HomeMy WebLinkAboutResolution No. 2008-67T1T['tAT TTTTAIfT llTl1 AAAA !•4
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BEING RESOLUTION ESTABLISHING A CONSTRUCTION FUND FOR THE
PUBLIC SAFETY BUILDING
WHEREAS, the City of Columbia Heights has initiated the process of constructing a new public
safety building; and
WHEREAS, to facilitate proper accounting for all revenue and expenses related to this project, it
is necessary to establish a construction fund; and
WHEREAS, temporary funding is needed until bond proceeds are received; and
WHEREAS, the City Council desires to establish a reserve fund to cover potential project
overruns and/or to provide additional improvements to the site;
NOW, THEREFORE, BE IT RESOLVED that fund 417, Public Safety Building Construction,
be established to account for construction revenue and expenses;
BE IT FURTHER RESOLVED that $600,000 be transferred from the Housing Maintenance
fund 407 to provide startup funding until bond proceeds are received.
BE IT FURTHER RESOLVED that when bond proceeds are received the initial startup capital
of $600,000 be transferred to the General Government Building fund and reserved for site
improvements or other project costs until such time as the public safety building is completed.
Passed this 14`h day of Apri12008.
Offered by: Williarr~s
Seconded by: Diehm
Roll Cail: Ayes: Peterson, Williams, Diehm, Kelzenberg Nay: Nawrocki
Attest:
Patricia Muscovitz, CMC ~_
City Clerk