HomeMy WebLinkAbout1996-R-01RESOLUTION NO. 96-R- /
RESOLUTION ELIMINATING SEWAGE RESERVE ACCOUNTS
FOR SERIES C AND SERIES A BONDS
WI-IEREAS, the City of Jeffersonville Board of Public Works and Safety has
previously created reserve accounts for the purpose of servicing indebtedness on revenue
bonds issued for pUrPoses of constructing a new waste water treatment facility; and
WHEREAS, the C~ty of Jeffersonwlle recently refunded the majority of thos bonds
in order to realize a cost savings; and
WHEREAS, the indebtedness on the Series C and the Series A bonds has been
completely satisfied and the reserve accounts for those bonds are no longer necessary.
NOW, THEREFORE, BE IT RESOLVED BY the City of Jeffersonville Board of
Public Works and Safety that the reserve accounts previously established for Series C and
Series.A bolads shall henceforth be?liminated, inasmuch as thgY ~e no_longer nece. s~.ar~y~
ALL OF WHICH WAS RESOLVED ON THE /( ~f~ DAY OF 3ANUARY, c.~ fq,~,a.
1996.
CITY OF JEFFERSONVILLE BOARD OF
PUBLIC WORKS AND SAFETY
ATTEST: C. RICHA/~D
SPE(~CER,
JR.
CLERK-TREASURER