HomeMy WebLinkAbout1974-192 CCR Member Maurice Britts introduced the following resolution and moved its
adoption:
RESOLUTION NO. 74 -192
RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS BETWEEN THE
GENERAL FUND AND THE POLICE PENSION FUND
WHEREAS, the State of Minnesota levies a one percent tax on the premiums
reported to the Commissioner of Insurance by auto casualty insurers in Minnesota;
and
WHEREAS, 20% of the monies collected are distributed by the State to the
Public Employees Retirement Association Police and Fire Pension Fund to be applied
against their deficit and 80% is distributed to municipalities maintaining police
departments; and
WHEREAS, the City of Brooklyn Center received $22,767.72 from this source
in the calendar year 1973; and
WHEREAS, it was the City's interpretation of the statute establishing the
State police aid, that, since the City had provided for the 1973 City contribution
necessary to meet the current normal cost and to retire the accumulated deficit by
the levy of ad valorem taxes as required by the statute establishing the Brooklyn
Center Policeman's Pension Fund, the 1973 distribution could be used for police
appropriations other than pensions; and
WHEREAS, in accordance with said interpretation, the 1973 police aid was
deposited into the General Fund to be used for police appropriations as approved in
the 1973 General Fund Budget; and
WHEREAS, on September 5, 1974, the City was notified by the State of
Minnesota Department of Commerce, Insurance Division, of its interpretation that
the police aid must be deposited directly to the Police Pension Fund; and
WHEREAS, the interpretation will create a surplus of $22,767.72 over and
above the amount needed for the 1973 funding of the Police Pension Fund and will
create a deficit of the same amount in the General Fund:
BE IT THEREFORE RESOLVED by the City Council of the City of Brooklyn
Center that the City Treasurer be directed to transfer the amount of $22,767.72,
representing the State aid, from the General Fund to the Police Pension Fund in
accordance with the interpretation of the State of Minnesota Department of
Commerce, Insurance Division; and
BE IT FURTHER RESOLVED that the City Council determines that said transfer
will create a surplus thereby enabling the City to reduce its 1973 contribution to
the Police Fund and accordingly directs the City Treasurer to return $22,767.72
of the City's 1973 contribution to the General Fund.
RESOLUTION NO. 74 -192
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November 4. 1974
Date Mayor
ATTEST:°
Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
member Bill Fignar and upon vote being taken thereon, the following
voted in favor thereof: Philip Cohen, Maurice Britts, Tony Kuefler,
Bill Fignar and Robert Jensen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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