HomeMy WebLinkAbout1996-010 EDAR1
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its adoption:
Member Kathleen Carmody introduced the following resolution and moved
EDA RESOLUTION NO. 96 -10
RESOLUTION AMENDING THE 1995 EDA FUND BUDGET FOR THE
PURCHASE OF THE ATKINS PROPERTY
WHEREAS, Section 7.08 of the City Charter provides the City Council with the
authority to increase a budget appropriation if the actual receipts exceed the estimates, but not to
exceed the actual receipts; and
WHEREAS, the EDA purchased the property at 6550 West River Road (Atkins
Property) in August 1995 at a cost of $554,295; and
WHEREAS, the EDA passed Resolution 95 -22 declaring its intent to reimburse
itself for the purchase of this property from the proceeds of a bond issue; and
WHEREAS, Tax increment bonds of $4,560,000 were sold on November 1, 1995.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that the 1995 EDA Fund Budget be amended as follows:
1. Increase Estimated Revenues for sale of bonds by $554,300.00
2. Increase Appropriations for sale of bonds by $554,300.00
February 12, 1996
Date
President
The motion for the adoption of the foregoing resolution was duly seconded by member
Debra Hilstrom and upon vote being taken thereon, the following voted in favor
thereof: Myrna Kragness, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.