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CITY OF CENTERVILLE <br /> Res. <br /> A RESOLUTION FUNDING 2016 DEBT SERVICE PAYMENT FOR THE 2015A <br /> GENERAL OBLIGATION IMPROVEMENT REFUNDING BOND <br /> WHEREAS, the debt levy schedule for the 2015A G.O. Improvement Refunding Bonds requires <br /> a debt levy in the amount of$44,108.39 for taxes payable in 2016; and, <br /> WHEREAS, the City of Centerville plans to fund the 2016 debt service payment for the 2015A <br /> G.O. Improvement Refunding Bonds from land sale proceeds; and, <br /> WHEREAS, the City of Centerville currently has a balance of$39,816 in the debt service fund, <br /> which will fund the 2016 debt service payments of$22,997.50 if the land sale does not occur. <br /> NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> CENTERVILLE, MINNESOTA elects to not extend a debt service levy in the amount of <br /> $44,108.39 for the 2015 G.O. Improvement Refunding Bonds for taxes payable in 2016. <br /> Adopted by the City Council this 14th day of October, 2015. <br /> Tom Wilharber, Mayor <br /> ATTEST: <br /> Teresa Bender, City Clerk <br />