HomeMy WebLinkAbout20110103 - VI-06
City Council Memorandum
To: Mayor Hicks & City Councilmembers
From: Charlene Stark, Finance Director
Date: 12/27/2010
Item: Close Debt Fund
Council Action Requested:
Approve the closing and transfer of paid off debt fund from 1998.
Background Information:
The 1998 GO Improvement Bonds have been paid off in 2010. Historically any remaining cash
in the fund is transferred to a revolving debt service fund. This fund is used to call other debt
issuance early when there are enough funds accumulated. The 1998 GO Improvement Bond fund
has a balance of $22,209.90.
Financial Impact:
NA
Advisory Commission Discussion:
NA
Council Committee Discussion:
NA
Attachments:
NA