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RESOLUTION NO. 55 SERIES 2004 A RESOLUTION LIFTING PREVIOUS RESTRICTIONS DESIGNATING PART OF THE FUND BALANCE OF THE CAPITAL PROJECTS FUND FOR FUTURE DEBT REDUCTION WHEREAS, from 1997 to 2001, the City of Louisville, Colorado designated $100,000 per year for five years from the Capital Projects Fund balance for the purpose of providing future funding for early debt reduction; and WHEREAS, such designations were made in the following resolutions: . Resolution No. 18 Series 1997 . Resolution No. 13 Series 1998 . Resolution No. 12 Series 1999 . Resolution No. 14 Series 2000 . Resolution No. 11 Series 2001; WHEREAS, the City of Louisville, Colorado refunded existing debt during 2002 and 2003 and none ofthe refunding bonds set forth a plan for redemption prior to maturity other than as listed in the payment schedule recorded in the official bond statements; and WHEREAS, the City Council by this resolution desires to lift the above-noted restrictions designating Capital Projects Fund balance for early debt reduction, and direct that all $500,000, plus accrued interest, be placed in unrestricted cash and unrestricted fund balance of the Capital Projects Fund. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: 1. The City Council hereby lifts and repeals the restrictions in the above-referenced resolutions which previously restricted $500,000 of the Capital Project Fund balance for future funding for early debt reduction. The previously designated $500,000 of fund balances in the Capital Projects Fund plus accrued interest, for a total amount of $510,817, is hereby transferred from the restricted fund balance and restricted cash to unrestricted fund balance and unrestricted cash of the Capital Projects Fund. PASSED AND ADOPTED this ih day of December, 2004. 1