HomeMy WebLinkAboutResolution 2003-21 - Authorizing Paying off Outstanding Debt Document No. 7.b.
March 27, 2003 Agenda
Prepared By:Sue Bergin,Administrator
City of Corcoran
('ounty of Hennepin
State ofMinnesota
RESOLUTION NO. 2003 - 21
MOTION BY MEMBER: BUCHER
SECONDED BY MI MBER: THOMAS
WHEREAS, it has been determined that the Bonded Debt for the 1996 Road Improvement Project for
the City of Corcoran has a cash balance which exceeds the remaining debt; and
WHEREAS, the City Auditor has recommended that based on that finding that this 1996 Road
Improvement Debt be retired.
SO, THEREFORE BE IT RESOLVED, that the Council of the City of Corcoran does hereby authorize
city staff to pay off the outstanding debt in the amount of$50,000 plus accrued interest, for the 1996
Road Improvement Project and does hereby designate the allocation of any remaining funds to the
Asphalt Maintenance Fund.
VOTING AYE VOTING NAY
Bucher, John Bucher, John
X Gageby, David Gageby, David
Guenthner, Ken tabsent) Guenthner, Ken
X Lymangood, Chuck Lymangood, Chuck_
X Thomas, Ron Thomas, Ron
Whereupon, said Resolution is hereby declared passed.
Dated this 27th day of M. • , .
David Gageby, Acti g a�i r
ATTEST:
Kary Till nn, City Clerk/Treasurer City Seal
11PdsecllPUBLICI CityHatllOfbce97120001WordlCouncil Agenda 20031March 27.200317.b.Res.No.2003-21 Debt Retirement.doc