RES 11-65RESOLUTION 1 I - 65
A RESOLUTION OF THE CITY OF ELK RIVER
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A RESOLUTION AUTHORIZING A TRANSFER FROM THE GRE RESERVE
FUND TO THE 1996C ICE ARENA BONDS DEBT SERVICE FUND
WHEREAS, The City Council approved prepaying the 1996C Ice Arena Bonds on
November 14, 2011, and,
WHEREAS, The City Council has reviewed the request and determined it to be a sound
financial practice; and,
WHEREAS, It has been determined that an amount not to exceed $370,000 will be
transferred out of the GRE Reserve Fund to provide funding for the prepayment of the
1996C Ice Arena Bonds;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk
River makes the following transfer of funds from the GRE Reserve Fund:
1996C Ice Arena Bonds Debt Service Fund $370,000
Passed and adopted this 14~' day of November 2011.
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Tina Allard, City Clerk