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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 87 - 82 <br /> <br />RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE <br />GENERAL OBLIGATION IMPROVEMENT BOND FUND OF 1976 TO <br />THE CITY HALL RESERVE FUND <br /> <br />WHEREAS, the General Obligation Improvement Bonds of 1976 have <br />been retired; and, <br /> <br />WHEREAS, the General Obligation Improvement Bond Fund of 1976 <br />has excess cash of approximately $18,000.00; and, <br /> <br />WHEREAS, Minnesota Statute Sections 435.203 and 475.61 <br />Subdivision 4 allow for the transfer of these funds for <br />any general purpose; and, <br /> <br />WHEREAS, the City Council deems it necessary to create a City <br />Hall Reserve Fund for the future construction of a <br />permanent City Hall facility. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River that any remaining funds in the General <br />Obligation Improvement Bond Fund of 1976 be transferred <br />to the City Hall Reserve Fund and the General <br />Obligation Improvement Bond Fund of 1976 be closed. <br /> <br />Passed and adopted this 21st day of December, 1987, by the City <br />Council of the City of Elk River. <br /> <br />ATTEST: <br /> <br />{ltzj// r .AA--~j <br /> <br />Estelle E. Gunkel, Mayor <br /> <br />lir~Z? Q~ <br /> <br />Patrick D. Klaers, City Administrator <br />