HomeMy WebLinkAbout1986-074 CCR I
Member Bill Hawes introduced the following resolution and
moved its adoption:
RESOLUTION NO. 86 -74
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RESOLUTION AMENDING RESOLUTION NO. 85 -114 ESTABLISHING A
MUNICIPAL GOLF COURSE ENTERPRISE FUND AND AUTHORIZING AN
INTERFUND LOAN
WHEREAS, the City Council adopted Resolution No. 85 -114 on June 24,
1985 which established a Municipal Golf Course Enterprise Fund and authorized
an interfund loan from the Capital Projects Fund to the Municipal Golf Course
Fund; and
WHEREAS, since that adoption, a revised golf course plan has been
approved by the City Council.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, that Resolution No. 85 -114 be replaced in its
entirety by the following:
WHEREAS, pursuant to a public hearing held on June 24, 1985, the City
Council of the City of Brooklyn Center has determined that it is in the best
interests of the City to provide for the construction and the operation of a
municipal golf course; and
WHEREAS, the City Manager has presented a- revised financial plan for
the construction and the operation of a municipal golf course dated April 21,
1986.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, that in accordance with that plan:
1. The Director of Finance is directed to establish a
Municipal Golf Course Enterprise Fund.
2. An amount of $600,000 is hereby appropriated to the
Municipal Golf Course Improvement Project No. 1985 -23,
Division 48, of the Capital Projects Fund from the
Capital Projects Fund fund balance.
3. An additional amount of $1,100,000 is" hereby appropriated
to the Municipal Golf Course Improvement Project No. 1985 -23,
Division 48, of the Capital Projects Fund. The additional
amount is to be financed from the Municipal Golf Course
Enterprise Fund.
4. A loan in the amount of $1,1`00,000 at an annual interest rate
of 5% is hereby approved from the Capital Projects Fund to
the Municipal Golf Course Enterprise-,Fund. The loan shall
be dated at that time when the golf course construction is
completed and the Municipal Golf Course Enterprise Fund
f reimburses the Capital Projects Fund for those construction
costs which exceed $600,000.
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RESOLUTION NO. 86 -74
May 5, 1986
Date Mayor-
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
member Celia Scott 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.
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