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Agenda Section: 8.9 <br /> mos IlliREQUEST FOR COUNCIL CONSIDERATION Report Number: 92-169C <br /> Report Date: <br /> Council Action: 2-6-92 <br /> fEVJ STAFF REPORT <br /> ❑ Special Order of Business <br /> CITY COUNCIL MEETING DATE February 10, 1992 El Public Hearings <br /> I7 Consent Agenda <br /> ❑ Council Business <br /> Item Description: Resolution No. 4184 closing Improvement Bonds of 1981 and Advance <br /> Refunding Bonds of 1976, and Resolution No. 4185 establishing the City <br /> Nall Tmprnvampn t s Fi+nrl _ <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report .016- <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> SUMMARY; <br /> The last payments of principal and interest on the Advance Refunding Bonds of 1976 and the <br /> Improvement Bonds of 1981 were made in 1991. The funds from which the debt service <br /> payments were made are considered to be matured bond funds. Any monies remaining in the <br /> funds may be used for any public purpose. The 1992 Budget provides for the closing of these <br /> funds and the transfer of any monies remaining in them to be used for City Hall <br /> improvements. Resolutions are attached for your review which close the two matured bond <br /> funds, establish a City Hall Improvement Fund, and transfer monies from the bond funds to <br /> the City Hall Improvement Fund. Should you have any questions please do not hesitate to <br /> contact me. <br /> c04-v- 0,-D-A <br /> RECOMMENDATION; Donald Brager, Financerector <br /> Adopt Resolution No. 4184 closing Improvement Bonds of 1981 and Advance Refunding <br /> Bonds of 1976 and Resolution No. 4185, establishing the City Hall Improvements Fund <br />