HomeMy WebLinkAbout1972-160 CCR1
Member John Leary introduced the following resolution
moved its adoption:
RESOLUTION NO
RESOLUTION TO TRANSFER FUNDS FROM THE GENERAL FUND TO THE
TRANSIT FUND AND TO AUTHORIZE THE CLOSING OF THE TRANSIT FUND
WHEREAS, on May 24, 1971, the City Council authorized the
establishment of an internal bus circulator as an experimental
program; and
WHEREAS, on June 28, 1971, the Council created a Transit Fund
to account for funds provided for the operation of said internal
bus circulator; and
WHEREAS, since the inception of the circulator system, the
operational losses of the system have been jointly subsidized by
the City of Brooklyn Center and the Metropolitan Transit Commission;
and
WHEREAS, the Transit Commission and the City have transferred
funds to the Transit Fund from time to time as losses have been
incurred; and
WHEREAS, on July 10, 1972, the City Council directed that the
circulator system operations cease on July 20, 1972; and
WHEREAS, the Metropolitan Transit Commission has paid in full
their share of the operating loss of the system; and
WHEREAS, there remains an operational loss of $2,910.71 to be
subsidized by the City of Brooklyn Center; and
WHEREAS, the remaining subsidization is within the limits
authorized by the City Council; and
WHEREAS, all activities of the Transit Fund have ceased and
all transactions have been completed:
NOW, THEREFORE BE IT RESOLVED by the City Council of the City
of Brooklyn Center that the amount of $2,910.71 be transferred from
the General Fund's Mayor and Council's Contingency Appropriation to
the Transit Fund to provide the balance of the City's subsidy of the
circulator system; and
BE IT FURTHER RESOLVED that the Director of Finance be directed
to close the books and records of the Transit Fund.
1
Resolution No. 72 160
ATTEST:
September 11, 1972
Date
The motion for the adoption of the foregoing resolution was duly
seconded by member Maurice Britts, and upon vote being taken
thereon, the following voted in favor thereof: John Leary,
Vernon Ausen, Howard Heck and Maurice Britts;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.