HomeMy WebLinkAbout2006-004 EDAR1
1
Commissioner Kay Lasman introduced the following resolution and
moved its adoption:
EDA RESOLUTION NO. 2006 -04
RESOLUTION TRANSFERRING $300,000 INTO THE EARLE BROWN
HERITAGE CENTER CAPITAL FUND
WHEREAS, a capital fund for the Earle Brown Heritage Center (EBHC) has been
established to provide an ongoing funding mechanism for capital items; and
WHEREAS, the current unencumbered balance within this fund is $2,511; and
WHEREAS, the Council has approved the 2006 Capital Plan for the EBHC has
identified current year capital needs estimated to cost $140,000; and
WHEREAS, a cash analysis for the EBHC operation for the fiscal year ending
December 31, 2005, identifies a cash surplus within a conservative range that would permit the
transfer of $300,000 to the EBHC Capital Fund; and
needs.
WHEREAS, this transfer is required to meet the identified current and future capital
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority in and for the City of Brooklyn Center that it approves the 2006 Capital Improvement
Program authorizing the Executive Director to implement said program and authorizes the transfer
of $300,000 from the EBHC Operating Fund to the EBHC Capital Project Fund effective the date
of adoption.
March
13, 2006 117"14-"-
Date President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Kathleen Carmody
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kathleen Carmody, Kay Lasman, and Diane Niesen;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.