HomeMy Public PortalAbout1994-063Member Philip Zietlow introduced the following
resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 94-63
RESOLUTION DECLARING THE CITY HAS
ADEQUATE RESERVES TO COVER BONDED
INDEBTEDNESS IN 1995
WHEREAS, the City of Medina shows the following levy amounts
on the bond register for payment of debt service in 1995:
General Obligation Improvement Bonds of 1985
General Obligation Improvement Bonds of 1987
General Obligation Improvement Bonds of 1992
$ 10,300
$ 33,700
$147,600
WHEREAS, the City of Medina has determined that it has
adequate reserves to cover the principal and interest payments due
in 1995 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 said
G.O. Improvements and pledges to appropriate funds for the
debt service payments in 1995.
ATTEST:
Mayor
Ci v r&e4Trea rer
The motion for the adoption of the foregoing resolution was duly
seconded by member John Ferris and upon vote being
taken thereon, the following voted in favor thereof:
Ferris, Zietlow and Mayor Anne Theis
and the following voted against: none
and the following were absent: James Johnson and Ann Thies
Whereupon said resolution was declared duly4passed and adopted this
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20th day of September , 9 .