Laserfiche WebLink
ORDINANCE 93- <br /> <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />AN ORDINANCE ESTABLISHING <br />POLICIES FOR THE LANDFILL <br />RAMSEY, MINNESOTA. <br /> <br />FUNDING AND <br />EXPENDABLE <br /> <br />The City Council of the City of Ramsey hereby ordains: <br /> <br />EXPENDITURE <br />TRUST FUND, <br /> <br />Section 1. ~ <br /> <br />The purpose of the LandFill Expendable Trust Fund is to account for royalty receipts <br />received from landf'fll monthly gross revenues and the disposition of those receipts. <br /> <br />Section 2. Policies <br /> <br />Funding shall consist of the following sources: 1) Ten percent of monthly gross revenues, generated during the life of the <br /> Anoka Regional Sanitary LandFill; and <br /> 2) Transfers from the Municipal State Aid Construction Fund, through 1996, <br /> for re-payment of a loan in 1991 for MSA projects; and <br /> 3) Re-payment of principal and interest on interfund loans; and <br /> 4) Interest earnings on the Landfill Expendable Trust Fund from the <br /> distribution of pooled interest earnings based on average cash balances. <br /> <br />Expenditures shall consist of the following: <br /> 1) Payment of any legal cost related to the tandffll closure and post closure; and <br /> 2) Transfers to the Park Improvement Fund, on an annual basis, in an amount <br /> not to exceed the interest available in the Landfill Expendable Trust Fund <br /> and as detailed in the Capital Improvement Program as de£med by the City <br /> Council; and <br /> 3) Transfers to other non-operating City funds to offset, retire or avoid future <br /> debt. This mount, when combined with the above transfers and payments, <br /> shall not exceed the amount of interest earnings available in the Landfill <br /> Expendable Trust Fund. <br /> <br />Fund balance shall be increased to and maintained at $2,750,000 or a level that will provSde <br />for interest earnings adequate to support expenditures as detailed in the annual Capital <br />Improvement Program combined with transfers to other non-operating City funds. <br /> <br />This fund is eligible for interfund loans. . <br /> <br />Section 3. Effective Date <br /> <br />This ordinance becomes effective upon 30 (thirty) days after its passage and publication <br />subject to City Charter, Chapter 7.9. <br /> <br />// <br /> <br /> <br />