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Shakopee City Council
May 1, 2018
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| | | | | | | | | FROM: | Darin Nelson, Finance Director | | TO: | Mayor and Council Members |
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| | | | | | | | Subject:
Closing of the 2007B Debt Service Fund
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| | | | | | | | Policy/Action Requested:
Approve Resolution No. R2018-056 closing the 2007B Improvement Bonds (3040) Debt Service Fund into the 2016A Tax Abatement Debt Service fund. | | |
| | | | | | | | Recommendation:
Close the 2007B Improvement Bonds (3040) Debt Service Fund into the 2016A Tax Abatement Bonds Debt Service fund. | | |
| | | | | | | | Discussion:
On February 1, 2018, the final bond payment on the 2007B Bond was made. The remaining dollars in the 2007B Improvement Bonds (3040) Debt Service Fund of approximately $7,500 should be transferred to the 2016A Tax Abatements Bonds Debt Service fund for future debt payments. | | |
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