d. Chrisan special funds-transfer to Stanley Twp

CASS COUNTY GOVERNMENT mins June 24, 2014 RECEIVED Board of County Commissioners 'JUN 2 4 2014 Cass County Government Auditor 2119th Street South CASS COUNTY COMMISSION Fargo ND 58103 Michael Montplaisir,CPA 701-241-5601 Re: Chrisan Subdivision Specials Fund Treasurer Dear Commissioners: Charlotte Sandvik We have received a request from Stanley Township to release the funds held 701-241-5611 for the Chrisan and Chrisan 2nd Subdivision Street Improvement District No. 1984-2 to Stanley Township. In 1984 a fund was established to pave the Director of streets in these two subdivisions (map enclosed) and the indicated properties Equalization were assessed the project costs. Following completion of the project and payment of the debt in 1997, the remaining balance was set aside in a special Frank Klein fund for repairs and improvements to the streets. 701-241-5616 Originally $90,630.95 was transferred into this fund from the construction and the sinking fund for this project. Over the years, $59,136.62 has been earned in interest and $36,844.50 has been paid out for crack sealing and seal coating, leaving a current balance of $112,923.07. Interest rates were a lot more favorable in the 1990's and early 2000's, which allowed the fund to to be built up and more than cover the maintenance done since 1997. Most of the properties in these two subdivisions either have been or will most likely be acquired by Cass County through the flood buyouts currently underway; therefore, future pavement maintenance is unlikely and if needed, would be the responsibility of Stanley Township. Sincerely, Z.- 2 _ .,,,,z..: Mfr"--.104.-e.,- Michael Montplaisir, CPA Cass County Auditor SUGGESTED MOTION: Move to transfer the balance of the Chrisan Subdivision Specials Fund to Box 2806 Stanley Township. 211 Ninth Street South Fargo,North Dakota 58103 Fax 701-241-5728 www.casscountynd.gov