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and <br />RESOLUTION 87-36 <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION ESTABLISHING A CLOSED BOND FUND <br />WHEREAS, Debt Service bonds and/or bond funds have matured; and <br />WHEREAS, all bonds and interest have been paid on matured funds, <br />WHEREAS, all claims for said funds have been paid. <br />NOW, THEREFORE, BE IT RESOLVED THAT a Closed Bond Fund be <br />established from the proceeds from matured bondo funds. <br />BE IT FURTHER RESOLVED THAT said Closed Bond Fund be used for <br />small projects and/or to provide supplemental financing for project <br />deficits and/or debt service deficits. <br />ADOPTED by the City Council of the City of Lake Elmo this 7th day <br />of July, 1987. <br />Signed: C d <br />Arlyn Chrvlst, Mayor <br />Attest: F e <br />Robert Lee Overby, City 'dministrator <br />