CCR1988167COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION 111 67-88
RESOLUTION CLOSING ESCROW ACCOUNTS PROVIDED
FOR THE DISPOSITION OF CONTRACTED FUNDS
THAT WERE DESIGNATED FOR TAX
INCREMENTAL FINANCING
WHEREAS, on December 31, 1985, the following escrow accounts were
established at First Wisconsin National Bank of Brookfield.
Resolution Account
Number Numb e r
352-85 111009-219
353-85 11 1006-91 5
354-85 11
355-85 11
356-85 11 1
002-746
006-579
006-587
357-85 111006-595
TOTAL
and
Beginning
Balance
as of
Project 12-31 -85
Ind. Park Sewer h $294,000
Water
Ind. Park Site $ 82.000
Grading Project
Ladwig Drive Sewer $696,000
Project
Tess Corners Vol. $ 21 ,300
Fire Dept.Parking
Lot
Culvert Crossing $ 55,000
Proiects. Kurtze
Including
Balance
Interest
as of
6-30-88
Ij 33,155.99
$ 30,221.95
$ 59,867.94
$ 9,228.01
$ 28,986.99
., Lane, Bass Bay,
Traffic Signals,
NW Plant Aban.
Library Addition $ 21,165.30 $ 1,590.55
$1 ,169,465.30 $163,051.43,
WHEREAS, the projects have been completed and all expenses to be
paid from said accounts have been satisfied, and
WHEREAS, the funds remaining in the escrow accounts include
interest earnings which must be used to offset TIF liability, and
WHEREAS, the Finance Committee has reviewed the closing of the
escrow accounts and has recommended approval.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Finance
Committee, does hereby direct that the escrow accounts be closed
and all funds, including interest, be transferred to the
appropriate TIF special revenue fund
Resolution #I 67-88
July 1988
Edwin P. Dumke
Mitchel /E. PemSvich
ATTEST :
City Clerk
7/88
YP