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91-027
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91-027
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<br />'f' <br /> <br />",. <br /> <br />~' <br /> <br />I' <br />, <br /> <br />" <br /> <br />:,,' <br />, <br />I <br /> <br />RESOLUTION NO. 91-~ <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUTHORIZING DEBT TRANSFER FOR TAX INCREMENT RELATED BOND FUNDS <br /> <br />WHEREAS, in past years the City issued bonds to finance tax increment <br />projects, and; <br /> <br />WHEREAS, the bonds are being retired entirely from tax increment <br />proceeds, and; <br /> <br />WHEREAS, the accounting structure provides that the tax increments <br />are receipted into a special group of funds which is separate from the <br />bond payment funds, and; <br /> <br />WHEREAS, on an annual basis a transfer is made from the benefitted <br />tax increment funds for the bond payments, and; <br /> <br />WHEREAS, the timing of the transfer is set so that monies are <br />available to meet the scheduled bond payments, <br /> <br />NOW, THEREFORE, BE IT RESOLVED, the City Council of the City of New <br />Brighton to hereby adopt the following: <br /> <br />1. Transfers to cover bond costs in the amounts shown on the <br />attached schedules A, B, and C shall be made effective July 1, 1990 and <br />July 1, 1991. <br /> <br />2. Annually these schedules shall be updated and the appropriate <br />transfer made. <br /> <br />3. This annual transfer shall be made with no further Council <br />authorization throughout the term of the outstanding bond issues. <br /> <br />4. This action shall be effective for the year 1990. <br /> <br />Adopted this ?Atn <br /> <br />day of MArrn <br /> <br />, 1991. <br /> <br /> <br />/",,,, /'" <br /> <br />./ '>'r,,4<- <br />Mayor <br /> <br />ATTEST: <br /> <br />~ (1\, C11~. <br /> <br />David M. Childs, City Manager <br /> <br />.~ <br />, <br /> <br />.' . ~,. <br /> <br />~ <br /> <br />Finance Director/City Clerk <br /> <br />.'!-.... <br /> <br />...,., <br /> <br />(SEAL) <br />
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