Res 73 - 39 Transfer of the Cherry Hills Bituminous Street Surfacing Improvement Fund's Equity & Liabilities to the Cherry Hills Bituminous Street Surfacing Debt Service FundVillage of Mendota Heights
Dakota County, Minnesota
RESOLUTION NO. 73-�9
RESOLUTION TO TRANSFER THE CHERRY HILLS
BITUMINOUS STREET SURFACING IMPROV�MENT
FUND'S EQUITY AND LIABILITITES TO THE
CHERRY HILLS BITUMINOUS STREET SURFACING
DEBT SERVICE FUND
69HEREAS, the Cherry Hills Bituminous Street Surfacing Improvement
was completed prior to December 31, 1971; and
WHEREAS, the only remaining duties to be completed relative to this
improvement are the collection and payment of funds for debt service
purposes; and _
WHEREAS, it is necessary to have a designated separate fund for debt
service applicable to the funds that financed this improvement;
NOW THEREFORE, IT IS HEREBY RESOLVED by the Village Council of the
Village of Mendota Heights, Dakota County, Minnesota, as follows:
That effective January 1, 1972, th� Cherry Hi,11s Bituminous
Street Surfacing Improvement Fund's equity and liabilities
(on a cash basis) of ($11,038.40) shall be transferred to
the newly created Cherry Hills Bituminous Street 5urfacing
Debt Service Fund which shall, after January 1, 1972, receive
a11 collections and make all payments for debt service pur-
poses applicable to the permanent bond issue that financed
the Cherry Hills Bituminous Street Surfacing Improvement.
Adopted by the Village Council of the Village of Mendota Heights
this �` day of �f�y , 1�73.
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VILLAGE COUNCIL
VILLAGE OF MENDOTA HE GHTS
By � �
ATT T: Donald L. Huber
� Mayor
Gil ert M. a augh •
Village Clerk