RES 1988-23 - 00004368ICI
RESOLUTION NO. 23 - 1988
RESOLUTION AUTHORIZING THE TRANSFER OF THE REMAINING FUNDS
FROM THE RETIRED SPECIAL ASSESSMENT FUNDS TO THE CAPITAL
IMPROVEMENT FUND AND THE M.I.S. FUND
WHEREAS, the City of Fridley established the Bond Funds of 1960, 1962, 1963,
1965 and 1967 to service the debt associated with the construction of
assessable projects; and
WHEREAS, the payment of all bonds and related interest was completed in past
years; and
WHEREAS, the remaining balances should be used for general purpose Capital
Improvements.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Fridley
authorizes the transfer of $400,000 to the M.I.S. Fund; and
BE IT FURTHER RESOLVED that the balance of remaining funds or $1,860,185.09 be
transferred to the Capital Improvement Fund.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 7TH DAY OF
MARCH, 1988
ATTEST:
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SHIRLEY A. fMPALA - CI CLERK
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WILLIAM J. NEE MAYOR