HomeMy WebLinkAboutResolution 90-52RESOLUTION NO. 90-~2
BEING A RESOLUTION TRANSFERRING FUND BALANCES TO DESIGNATED FUNDS
Whereas, the City of Columbia Heights has accumulated a fund balance in
the General Fund and the Liquor Fund for the purpose of funding future
capital equipment within the City, and,
Whereas, these funds would be more appropriately accounted for in a
separate fund designated for the purpose in which they were accumulated,
and,
Whereas, as the City Council has established a Capital Equipment
Replacement Fund dedicated for the future replacement of equipment,
NOW, THEREFORE, BE IT RESOLVED that the Columbia Heights City Council does
hereby authorize the transfer of $1,000,000 from the General Fund and
$1,000,000 from the Liquor Fund to the Capital Equipment Replacement Fund
as fund balance designated for equipment replacement, and,
NOW, THEREFORE, BE IT FURTHER RESOLVED that any designated fund balance in
the Capital Equipment Replacement Fund shall require a four-fifths vote to
expend or transfer funds.
Offered by:
Seconded by:
Roll Call:
Peterson
Ruettimann
Peterson, Ruettimann - aye
Cterkin, Nawrocki, Carlson - nay
MOTION FALLS - REQUIRES FOUR-FIFTHS VOTE TO TRANSFER FUNDS
Edward M. Carlson, Mayor
jo-anne student, council Secretary