HomeMy WebLinkAboutResolution 6598CITY OF ORONO
RESOLUTION OF THE CITY COUNCIL
NO. 6598
A RESOLUTION TO CLOSE THE 2005 HRA PUBLIC PROJECT
REVENUE BOND FUND
WHEREAS, the 2005 HRA Public Project Revenue Bond Fund was established to service
the debt on the 2005 HRA Public Project Bonds; and
WHEREAS, the 2005 HRA Public Project Bonds were refunded as part of the 2014
General Obligation Bond sale; and
WHEREAS, the fund balance of the 2005 fund is needed to service the debt on the 2014
bonds;
NOW, THEREFORE, BE IT RESOLVED that the 2005 HRA Public Project Revenue
Bond debt service fund be closed and that the remaining equity in the fund be transferred to the
2014 General Obligation Bond debt service fund.
Adopted by the City Council of the City of Orono, Minnesota, at a regular meeting held
March 14, 2016.
ATTEST:
Tiegs, City Clerk
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Lili Tod McMillan, Mayor