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2) The Ramsey City Council hereby establishes this policy effective with the year ended <br />December 31, 2004. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Cook and upon vote being taken thereon, the following voted in favor: <br />and the following voted against the same: <br />None <br />and the following abstained: <br />None <br />and the following were absent: <br />Councilmember Elvig <br />whereupon said resolution was declared duly passed and adopted by the Ramsey City Council <br />this the 26th day of October, 2004. <br />ATTEST; <br />" i <br />City Clerk <br />a) "Unreserved- designated" fund balance shall first be adjusted to an amount equal <br />to fifty percent (50 %) of the next years adopted operating budget per policy <br />adopted in Resolution #93 -04 -061 by utilizing amounts in the "unreserved - <br />undesignated" portion of fund balance. <br />b) "Unreserved- undesignated" fund balance shall be brought to an amount equal to <br />ten percent (10 %) of the next years adopted operating budget by transferring in <br />monies equal to the deficit from revolving and replacement funds in the following <br />manner: <br />Ten percent (10 %) to Fund #810 — Park Trust Fund <br />Ten percent (10 %) to Fund #234 - Equipment Replacement Fund <br />Forty percent (40 %) to Fund #412 — Public Facility Construction Fund <br />Fifty percent (40 %) to Fund #400 - Public Improvement Revolving Fund <br />Mayor Gamec <br />Councilmember Zimmerman <br />Councilmember Cook <br />Councilmember Kurak <br />Councilmember Pearson <br />Councilmember Strommen <br />Resolution #04 -10 -320 <br />Page 2 of 2 <br />