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<br />RESOLUfION NO. 36 <br />SERIES 1996 <br /> <br />A RESOLUfION RESERVING CERTAIN CASH INVESTMENTS IN THE WATER UfILITY <br />FUND FOR THE PURPOSE OF REDEEMING THE 1989 WATER BONDS. <br /> <br />WHEREAS, the City of Louisville desires to reduce debt; and <br /> <br />WHEREAS, the 1989 Water Bonds have an outstanding principal balance at June 1, 1996 of $5,335,000 and <br />a call date of June 1, 1998; and <br /> <br />WHEREAS, the City of Louisville has unrestricted investments in the Water utility Fund in excess of <br />$6,800,000; and <br /> <br />WHEREAS, the City Council desires that $4,000,000 be reserved and placed in a specific investment portfolio <br />for the p~e of redeeming a significant portion of the 1989 Water Bonds at the June 1, 1998 call <br />date; and <br /> <br />WHEREAS, the reserved amount will be used to pay the principal and interest payments through the June 1, <br />1998 call date. <br /> <br />NOW TIlEREFORE BE IT RESOLVED by the City COWlcil of the City of Louisville, Colorado that the City <br />will reserve $4,000,000 of unrestricted funds, for the specific purpose of redeering a significant portion of the 1989 <br />Water Bonds at the June 1, 1998 call date. <br /> <br />ADOPTED this 4th day of June <br /> <br />'~0~. <br /> <br />Tom Davidson, Mayor <br /> <br />AITEST: <br /> <br />~~-~ <br /> <br /> <br />APPROVED.AS TO FORM: <br /> <br />~K~ <br />G" and Tanoue . <br />City Attorney <br />