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A RESOLUTION AUTHORIZING THE CLOSURE OF <br />FUND 506 G.O. IMP. REFUNDING BONDS OF 1993B <br />AND TRANSFERRING THE REMAINING FUND BALANCE TO <br />FUND 450 INFRASTRUCTURE CAPITAL IMP. FUND <br />WHEREAS, <br />The debt service obligations of the $350,000 G.O. Imp Refunding Bonds of 1993B (Debt <br />Service Fund 506) have been completed; and, <br />WHEREAS, <br />The remaining fund balance for Fund 506 is $258,421.92; <br />NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LITTLE <br />CANADA, MINNESOTA <br />That Council hereby authorizes the transfer of the remaining fund balance to the Infrastructure <br />Capital Improvement Fund (Fund 450) and the closure of Fund 506, retroactive to December 31, <br />1998; <br />The motion for the adoption of the foregoing resolution was seconded by Council Member <br />and upon vote taken thereon, the following voted in favor thereof: <br />Fahey, LaVaile, Morelan, Pedersen, and Scalze; <br />and the following voted against the same: None. <br />Whereupon said resolution was declared duly passed and adopted. <br />2/8/99 <br />Page 6 <br />