HomeMy Public PortalAbout1993-097Member John Ferris introduced the following
resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 93-97
RESOLUTION DECLARING THAT THE CITY
HAS ADEQUATE RESERVES TO COVER BONDED
INDEBTEDNESS IN 1994
WHEREAS, the City certified to the Hennepin County Auditor
that levies would be collected in 1994 to cover the bonded
indebtedness of the General Obligation Improvement Bonds of 1985,
the General Obligation Improvement Bonds of 1987 and the General
Obligation Improvement Refunding Bonds of 1992; and
WHEREAS, the City Council has determined that the City has
adequate reserves to cover the principal and interest payments due
in 1994 for said debt obligations;
NOW, THEREFORE, BE IT RESOLVED by the City Council of Medina,
Minnesota, as follows:
1. The City of Medina hereby declares that the City has
adequate reserves to cover the bonded indebtedness of the
G.O. Improvement Bonds of 1985, the G.O. Improvement Bonds
of 1987 and the G.O. Refunding Bonds of 1992 and pledges
to appropriate funds for the principal and interest
payments in 1994.
ATTEST:
er'k-Treasurer
L_"
Acting Mayor
The motion for the adoption of the foregoing resolution was duly
seconded by member Philip Zietlow and upon vote being
taken thereon, the following voted in favor thereof:
Council Members Ferris, James Johnson, Ann Thies and Zietlow
and the following voted against: None
and the following were absent: Mayor Arne Theis.
Whereupon said resolution was declared duly 3 passed and adopted this
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7th day of December 9