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<br /> <br />tervi[{e <br /> <br />uta6[isfied 1857 <br /> <br />1880 Main Street .. Centervi[[e; M9{ 55038 <br />(651) 429-3232 . '.Fat( (651) 429-8629 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF CENTERVILLE <br /> <br />RESOLUTION #03 - 025 <br /> <br />A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO CLOSE <br />DEFICIT FUNDS <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />CENTERVILLE, MINNESOTA: <br /> <br />WHEREAS, the 1987 Street Reassessment Debt Service Fund has a deficit balance of <br />$21,363.67; and <br /> <br />WHEREAS, the 1987 Street Reassessment Bond has been satisfied and the Debt Service <br />Fund is no longer necessary; and <br /> <br />WHEREAS, the Downtown Redevelopment Capital Project Fund has a deficit balance <br />of$8,559.98; and <br /> <br />WHEREAS, the Downtown Redevelopment Plan is currently on hold pending the results <br />of a major road construction project. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />CENTERVILLE, MINNESOTA that the Finance Director is authorized to close the <br />1987 Street Reassessment Debt Service Fund with a permanent transfer from the General <br />Fund. <br /> <br />BE IT FURTHER RESOLVED that the Finance Director is authorized to close the <br />Downtown Redevelopment Capital Project Fund with a temporary transfer from the <br />General Fund, pending completion and assessment of the proposed project. <br /> <br />PASSED AND ADOPTED by the City ofCenterville this 23rd day of April, 2003. <br /> <br />Mayor, Terry Sweeney <br /> <br />Attest: <br /> <br />City Clerk, Teresa Bender <br />