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RESOLUTION 87-38 <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION CLOSING SEWER BONDS OF 1972 FUND <br />WHEREAS, construction of all improvements from Sewer Bond Fund <br />are complete; and <br />and <br />WHEREAS, all claims for said improvements have been paid; and <br />WHEREAS, all bonds and interest for fund expenses have been paid; <br />WHEREAS, said fund has a balance of $91,697. <br />NOW, THEREFORE, BE IT RESOLVED THAT $80,532 in the Sewer Bonds of <br />1972 be transferred to the street bonds of 1974 and the remaining <br />balance of $11,165 be transferred to the Closed Bond Fund. <br />BE IT FURTHER RESOLVED THAT all other assets, including future <br />special assessments of the Sewer Bond Fund are hereby transferred to <br />the Closed Bond Fund. <br />BE IT FURTHER RESOLVED THAT said 1972 Sewer 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 />Arlyn Christ, Mayor <br />Attest:Robert Lee Lee Overby, City Administrator <br />