88-101 RES
RESOLUTION 88 - 101
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A RESOLUTION FOR THE CITY OF ELK RIVER
RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM
THE 1983 EQUIPMENT CERTIFICATE OF INDEBTEDNESS TO
THE EQUIPMENT RESERVE FUND
WHEREAS, the 1983 Certificate of Indebtedness has been retired,
and;
WHEREAS, the 1983 Certificate of Indebtedness debt service fund
has a cash balance of approximately $1,100, and;
WHEREAS, Minnesota Statutes Section 435.203 and 475.61
Subdivision 4, allow for the transfer of these funds
for any general purpose.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Elk River that any remaining funds in the 1983
Certificate of Indebtedness debt service fund be
transferred to the Equipment Reserve Fund and the 1983
Certificate of Indebtedness fund be closed.
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~assed and adopted this 19th day of December, 1988, by the City
Council of the City of Elk River.
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Estelle E. Gunkel, Mayor
ATTEST:
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Patrick D. Klaers, City Administrator
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