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Councilmember Pearson introduced the following resolution and moved tot its adoption: <br /> <br />RESOLUTION #89-11-305 <br /> <br />RESOLUTION ESTABLISHING POLICY REGARDING THE USE OF THE LANDFILL <br />TRUST FUND <br /> <br /> WHEREAS, on December 12, 1984 the City of Ramsey sold certain real estate <br />to Waste Management of Minnesota, Inc. known as the Anoka Regional Sanitary Landfill; and <br /> <br /> WHEREAS, the City of Ramsey has placed and will place any and all of the <br />proceeds from the sale of the Anoka Regional Sanitary Landfill into the Landfill Trust Fund; and <br /> <br /> WHEREAS, there are no existing contractual or legal obligations which would <br />restrict 1he City of Ramsey's use of said proceeds; and <br /> <br /> WHEREAS, it is the desire of the City Council of Ramsey, Minnesota to preserve <br />intact the principal of the remaining proceeds from the sale of the Anoka Regional Sanitary <br />Landfill. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> 1 ) That the Finance Officer of the City of Ramsey is instructed to report <br />separately the principal amount and the interest amount for the Landfill Trust Fund from <br />December 12, 1984. <br /> <br /> 2) That expenditures from the principal amount of the Landfill Trust Fund <br />only be authorized with a four-fifths vote of the City Council. <br /> <br /> 3) That no expenditure of the Landfill Trust Fund for operating purposes <br />should be authorized unless the City Council first declares an emergency situation to exist <br />(operating purposes in this case means non-capital costs). <br /> <br /> 4 ) That up to 40% of the principal of the Landfill Trust Fund may be used as <br />a source of funds for interest free interfund loans. <br /> <br /> 5) That any loan or transfer of principal from the Landfill Trust Fund shall <br />be approved by a four-fifths vote of the City Council. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Cich and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Councilmember Pearson <br />Councilmember Cich <br />Councilmember DeLuca <br />Councilmember Peterson <br /> <br /> <br />