85-070 RES
.
.
.
WHEREAS:
WHEREAS:
WHEREAS:
WHEREAS:
\mEREAS:
RESOLUTION NO. 85-70
RESOLUTION REGARDING TRANSFERRING OF FUNDS
FROM DEBT SERVICE FUND
The Orono Dam Construction Fund has a fund balance of ei8ht
thousand thirty seven dollars $8 ,037.00 ; and
The construction phase of the Orono Dam Proj ec t has been completed
and the audit of the project has also been completed; and
The 1983 Certificate of Indeptedness Capital Project Fund has a
fund balance deficit of five hundred and ten dollars $510.00 for
which no revenues are anticipated to eliminate this deficit; and
The 1978 certificate of Indebtedness Debt Service Fund has a fund
balance of fifty thousand-four hundred and ninety two dollars
$50,492.00, and
The 1978 eertificates of Indebtedness have been paid in full,
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Elk River as
follows:
Dated this
1. The fund balance of eight thousand thirty seven do11a~s
$8,037.00 in the Orono Dam Capital Projects Fund is hereby
transferred to the Orono Dam Debt Service Fund.
2. Five-hundred and ten dollars $510.00 is hereby transferred
from the General Fund to 1983 Certificate of Indebtedness
Capital Projects Fund to eliminate the fund balance deficit.
3. The remaining fund balance of fifty thousand-four hundred and
ninety two dollars $50,492.00 in the 1978 Certificates of
Indebtedness Debt Service Fund is hereby transferred to the
General Fund.
1 A+-h
day of NmTPmhpr 1985,
~"""~~
// ... ,./,., .//~/ )/ ..-""',/
"-=~ _A'c., ..
yor
~ :'1?~
. 11'1-(4-.. . . . . .... ,.
City Administrator "