HomeMy Public PortalAbout1975-041Member Robert Franklin introduced the following resolution and moved its adoption:
RESOLUTION 75-41
COMBINING CIERTAIN DEBT REPAYMENT FUNDS
WHEREAS the 1968 Water, Sewer and Road Improvement Bond Fund; the 1972-1 Sewer and
Water Bond Fund; and 5.5 percent of the 1975 Sewer and Water Bond Fund were intended
to repay bonds floated for sewer, water, and road purposes in the Hamel area of Medina;
and
WHEREAS it is difficult if not impossible to accurately alloc<:te connection charges
and other fees among the three funds;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Medina hereby
combines all assets and liabilities of the 1968 Water, Sewer and Road Improvement
Bond Fund; the 1972-1 Sewer and Water Bond Fund; and 5.5 percent of the 1975 Sewer
and water bond fund into one fund, to be entitled the Hamel Improvement Bond Fund.
Dated: Aci e Ze-r 7s
ATT TST:
c
City Clerk
AVM- 21-ei
The motion for the adoption of the foregoing resolution was duly seconded by member
Donald DesLauriers, and upon vote being taken thereon, the following voted in favor
thereof:
Franklin, DesLauriers, Theis, Reiser, Neddermeyer
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.