HomeMy WebLinkAbout2000-016 CCRMember Debra Hi.lsttoma introduced the following resolution and moved
its adoption:
RESOLUTION NO. no-1 h
RESOLUTION CREATING A TIF DISTRICT #4 FUND AND DIVIDING
THE E.D.A. FUND INTO AN F.D.A. #1 FUND AND AN E.D.A,-#2 FUND
WHEREAS, Section 7.11 of the City Charter provides the City Council with the
authority to order the creation of such funds as may be needed to properly account for the
financial activities of the City; and
WHEREAS, Resolution #99-34 approved the establishment of Tax Increment
Financing District #4 .and thereby created the need for a special revenue fund to account
for the district; and
WHEREAS, the E.D.A. Fund was created in the 1980s and included tax
increment financing revenues from that time onward; and
WHEREAS, State of Minnesota guidelines call for TIF revenues to be
segregated in separate funds from funds containing non-TIF revenues.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, as follows:
1. That the classification of funds shall be expanded to include a Tax Increment
Financing District #4 special revenue fund to account for the receipt and
disbursement of tax increments.
2. That the existing E. D . A. Fund be renamed as the E. D . A. #1 Fund and that the
classification of funds shall be expanded to include the E.D.A. #2 Fund.
TanUarv 24. 20000.
Date 0 Mayor
RESOLUTION NO. 00-16
ATTEST: " 4W
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Robert Ppppe , and upon vote being taken thereon, the following
voted in favor thereof:
Myrna Kragness, Debra Hilstrom, Kay Tasman, Ed Nelson, and Robert Peppe;
and the following voted against the same:
none;
whereupon said resolution was declared duly passed and adopted.
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