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A RESOLUTION AUTHORIZING THE CLOSURE OF FUND 306 <br />AND TRANSFERRING THE REMAINING BALANCE TO THE <br />$1,485,000 REFUNDING BONDS OF 1992B DEBT SERVICE FUND <br />WHEREAS, <br />The debt <br />Bonds of <br />issuance <br />WHEREAS, <br />service obligations of the $1,515,000 G.O. Storm Sewer <br />1986 (Debt Service Fund 306) have been assumed by the <br />of $1,485,000 Refunding Bonds of 1992B (Fund 315); and <br />The remaining fund balance for Fund 306 is $579,756.37; <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 <br />balance to the $1,485,000 Refunding Bonds of 1992B Fund (Fund <br />315) and the closure of Fund 306, retroactive to December 31, <br />1995; <br />The motion for the adoption of the foregoing resolution was <br />seconded by Council Member and upon vote taken <br />thereon, the following voted in favor thereof: <br />Fahey, LaValle, Morelan, Pedersen, and Scalze; <br />and the following voted against the same: None. <br />Whereupon said resolution was declared duly passed and adopted. <br />1/25/96 <br />Page 26 <br />