
WHEREAS, the City can designate the use of the residual equity for any general
• purpose.
NOW, TH�EREFORE, BE IT'RESOLVED that the 1980 G.O. Improvement
bonds Debt Service Fund be closed and that the residual equity at December 31, 1994 be
transferred to the Water Operating Fund to be used as a funding source of the G.O. Water and
Sewer Revenue Bonds of 1989.
. Adopted by the City Council of the City of Orono, Minnesota at a regular meeting
. held on the 13th day of February, 1995.
AT ST:
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Dorothy M a lin, City Clerk ard'J. Callahan, Jr! ayor
J. Diann Goette , Acting Mayor
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