HomeMy WebLinkAbout91-023 CI'I'Y OF LAKE'~m J F
RESOLUTION
March 4, 1991 Resolution No. 91-23
Motion by Sindt Seconded kyy Mulvihill
RE9OLiTPI~I AUIIi09.2IZING Il~iaID
SAS the City Council, on Decembex 17, 1990, approved
Resolution 90-166 authorizing redemption of General Obligation Improvement
bonds of 1983; and,
the General Obligation Improvement Bond Fund of 1983
has approximately $48,469 of delinquent special assessment receivables,
$87,062 of deferred special assessment receivables, and $72,955 of cash;
and,
the City Council wishes to utilize the unencumbered
balances frarn the General Obligation Improvement bonds of 1983 to acquire
park land; and,
~@!.S the cost of acquiring approximately 11 acres of park
• land adjacent to Valley Lake Park is approximately $204,000,
NCJW, B~ 1T RB'9(~LVID, that the Lakeville City Council
authorizes the following:
1. 'lie sale of all delinquent and deferred special assessment
receivables from the Debt Service Funds for the General
Obligation Improvement Bonds of 1983 to the Utility Trunk
F1.u1d for approximately $135, 531.
2. Transfer $204,000 frown the General Obligation Improvement
Bonds of 1983 to the Park Dedication Fund.
APP~~7VBD Aim ADO~~ by the City Council of the City of
Lakeville, Minnesota, this 4th day of March, 1991.
CITY F
BY•
Zaun, May
Charlene Friedges, City lerk