HomeMy WebLinkAbout1988-180 CCR1
1
Member Celia Scottintroduced the following resolution and moved
its adoption:
RESOLUTION TO TRANSFER FUNDS FROM THE LCMR AND LAWCON FUND
TO THE CAPITAL PROJECTS FUND
WHEREAS, Section 7.11 of the City Charter does provide the City
Council with full authority to make transfers between all funds which may
be created, provided that such transfers are not inconsistant with the
provisions of related covenants, the provisions of the City Charter, or
State Statutes; and
WHEREAS, the LCMR and LAWCON Fund has been used to receive grant
revenues and then transfer the money to the Capital Projects Fund as
qualified projects were completed; and
WHEREAS, grant revenues sometimes remained in the LCMR and LAWCON
Fund for a period of time resulting in interest income for the fund; and
WHEREAS, the fund had accumulated by this method a fund balance
of $97,899 as of December 31, 1987.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center to transfer the amount of $97,899 from the LCMR and LAWCON
Fund to the Capital Projects Fund; and
BE IT FURTHER RESOLVED to transfer the 1988 interest earnings of
the LCMR and LAWCON Fund to the Capital Projects Fund when they have been
determined at year end; and
BE IT FURTHER RESOLVED to close the LCMR and LAWCON Fund.
November 7, 1988
Date
ATTEST:
P1_2
Clerk
RESOLUTION NO. 88 -180
Mayor
The motion for the adoption of the foregoing resolution was duly seconded
by member Bill Hawes and upon vote being taken thereon, the
following voted in favor thereof: Dean Nyquist, Gene Lhotka,
Celia Scott, Bill Hawes, and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.