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HomeMy WebLinkAbout2015-06RESOLUTION NO. 2015-06 WHEREAS, on November 4, 2014, the registered voters of the City of Columbia Heights approved, by referendum vote, a ballot measure to issue up to $7,000,000 in general obligation bonds for the construction and financing of a new public library; and WHEREAS, the estimated construction and other costs of the proposed library project, as considered throughout 2014 by the City Council of the City of Columbia Heights, with significant input from the public and architectural consultants, is greater than $7,000,000; and WHEREAS, the City of Columbia Heights has adequate fund balances, available to finance the estimated costs that exceed the aforementioned $7,000,000 in general obligation bonds; NOW, THEREFORE, BE IT RESOLVED that the 2015 City of Columbia Heights' budget is amended to appropriate the interfund transfers listed on the attached Exhibit A, to the Library Capital Building Fund. (The remainder of this page is intentionally blank) Detail of Interfund Transfers to the Library Capital Building Fund (No. 450) Special Projects Fund (No. 226) $500,000 Cable Television Fund (No. 225) $300,000 Capital Improvement Development Fund (No. 420) $375,000 Insurance Internal Service Fund (No. 884) $25,000 General Fund (No. 10 1) $175,000 Passed this 26th day of January, 2015 Offered by: Williams Seconded by: Schmitt Roll Call: All Ayes r _ Katie Bruno, City Clerk Total $1,375,000