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<br />STAFF REPORT <br />CENTERVILLE CITY C UNCIL <br /> <br />Honorable Mayor and City ooneil Members <br />Ms. Kim Moore-Sykes, Ci Administrator <br /> <br />Ellen Paulseth, Finance irector c:eJ <br /> <br />Hunters Crossing P I <br /> <br /> <br />Date: <br /> <br />Aogust 27, 2003 <br /> <br />To: <br /> <br />From: <br /> <br />Re: <br /> <br /> <br /> <br /> <br />***************************** ****************************************** <br /> <br /> <br />A balance of $35,648.51 remains the Hunters Crossing Phase I Project account. <br />Unlike several other projects, th bond for this project was structured in such a way that <br />-. the City was able to benefit :fro a positive arbitrage situation. The money can be <br />transferred to the Debt Servic unci to help pay off the bond. If the money is needed for <br />issues that may arise during e warranty period, the council can transfer the money to <br />another fund as needed. A lution is attached. <br /> <br />