HomeMy Public PortalAbout1999-051113
Member Zietlow introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.99-51
RESOLUTION DECLARING THAT THE CITY HAS
ADEQUATE RESERVES TO COVER BONDED
INDEBTEDNESS IN 2000
WHEREAS, the City of Medina shows the following levy amounts on the bond register for payment
of debt in 2000:
• $870,000 General Obligation Improvement Bonds of 1992 .$ 55,400
WHEREAS, the Medina City Council has determined that it has adequate reserves to cover the
principal and interest payments due in 2000 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 2000.
Dated: September 7, 1999
ohn B. Ferris, Mayor
EST:
Paul Robinson, City Clerk -Treasurer
99-51
09-07-99
114
The motion for the adoption of the foregoing resolution was duly seconded by member Ferris and upon
vote being taken thereon, the following voted in favor thereof:
Ferris, Hamilton, Johnson, Smith, and Zietlow
and the following voted against same: None
Whereupon said resolution was declared duly passed and adopted.
99-51
09-07-99