HomeMy WebLinkAboutResolution 2670 .. Cit� of ORONO
?
� t yt
� '��';� RESOLUTION OF THE CITY COUNCIL
� r.
� NO. 2670
� - • • � .
A RESOLIITION TO TRANSFER MONIES FROM THE GENERAL FIIND
TO THE BIIILDING OIITLAY FIIND
WHER$AS, the City has previously established the
Building Capital Outlay Fund for the collection of monies through
transfers from the General Fund to eliminate or greatly reduce
the need for future sale of bonds for facilities construction,
and;
WHEREAS , the City is currently in the process of
determining new building facilities for the Police, Public Works
and Administrative offices, or a combination thereof, and; ;
WHERSAS, the City has certain monies available in the .
General Fund which can be used for such purposes, and wishes to
indicate this intention to the State Legislature.
• NOW, THERSFORE BE IT RESOLVED, by the C i ty Counc i 1 o f
the City of Orono, Hennepin County, Minnesota that $1,905,000 be
transferred from the General Fund to the Building Capital Outlay
Fund and that the respective budgets of each fund are hereby
amended to reflect the transfer in or out and the increase in or �
use of fund balance. -
B$ IT FIIRTHER RESOLV$D, that the interest earned from ;
this transfer is to be credited to the General Fund to the extent .
requried to meet the amount budgeted for interest revenue.
Adopted by the City Council of the City of Orono,
Minnesota at a regular meeting held July 24, 1989.
ATT ST: � Edwar Callaha ting Mayo .
� � �s
�
Dorpthy . allin, City Clerk �
�
._.�.,.-,�.....__..___---,..__.___.._,,,,.�.,..._ .