HomeMy Public PortalAbout2011-031 Resolution Authorizing Debt Service Fund Balance Transfer and ClosingMember Weir introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2011-31
RESOLUTION AUTHORIZING DEBT SERVICE FUND
BALANCE TRANSFER AND CLOSING
WHEREAS, the City of Medina has made the final payment on the 2005 GO Improvement
Bonds; and
WHEREAS, the City of Medina desires to transfer any remaining balance after payment to
the Road Improvement Fund;
NOW, THEREFORE, BE IT RESOLVED by the city council of the city of Medina, that the City
of Medina hereby agrees to the following adjustments to the City's Funds by authorizing the
transfer of $23,695.72 from the 2005 GO Improvement Bond debt service fund to the Road
Improvement Fund
BE IT HEREBY FURTHER RESOLVED, that this resolution shall authorize the closure of
said fund upon completion of the indicated transaction.
Dated: May 3, 2011.
ATTEST:
Chad M. Adams, City Administrator - Clerk
T.
e
M. Crosby, 7r., May r
The motion for the adoption of the foregoing resolution was duly seconded by member Pederson
and upon vote being taken thereon, the following voted in favor thereof:
Crosby, Martinson, Pederson, Weir
And the following voted against same: (Absent: Siitari)
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2011-31
May 3, 2011