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and <br />RESOLUTION 87-37 <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION CLOSING WATER BONDS OF 1962 FUND <br />WHEREAS, all bonds and interest for fund expenses have been paid; <br />WHEREAS, said fund has a balance of $62,935. <br />WHEREAS, said balance is a result of interest earned and <br />assessments paid by residents on city water in "the old village". <br />NOW, THEREFORE, BE IT RESOLVED THAT said balance of $62,935 in <br />the Water Bonds of 1962 Fund be transferred to the Water Operating <br />Fund for maintenance and improvements of the water system. <br />BE IT FURTHER RESOLVED THAT all other assets, including future <br />assessments of the Water Bond Fund are hereby transferred to the Water <br />Operating Fund. <br />BE IT FURTHER RESOLVED THAT said 1962 Water Bond Fund be closed. <br />ADOPTED by the City Council of the City of Lake Elmo this 7th day <br />of July, 1987. <br />Signed: <br />Arly�n hrist, Mayor <br />Attest: db-"Ie <br />Robert Lee Overby, City Administrator <br />