5.j) Res 03-17-15-01 Close Debt Service Funds 302 and 307RESOLUTION NO.03-17-15-01
A RESOLUTION TO CLOSE OUT DEBT SERVICE FUNDS 302 AND 310 THAT HAVE
BEEN PAID IN FULL
WHEREAS, the City of Scandia has paid in full the Building Crossover Refunding Bonds of
2005, Fund 310, in November, 2014; and
WHEREAS, the Road Improvement Bond of 2002, Fund 302, was paid off in 2008; and
WHEREAS, there is a remaining balance in account Fund 310, in its cash account, in the
amount of $9,559.74; and
WHEREAS, the remaining balance in Fund 202 was transferred into Fund 307; and
NOW, THEREFORE; BE IT RESOLVED, that the city council of the City of Scandia agrees
to close out these funds and transfer any remaining funds to its 2007 Road Improvement Bond,
Fund 307 cash account, with an effective date of December 31, 2014.
Adopted and passed this 17th day of March, 2015 by order of the Scandia City Council.
Randall Simonson, Mayor
ATTEST:
Kristina Handt, Administrator/ Clerk