HomeMy WebLinkAboutResolution 2450 i
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�� .-� R�SOLUTION OF THE CITY COUNCIL
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; "�, � NO. 2450
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� A RESOLIITION TO CLOSE THE G.O. STATE AID 1979 ROAD
a °BOND DEBT SERVICE FIIND TO THE P.I.R. FIIN1D AGCOIINT FOR
,� ROAD AND BRIDGE CONSTRIICTION, MAIPTENANCE AND REPAIR PROJECTS
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� WH$REAS, the G.O. State Aid 1979 Road Bond Debt Service
.� Fund was established to account for the payment of said bond
. principal and interest; and
� WHEREAS , the final payment of bond principal and '
interest was on April 1 , 1988 and the remaining fund balance of
• $7,3PJ9.96 at May 31, 1988 is no longer required for debt service;
and
WHERSAS, on June 22 , 1987 the City established the
• P.I.R. Fund Account for Road and Bridge Construction, Maintenance
and Repair Projects so that a source of funds would be available
• for road/br idge proj ects.
' NOW, THEREFORE BE IT RESOLVED, that the G.O. State Aid
1979 Road Bond Debt Service Fund be closed and that the fund
balance at May 31, 1988 of $7,309.96 be transferred to the P.I.R.
. Fund Account for Road and Bridge Construction, Maintenance and
� ' Repair Projects.
. Adopted by the Orono City Council of the City of Orono,
Minnesota at a regular meeting held June 13, 1988.
�
mes R. Grabe , Mayor
� ATTE T:
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`,D othy allin, City Clerk .
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