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<br />. <br /> <br />. <br /> <br />. <br /> <br />WHEREAS: <br /> <br />WHEREAS: <br /> <br />WHEREAS: <br /> <br />WHEREAS: <br /> <br />\mEREAS: <br /> <br />RESOLUTION NO. 85-70 <br /> <br />RESOLUTION REGARDING TRANSFERRING OF FUNDS <br />FROM DEBT SERVICE FUND <br /> <br />The Orono Dam Construction Fund has a fund balance of ei8ht <br />thousand thirty seven dollars $8 ,037.00 ; and <br /> <br />The construction phase of the Orono Dam Proj ec t has been completed <br />and the audit of the project has also been completed; and <br /> <br />The 1983 Certificate of Indeptedness Capital Project Fund has a <br />fund balance deficit of five hundred and ten dollars $510.00 for <br />which no revenues are anticipated to eliminate this deficit; and <br /> <br />The 1978 certificate of Indebtedness Debt Service Fund has a fund <br />balance of fifty thousand-four hundred and ninety two dollars <br />$50,492.00, and <br /> <br />The 1978 eertificates of Indebtedness have been paid in full, <br /> <br />NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Elk River as <br />follows: <br /> <br />Dated this <br /> <br />1. The fund balance of eight thousand thirty seven do11a~s <br />$8,037.00 in the Orono Dam Capital Projects Fund is hereby <br />transferred to the Orono Dam Debt Service Fund. <br /> <br />2. Five-hundred and ten dollars $510.00 is hereby transferred <br />from the General Fund to 1983 Certificate of Indebtedness <br />Capital Projects Fund to eliminate the fund balance deficit. <br /> <br />3. The remaining fund balance of fifty thousand-four hundred and <br />ninety two dollars $50,492.00 in the 1978 Certificates of <br />Indebtedness Debt Service Fund is hereby transferred to the <br />General Fund. <br /> <br />1 A+-h <br /> <br />day of NmTPmhpr 1985, <br /> <br />~"""~~ <br />// ... ,./,., .//~/ )/ ..-""',/ <br />"-=~ _A'c., .. <br />yor <br /> <br />~ :'1?~ <br />. 11'1-(4-.. . . . . .... ,. <br />City Administrator " <br />