HomeMy WebLinkAbout2003-127 CCRMember Kay Tasman introduced the following resolution and moved its
1
adoption:
RESOLUTION ESTABLISHING THE STREET CONSTRUCTION FUND
RESOLUTION NO. 2003-127
WHEREAS, the City has undertaken a program to upgrade and/or replace City owned
improvements to include streets, curb and gutter, water, sanitary sewer, and storm sewer
infrastructure; and
WHEREAS, funding of these improvements is provided from a number of sources to
include public utility funds, enterprise funds, the general fund, special revenue funds, and capital
project funds; and
WHEREAS, with the increased complexity of identifying revenue sources specific to
these projects and ensuring proper accounting controls; and
WHEREAS, with the implementation of GASB 34 that requires appropriate
identification of sources of funds to specific projects; and
WHEREAS, the City Council had previously established an Infrastructure
Replacement Fund to account for project costs; and
WHEREAS, a single fund has been recommended by the City's auditor to account
for funds to be used as part of the street reconstruction program.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that the Street Reconstruction Fund is hereby established.
BE IT FURTHER RESOLVED that this fund will provide the City the accounting
entity to which all funds identified by the City Council for the street reconstruction program will be
transferred-in and/or deposited and from time to time transferred-out to provide for expenditures for
street improvements.
August 25, 2003
Date
ATTEST: JW V
City Clerk
May
The motion .for the adoption of the foregoing resolution was duly seconded by member
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.