84-125 - 11-07 - Transfer Asssets and LiabilitiesResolution 84-125
November 7, 1984
Member Thompson introduced the following resolution and moved its adoption:
RESOLUTION CLOSING VARIOUS CITY FUNDS AND DIRECTING
THE TRANSFER OF THEIR ASSETS AND LIABILITIES
WHEREAS, certain funds were created by the City of Golden Valley to account
for the receipt of monies and payment of principal of and interest on bonds
issued by the City, namely:
1966 Park Bond Fund (Fund 42)
1962 Trunk Watermain Fund (Fund 28)
1963 Trunk Watermain Fund (Fund 29)
and such principal and interest will be fully paid in 1984; and
WHEREAS, certain funds were also established to maintain cost records of
various construction projects conducted by the City, namely:
1977 Construction Fund (Fund 77)
1978 Construction Fund (Fund 78)
1979 Construction Fund (Fund 79)
1980 Construction Fund (Fund 80)
1981 Construction Fund (Fund 81)
and the projects included therein are to be completed in 1984;
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Golden
Valley that the assets and liabilities remaining in each of the funds enumerated
be transferred effective December 31, 1984 as follows:
1.966 Park Bond Fund to the Park Capital Reserve Fund (Fund 37)
1962 and 1963 Trunk Watermain Fund to the Utility Reserve Fund (Fund 27)
1977 through 1981 Construction Funds to the Debt Redemption Sinking Fund (Fund 50)
Mary E, Anderson, Mayor
ATTEST:
Udy Na ly, Depu City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
Stockman and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Bakken, Johnson, Stockman and Thompson, and the following
voted against the same: none, whereupon said resolution was declared duly
passed and adopted, signed by the Mayor and her signature attested by the Deputy
City Clerk.