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Councilmember ~5eai <br /> <br />RESOLUTION <br />TRUST FUND <br /> <br /> son introduced the following resolution and moved for its adoptio.n: <br /> <br /> RESOLUTION #89-11-305 <br /> <br />;;ESTABLISHING POLICY REGARDING THE USE OF THE LANDFILL <br /> <br /> WHEREAS, on December 12, 1984 the City of Ramsey sold certain real estate <br />~.o Waste Management of Minnesota, Inc. known as the Anoka Regional Sanitary Landfill; and <br /> <br /> ¥ rHEREAS, the City of Ramsey has placed and will place any and all of the <br />proceeds from , e s~le of the Anoka Regional Sanitary Landfill into the Landfill Trust Fund; and <br /> ~IHI~REAS, there are no existing contractual or legal obligations which would <br />restrict the City r~f Rr~mSey's use of said proceeds; and <br /> WHE~REAS, it is the desire of the City Council of Ramsey, Minnesota to preserve <br />intact the princlpal !of the remaining proceeds from the sale of the Anoka Regional Sanitary <br />Landfill. r r <br />NOW THERE~OR~E, BE IT RESOLVED BY THE CITY COUNCIL OF THE CiTY OF <br />RAMSEY, ANO~KA iCOUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> !) i That the Finance Officer of the City of Ramsey is instructed to report <br />separately the~priqcipal amount and the interest amount for the Landfill Trust Fund from <br />December 12, 11984. <br /> <br /> ) ~ That expenditures from the principal amount of the Landfill Trust Fund <br />only be auth°rl~:ed ,~ith a four-fifths vote of the City Council. <br /> <br /> ~ ) That no expenditure of the Landfill Trust Fund for operating purposes <br />should be aut~orizbd unless the City Council first declares an emergency situation to exist <br />(operating purl~se~, in this case means non-capital costs). <br /> ~, ) i That up to 40% of the principal of the Landfill Trust Fund may be used as <br />a source of fur~ds fbr interest free interfund loans. <br /> ~')' That any loan or transfer of principal from the Landfill Trust Fund shall <br />be approved b~ a .fOur-fifths vote of the City Council. <br /> <br />The motion foCr the!adoption of the foregoing resolution was duly seconded by Councilmember <br />Cich and upon ~votel being taken thereon, the following voted in favor thereof: <br /> <br /> Councilme~ber Pearson <br /> Councilmember Cich <br /> Councilh~er~ber DeLuca <br /> Councilme~ber Peterson <br /> <br /> <br />