Laserfiche WebLink
<br /> <br />tervi{{e <br />'Esta6Cisl1d 1857 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF CENTERVILLE <br /> <br />1880 :Main Street . Centeroiffe, 'M:N 55038 <br />(651) 429-3232 . PIVC(651) 429-8629 <br /> <br />RESOLUTION #05 - 025 <br /> <br />A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS IN THE AMOUNT OF $41,008.72 <br />FROM THE GENERAL FUND TO THE PARKVIEW DEBT SERVICE FUND <br /> <br />WHEREAS, the City Council of the City of Centerville wishes to call in the $615,000 General Obligation <br />Improvement Bonds, Series 1998, and pay off the remaining principal payments in the amount of $280,000 plus <br />accrued interest; and, <br /> <br />WHEREAS, the balance in the Parkview Debt Service Fund is approximately $41,008.72 short of the amount <br />that would be necessary to redeem the bonds. <br /> <br />llIEREFORE, BE IT RESOLVED that Council hereby authorizes a temporary transfer of $41,008.72 from <br />the General Fund to the Parkview Debt Service Fund. <br /> <br />BE IT FURTHER RESOLVED that the transfer obligation will be repaid as deferred assessments are received <br />for the Parkview Project. After all assessments related to the project have been received by the City and <br />transferred back to the General Fund, the remaining balance due on the transfer will become a permanent <br />transfer from the General Fund, unless otherwise designated by the Council. <br /> <br />PASSED AND ADOPTED by the City Council this 25th day of May, 2005 <br /> <br />Attest <br /> <br />City Clerk <br /> <br />Mayor <br />