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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 />I <br />I <br />I <br />I <br />I <br />I <br /> <br />ORDINANCE 93- <br /> <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />AN ORDINANCE ESTABLISHING FUNDING AND EXPENDITURE <br />POLICIES FOR THE MUNICIPAL STATE AID CONSTRUCTION FUND, <br />RAMSEY, MINNESOTA. <br /> <br />The City Council of the City of Ratnsey hereby ordains: <br /> <br />Section 1. ~ <br /> <br />The purpose of the Municipal State Aid Construction Fund (MSA Fund) is to account for <br />state-aid allotments used by the City for improvement projects to thoroughfare streets <br />designated as municipal state aid streets within the City. <br /> <br />Section 2. Policies <br /> <br />Funding shall consist of the following sources: <br /> 1) Annual Municipal State-Aid allotments; and <br /> 2) Interest earnings on the MSA Fund from the distribution of pooled interest <br /> earnings based on average cash balances. ' <br /> <br />Expenditures shall consist of the following: <br /> 1) Transfers to the Landfill Expendable Trust Fund, ending in 1996, to repay <br /> State-Aid bonds issued in 1991; and <br /> 2) Transfers to the General Fund annually to cover budgeted general <br /> maintenance to state-aid designated streets. This amount will be determined <br /> annually during the budget process; and <br /> 3) Costs associated with municipal state-aid improvement projects as detailed <br /> in the annual Capital Improvement Program or as approved by Council. <br /> <br />This fund is not eligible to make loans to other City Funds. <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 />