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RESOLUTION I I - <br />A RESOLUTION OF THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING A TRANSFER FROM THE GRE RESERVE <br />FUND TO THE 1996C ICE ARENA BONDS DEBT SERVICE FUND <br />WHEREAS, The Ciry Council approved prepaying the 1996C Ice Arena Bonds on <br />November 14, 2011, and, <br />WHEREAS, The City Council has reviewed the request and determined it to be a sound <br />financial practice; and,. <br />WHEREAS, It has been determined that an amount not to exceed $370,000 will be <br />transferred out of the GRE Reserve Fund to provide funding for the prepayment of the <br />1996C Ice Arena Bonds; <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk <br />River makes the following transfer of funds from the GRE Reserve Fund: <br />1996C Ice Arena Bonds Debt Service Fund $370,000 <br />Passed and adopted this 14~' day of November 2011. <br />John J Dietz, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />