HomeMy WebLinkAbout19-067CITY OF LAKEVILLE
RESOLUTION NO. 19-67
RESOLUTION CLOSING DEBT SERVICE FUND
WHEREAS, Debt Service Fund 3314 was established in 2008 in conjunction with the issuance of
General Obligation Improvement Bonds, Series 2008A to finance the Donnay's Valley Park
Third Additional street reclamation, Foliage Avenue overlay, and the CSAH 50/Jubilee Way
signal lights projects; and
WHEREAS, the final debt service payment for 2008A was made on February 1, 2019; and
WHEREAS, there are residual balances in cash, interest receivable, special assessments, etc. in
Fund 3314; and
WHEREAS, Minnesota State Statute 475.61, subd (4a) provides that any surplus remaining in a
debt service fund when the obligations and interest thereon are paid may be appropriated to any
other general purpose by the municipality.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lakeville,
Minnesota, as follows:
1) The recitals set forth above are incorporated herein;
2) Debt Service Fund 3314 is closed, and all residual balances are transferred to the
Construction Improvement Fund.
ADOPTED by the Lakeville City Council this 17`'' day of June 2019
Douglas lrAnderson, Mayor
Charlene Friedges, City