HomeMy WebLinkAbout6.A. Closing of the 2004 D Debt Service Fund, Re. No. 7614 1.111111 Consent Business 6. A.
SHAKOPEF
TO: Mayor and City Council
FROM: Jean McGann, Interim Finance Director
DATE: 09/22/2015
SUBJECT: Closing of the 2004D Debt Service Fund, Res. No. 7614 (C)
Action Sought
Approve Resolution No. 7614 closing the 2004D Debt Service Fund into the 2012A
Refunding Debt Service Fund.
Background
The 2004D bond for the Public Works Building was refunded in 2012 and the final
payment on the 2004D bond was made in 2015. All bond payments for the Public
Works Building are now paid by the 2012A Refunding Bond. At this time there is
$633,199.74 remaining in the 2004D Debt Service Fund. These dollars should be
transferred to the 2012A Refunding Bond to ensure availability of funds for future
debt payments on the 2012A Refunding Bond.
Attachments: Res. No. 7614
RESOLUTION NO. 7614
A RESOLUTION CLOSING THE 2004D DEBT SERVICE FUND
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, COUNTY OF
SCOTT,MINNESOTA,that the following debt service fund is closed due to the final debt
payment being made:
2004D Public Works Building Debt Service
BE IT FURTHER RESOLVED that the remaining funds of$633,199.74 in the 2004D Public
Works Building Debt Service fund are to be transferred to the 2012A Refunding Debt Service
fund.
Adopted in regular session of the City Council of the City of Shakopee, Minnesota held this
22nd day of September 2015.
Mayor of the City of Shakopee
ATTEST:
City Clerk