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A RESOLUTION AUTHORIZING THE CLOSURE OF BOND FUNDS 504 <br />AND 511 AND TRANSFERRING REMAINING BALANCES <br />OF THOSE FUNDS TO THE CLOSED BOND FUND <br />Member introduced the following resolution <br />and moved its adoption: <br />WHEREAS, <br />The debt service obligations of the $190,000 General Obligation <br />Improvement Bonds of 1976 (Bond Fund 504), and the $105,000 General <br />Obligation Improvement Bonds of 1984 (Bond Fund 511), have been completed; <br />AND WHEREAS, <br />The remaining balance for Bond Fund 504 is $120,978.82 and for Bond Fund <br />511 is $17,168.11; <br />NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LITTLE CANADA, <br />MINNESOTA <br />That Council hereby authorizes the closure of Bond Fund 504 and Bond Fund <br />511 and transfers the remaining balances of these funds to the Closed Bond <br />Fund. <br />The motion for the adoption of the foregoing resolution was seconded by <br />Council Member and upon vote taken thereon, <br />the following voted in favor: <br />and the following voted against the same: <br />Whereupon said resolution was declared duly passed and adopted. <br />Attest: <br />Joel R. Hanson, City Administrator <br />Page 26 <br />Raymond G. Hanson, Mayor <br />