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Councilmember Ya? Wagner introduced the following resolution and moved for <br />its adoption: <br /> <br /> · I~OI~TIO~ ~83-198 <br /> <br /> ~tRP~%S, the Council Budget Committee hereby recommends that $35,000 <br />from the Administrative Trust Fund be loaned to the General Fund over <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 />~OW 9~tEREFORE, BE I"F RESOLVED BY ~ CItY ~OURCIL, CIT~ OF RAIq~NY, A~OKA <br />COUNTY, STATE OF MINNRSOTA, as follows: <br /> <br /> l) It is 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 period and further, <br /> year <br /> at 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 /> The motion for the adoption of the foregoing resolution was duly seconded <br /> by Mayor Gamec and upon vote being taken thereon, the following voted in <br /> favor thereof: <br /> <br /> Mayor Gamec, Councilmembers Sorteberg, Van Wagner, Schlueter and Reimann <br /> and the following voted against the same: <br /> <br /> None ' <br /> <br /> whereupon said resolution was declared duly passed and adopted by the Ramsey <br /> City Council this the 25th day of October, 1983. <br /> <br /> above resolution: <br /> <br /> mratuz/ 21erk ~'--Cit countant <br /> <br /> <br />