HomeMy WebLinkAboutOrdinance 1211ORDINANCE NO. 1211
BEING AN ORDINANCE TRANSFERRING FUND BALANCES TO DESIGNATED FUNDS
The City of Columbia Heights does ordain:
Section 1: 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 capitol equipment within the City, and,
Whereas, these funds would be more appropriately accounted for in a
separate fund designated for the purpose for which they were
accumulated, and,
Whereas, the City Council has established a Capitol Equipment
Replacement Fund dedicated for future replacement of equipment.
Section 2: The Columbia Heights City Council does hereby authorize the transfer
of $1,000,000.00 from the General Fund and $1,000,000.00 from the
Liquor Fund to the Capitol Equipment Replacement Fund as fund
balance designated for equipment replacement.
Section 3: Any designated fund balance in the Capitol Equipment Replacement
Fund shall require a four-fifths vote to expend or tranfer funds.
Section 4: This Ordinance shall be in full force and effect from and after
thirty (30) days after its passage.
First Reading:
Second Reading:
Date of Passage:
October 22, 1990
November 13, 1990
November 13, 1990
Offered by: Nawrocki
Seconded by: Clerkin
Roll Call: All ayes
Edward Carl son, Mayor-
o-A6n~-Student, Couf~cll Secretary