HomeMy WebLinkAbout1982-160 CCRMember Gene Lhotka introduced the following resolution and
moved its adoption:
RESOLUTION NO. 82 -160
RESOLUTION TO TRANSFER FUNDS FROM THE GENERAL FUND TO THE CAPITAL
PROJECTS FUND
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WHEREAS, Section 7.11 of the City Charter does provide the City Council
with full authority to make permanent transfers between all Funds which may be
created, provided that such transfers are not inconsistent with the provisions
of related covenants, the provisions of the City Charter, or State Statutes; and
WHEREAS, the City has established a Capital Projects Fund to provide
funds, and to account for the expenditures of such funds, for major capital out-
lays (which shall include but not be limited to, construction or acquisition
of major permanent facilities having a relatively long life); and /or to reduce
debt incurred for capital outlays; and
WHEREAS, the City Council established an Adequate General Fund Balance
Policy on December 22, 1980 (M C No. 80 -31); and
WHEREAS, the application of that policy to the current General Fund
Balance determines that there is at least the sum of $600,000 which is in excess
of the adequate Fund balance:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center to transfer the sum of $600,000 from the General Fund fund balance to the
Capital Projects Projects Fund to be therein appropriated by the City Council for
specific projects to be approved by the Council.
ATTEST:
Mayor Q
7
The motion for the adoption of the foregoing resolution was duly seconded by
member Rich Theis 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.
August 23, 1982