Agenda - Council - 04/27/1999 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #99~04- RESOLUTION APPROVING THE TRANSFER OF EXCESS GENERAL FUND REVENUES TO THE EQUIPMENT REVOLVING FUND, FACILITIES CONSTRUCTION FUND, IMPROVEMENT REVOLVING FUND AND REMAINDER TO FUND COST OF REFURBISHING OLD TOWN HALL ~VHEREAS, during the year 1998, the Ramsey City Council acted on matters impacting revenue and expenditure budgets of the City's General Fund for items that were not included in the original budget for the year ended December 31, 1998; and WHEREAS, amounts necessary to and WHEREAS, General Fund at year it has been determined that there are excess revenues over and above meet the fund balance requirements for the year ended December 31, 1998; $477,259.09 remained as excess revenues to be transferred from the ended December 31, 1998; and WHEREAS, Resolution 94-02-045 states that excess year~end General Fund revenues will be distributed to the Equipment Revolving Fund (10%), Facilities Construction Fund (40%), and the Public Improvement Revolving Fund (50%); and WHEREAS, the City is currently in the process of restoring the Old Town Hall and an additional $100,000 is needed to complete the refurbishing; and WHEREAS, $37,725.91 would be transferred to the Equipment Revolving Fund, $150,903.64 to_the Facilities Construction Fund, $188,629.54 to the Public Improvement Revolving Fund, and the remaining $t00,000 would offset the costs of remodeling the Old Town Hail. NOW THEREFORE~ BE IT RESOLVED BY THE CITY COUNCIL OF TIlE CITY OF RAMSEY~ ANOKA COUNTY, STATE OF MINNESOTA, as follows: That the Ramsey City Council hereby approves the transfer of excess General Fund Revenues in the amount of $477,259.09 to the Equipment Revolving Fund, the Facilities Construction Fund and the Public Improvement Revolving Fund at the amounts of $37,725.91, $150,903.64 and $188,629.54 respectively and the remainder of $100,000 to refurbish Old Town Halt. The motion for adoption of the foregoing resolution was duly seconded by and upon vote being taken thereon, the following voted in favor thereof: and the following voted against: and the following abstained: and the following were absent: