HomeMy WebLinkAboutResolution 6723 Koko
CITY OF ORONO
RESOLUTION OF THE CITY COUNCIL
NO. 6 j E''
4kESHO
A RESOLUTION TO CLOSE THE 2004 GENERAL OBLIGATION
REFUNDING BOND FUND
WHEREAS,the 2004 GO Improvement Refunding Bond Fund was established to service
the debt on the 2004 GO Improvement Refunding Bonds; and
WHEREAS, the 2004 GO Improvement Refunding Bonds have been paid in full; and
WHEREAS,the fund balance of the 2004 debt service fund is available to be used to fund
other City need; and
WHEREAS, the Pavement Management Fund requires additional funds to pay for
scheduled 2017 projects;
NOW, THEREFORE, BE IT RESOLVED that the 2004 GO Improvement Refunding
Bond debt service fund be closed and that the remaining equity in the fund be transferred to
Pavement Management fund.
Adopted by the City Council of the City of Orono, Minnesota, at a regular meeting held
February 13, 2017.
ATTEST:
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Anna Carlson, City Clerk Dennis Walsh, Mayor