HomeMy Public PortalAbout1995-039Member John Ferris introduced the following resolution and moved its
adoption:
CITY OF MEDINA
RESOLUTION N0. 95-39
RESOLUTION DECLARING THAT THE CITY HAS
ADEQUATE RESERVES TO COVER BONDED
INDEBTEDNESS IN 1996
WHEREAS, the City of Medina shows the following levy amounts on the bond
register for payment of debt service in 1996:
• General Obligation Improvement Bonds of 1987 $ 37,400
• General Obligation Improvement Bonds of 1992 $131,800
WHEREAS, the Medina City Council has determined that it has adequate reserves
to cover the principal and interest payments due in 1996 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 1996.
Anne E. Theis, Mayor
ATTEST:
JerKon, Clerk -Treasurer
The motion for the adoption of the forgoing resolution was duly seconded by member
James Johnson and upon vote being taken thereon, the following voted in
favor thereof:
Ferris, Johnson, Ann Thies, Philip Zietlow and Mayor Anne Theis.
and the following voted against: None.
and the following were absent: None.
Whereupon said resolution was declared duly passed and adopted this 5th day of
September, 1995.