Laserfiche WebLink
CITY OF ST ANTHONY VILLAGE <br /> RESOLUTION No. 10-059 <br /> IN COMPLIANCE WITH ARBITRAGE REGULATIONS <br /> A RESOLUTION CLOSING OUT THE CITY OF ST.ANTHONY'S <br /> 2005 STREET IMPROVEMENT CONSTRUCTION FUND <br /> AND TRANSFERRING THE REMAINING FUNDS <br /> TO THE 2005 BOND FUND. <br /> WHEREAS, to fund the 2005 Road Improvement Project, the City issued $1,695,000 in <br /> G.O. Improvement Bonds; and <br /> WHEREAS, arbitrage regulations require that upon the fifth anniversary of issuance of a <br /> bond a computation be made to calculate if any arbitrage rebate or yield <br /> restriction applies; and <br /> WHEREAS, Ehlers and Associates has completed the analysis and has determined that no <br /> arbitrage rebate or yield restriction exists; and <br /> WHEREAS, as part of closing out the project, the remaining balance of the Construction <br /> Fund should be closed out and transferred to the Bond Fund to make debt <br /> service payments; and <br /> WHEREAS, there are no further IRS filing forms required. <br /> NOW,THEREFORE,BE IT RESOLVED that: <br /> 1) the remaining funds of the 2005 Street Improvement Construction Fund <br /> #504 totaling$33,958.24 be transferred to the 2005A Bond Fund#503 <br /> Adopted this 14th day of Se t r 2010 <br /> / Mayor <br /> ATTEST: <br /> City Clerk <br /> Review for Administration: <br /> City Manager <br />