HomeMy WebLinkAbout1998-192 CCRMember Kay Tasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 98-192
RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE
SPECIAL ASSESSMENT CONSTRUCTION FUND TO THE GO
IMPROVEMENT C OF 1994 DEBT SERVICE FUND
WHEREAS, Section 7.11 of the City Charter provides the City Council with the
authority to make permanent transfers between all funds which may be created, provided that such
transfers are not inconsistent with the provisions of relevant covenants, the provisions of this
charter, or State statute; and
WHEREAS, in 1994, the City undertook the first year of the neighborhood street
improvement project and financed it by selling the General Obligation Improvement Bonds of
1994; and
WHEREAS, financing for the project todk the forms of property taxes, special
assessments, and stabilization grants provided by the Municipal State Aid for Streets Fund; and
WHEREAS, stabilization grants in the amount of $69,270 were mistakenly transferred
to the Special Assessment Construction Fund instead of the General Obligation Improvements of
1994 Debt Service Fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota, that the Special Assessment Construction Fund shall transfer $69,270 to the
General Obligation Improvements of 1994 Debt Service Fund.
October 26, 1998
Date
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ATTEST: ~wl~~/~'uzU
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Debra Hilstrom , and upon vote being taken thereon, the following voted in favor
thereof:
Myrna Kragness, Kathleen Carmody, Debra Hilstrom, Kay Tasman, and Robert Peppe;
and the following voted against the same:
none,
whereupon said resolution was declared duly passed and adopted.