Laserfiche WebLink
I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br /> I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br />9.1~oI.U'flOS t83- <br /> <br /> NHEREAS, the Council Budget Committee hereby recommends that $35,000 <br />from the Administrative Trust Fund be loaned to the General Fund over a <br />five year period. Further, that the interest rate for each year be computed <br />on the average Interest rate the City received on Its invested money. <br /> <br />~OM THEREFORE, BE IT RESOLVED BY THE CI'TY OOURCI. L, CITY OF RAMSRY, AROKA <br />CO.UI~I~, STATE OF MINNESOTA, aa follows: <br /> <br /> 1) It ~s hereby approved that $35,000 be transferred'to the City's <br />General Fund for the purpose of utilizing professional service as outlined <br />in the City's 1984 Operational Budget. <br /> <br /> 2) It is directed that at the time of the requested fund, that <br />an agreement .will be executed which will state that the General Fund will <br />reimburse the Administrative Trust Fund over a five year period and further, <br />that the interest rate will be based on the average that the City received <br />on its investment for the year it is .paid. <br /> <br /> 3) Further, the transfer of all or part of the above funds will <br />be done by Council resolution. <br /> <br /> 4) It is further directed that the City Accountant be furnished <br />a copy of this resolution. <br /> <br /> <br />