HomeMy WebLinkAboutCity Council Resolution 1993-687•
CITY OF PLYMOUTH
RESOLUTION NO. 93- 687
TRANSFERRING FUNDS FROM THE GENERAL FUND TO THE GENERAL
OBLIGATION DEBT SERVICE FUND
WHEREAS, the City has General Obligation Storm Sewer Bonds outstanding, and
WHEREAS, the General Fund has funds available to assist with the pre payment of the
Storm Sewer Bonds, and
WHEREAS, payment of the General Obligation Storm Sewer Bonds would be a valid
expenditure from the General Fund, and
WHEREAS, early payment of the General Obligation Storm Sewer Bonds would save
the City interest expense,
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA, that the Finance Director is hereby
authorized to transfer 5110,000 from the General Fund to the General Obligation Debt
Service Fund to assist with paying off the 1980 Storm Sewer Improvement Bonds.
Adopted by the City Council on October 18, 1993.