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CASE <br /> <br />PROCEEDS FROM THE SALE OF THE LANDFILL <br /> By: Sandra Ashley, Finance Officer <br /> <br />Background: <br /> <br />At the Council workshop meeting held on January 12, 1991, there was a discussion as to <br />existing restrictions for the use of proceeds from the sale of the landfill. We have reviewed <br />all resolutions from 1983 forward, and are in the process of reviewing the City Council <br />minutes for the same time period. To this point, the only restriction the records show is <br />Resolution #89-11-305 adopted November 14, 1989. <br /> <br />A copy of this resolution is attached; however, it does state: "...there are no existing <br />contractual or legal obligations which would restrict the City of Ramsey's use of said <br />proceeds." As this resolution is establishing policy for the Landfill Trust Fund, proceeds <br />would include the original sale proceeds and all royalties received to date. <br /> <br />Attached is a memo from the City Attorney which gives the history of the landfill and its <br />revenue sources. <br /> <br />The City Council receives a monthly report which details the current year's revenues, <br />expenditures and designated versus undesignated fund balance. The last report was <br />prepared 12/26/90 and a copy was included with the January 8, 1991 consent agenda. For <br />ready reference, a copy of this report is attached hereto. <br /> <br />If we find additional information in the pre-1989 minutes, we will forward it as soon as <br />possible. <br /> <br />Council Action: <br /> <br />Based upon discussion. <br /> <br />Review Checklist: <br /> <br />Finance Officer <br />City Attorney <br /> <br />CC: 1/22/91 <br /> <br /> <br />