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Councilmember introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #04-04-XXX <br /> <br />RESOLUTION APPROVING THE TRANSFER OF EXCESS GENERAL FUND <br />REVENUES TO THE EQUIPMENT REVOLVING FUND, FACILITIES <br />CONSTRUCTION FUND AND THE IMPROVEMENT REVOLVING FUND. <br /> <br /> WHEREAS, during the year 2003, the Ramsey City Council acted on matters impacting <br />revenue and expenditure budgets of the City's General Fund for items that were not included in <br />the original budget for the year ended December 31, 2003; and <br /> <br /> WHEREAS, it has been determined that them are excess revenues over and above <br />amounts necessary to meet the fund balance requirements for the year ended December 31, 2003; <br />and <br /> WHEREAS, $650,956.94 remained as excess revenues to be transferred from the <br />General Fund at year ended December 31, 2003; and <br /> <br /> WHEREAS, Resolution 94-02-045 states that excess year-end General Fund revenues <br />will be distributed to the Equipment Revolving Fund (10%), Facilities Construction Fund (40%), <br />and the Public Improvement Revolving Fund (50%); and <br /> <br /> WHEREAS, $65,096.59 would be transferred to the Equipment Revolving Fund, <br />$260,386.38 to the Facilities Construction Fund, and $325,482.97 to the Public Improvement <br />Revolving Fund. <br /> <br /> WHEREAS, The City is currently considering the construction of a new City Hall and a <br />Park and Ride Facility; and <br /> <br /> WHEREAS, a more appropriate transfer of the excess funds would be as such: <br />$65,096.59 to the Equipment Revolving Fund, $485,869.35 to the Facilities Construction Fund, <br />and $100,000 to the Public Improvement Revolving Fund. <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 />That the Ramsey City Council hereby approves the transfer of excess General Fund <br />Revenues in the amount of $650,965.94 to the Equipment Revolving Fund, the Facilities <br />Construction Fund and the Public Improvement Revolving Fund at the amounts of <br />$65,096.59, $485,869.35 and $100,000 respectively. <br /> <br />The motion for adoption of the foregoing resolution was duly seconded by Councilmember, and <br />upon vote being taken thereon, the following voted in favor thereofi <br /> <br />and the following voted against: <br /> <br /> <br />