HomeMy WebLinkAbout1987.03.16 RESO 1987-0034RESOLUTION 1987- 34
A RESOLUTION AUTHORIZING THE CLOSEOUT OF 1975 STORM SEWER
SINKING FUND.
WHEREAS, The Hugo City council had previously established a Sinking
Fund for the retirement of debt for the 1975 Storm Sewer Project and,
WHEREAS, The City of Hugo has made final principal and interest
payments for the retirement of bonds for said Storm Sewer Project;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Hugo, Washington County, that the 1975 Storm Sewer Sinking Fund be dis-
solved as follows;
1. $13,711.75 be transferred from the Sinking Fund Savings account
18-00093 to the Sinking Fund checking account $59-50064.
2. The Sinking Fund savings account balance of $23,375.79 be
transferred to the Sinking Fund established for the retire-
ment of bonds for the Lake Air Estates Public Improvement
Project 1984-07.
3. All delinquent assessments collected hereafter for the 1975
Storm Sewer Project be deposited in the Sinking Fund estab-
lished for the Lake Air Estates Public Improvement Project
1984-07.
Upon roll call Council members voting;
AYE: Bob Olson, Theodora Peltier, Arthur Potts, Deane Vail, George Atkinson
NAY: None
WHEREUPON said resolution was passed and adopted.
eor tkinson, Mayor
ATTEST:
Mary A.
Creager,
City
k
ADOPTED
AND PASSED
THIS
/� -d day of Alt-e"It, 1987.