Agenda - Council - 05/10/2016 - Laserfiche WebLink

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5. Right -of -Way Acquisition Loan Fund (RALF) (Fund 9410). (a) This fund shall be used to account for resources and expenditures related to the purchase of property for future state road development. (b) Funding shall consist of the following sources: (1) Met Council Grant Funds as outlined in Loan Agreements (2) Rental Revenue as outlined in Lease Agreements (c) Expenditures shall consist of the following uses: (1) Right -of Way Acquisitions as outlined in the Met Council Loan Agreements (2) Improvements of Leased Properties (d) This fund is not eligible for inter -fund loans. 6. Public Improvement Revolving Fund — The COR (Fund 9468) (a) The Public Improvement Revolving Fund -The COR will be used to account for all costs associated with the development/construction of the COR Project area. (b) Funding shall consist of the following sources: (1) Land sales within the COR area (2) Interest earnings on the COR Fund from the distribution of pooled interest earnings. (c) Expenditures shall consist of the following uses: (1) Expenditures to market the COR area (2) Development/Construction Improvements as authorized by City Council (d) This fund is eligible for inter -fund loans 7. Park Improvement Fund (Fund 9805) (a) The Park Improvement Fund shall be used to account for all cash and park dedication fees and miscellaneous revenues to be used for future land acquisition and park improvements. (b) Funding shall consist of the following sources: (1) Park Dedication fees as outlined in respective development agreements (2) Donations (3) Interest earnings on the Park Improvement Fund from the distribution of pooled interest earnings. (4) Transfers from the General Fund at year-end for excess General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#16-05-089). Page 7 of 11