07-49RESOLUTION NO. 2007-49
CITY OF OTSEGO
COUNTY OF WRIGHT, MINNESOTA
A RESOLUTION APPROVING THE PERMANENT INTERFUND ACCOUNTING
TRANSFER
WHEREAS, the City has completed the Quaday Avenue improvement project, and
WHEREAS, the capital project fund used to account for this project has a remaining
unexpended balance of $204,174, and
WHEREAS, the authorizing bond resolution requires the unexpended balance of the bond
proceeds to be transferred to the related debt service fund, and
WHEREAS, the accounting transfers require the approval of the City Council by a
resolution to properly document this financing and approval,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF OTSEGO,
MINNESOTA THAT THE FOLLOWING ACCOUNTING TRANSFER BE
APPROVED:
$204,174 is hereby transferred from the Quaday Capital Improvements Fund to the
related Quaday Debt Service Fund to transfer the remaining assets of the
project for debt service payments.
Approved by the City of Otsego Council this 13"' day of August, 2007.
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