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Councilmember <br />adoption: <br /> <br />introduced the following resolution and moved for its <br /> <br />~SO~OTION %85-3 <br /> <br /> W~EREAS, the City of Ramsey will be providing City water to certain <br />new developments in the City's urban areas which will reguire the installation <br />of a water meter in residential dwellings/oommercial establishments; and <br /> <br /> W~, the City of Ramsey received price quotes on water meters at <br />the January 8, 1985 Council meeting which are to be purchased through the City <br />Water Utility Fund; <br /> <br /> WHEREAS, City Ordinance %84-13 established a Water Utility Fund as re- <br />quired by Section 7.09 of the City Charter; and <br /> <br /> WT~EREAS, it is requested that an interfund loan in the amount of <br />$6,000.00 be made from the General Fund to the Water Utility Fund which has a <br />zero cash/fund balance. ~he purpose of the interfund loan is to allow the Water <br />Utility Fund to make the purchase of the water meters; and <br /> <br /> W~EREAS, it is requested that the City Council approve of entering <br />into a loan agreement between the City's General Fund and Water Utility Fund as <br />shown in enclosure (1) to this resolution. <br /> <br />N~ ~EREFORE, BE IT RESC~V]~) BY ~E CITY COONCIL OF ~E CITY OF RAMSEY, ANOKA <br />COUNTY, S~I~TE OF MINNESOta, as follows: <br /> <br /> 1) It is hereby approved that the City of Ramsey enter into an inter- <br /> between its General Fund and its Water Fund in the <br /> fund <br /> loan <br /> Utility <br /> amount <br /> of <br />~O~ojff00.~. Further, the Council hereby authorizes the Mayor and City Admini- <br /> strator/Clerk to sign the agreement contained in enclosure (1). <br /> <br /> 2) ~he City Council also authorizes the transfer of the <br />from the General Fund to the Water Utility Fund. <br /> <br /> 3) It is hereby directed that the City Acoountant be furnished a copy <br />of this resolution with enclosure (1) in order to take appropriate action in- <br />volving the transfer of funds and the repayment of said interfund loan. <br /> <br />~he motion for the adoption of the foregoing resolution was duly seconded by <br />Councilmember and upon vote being taken thereon, the following voted <br />in favor thereof: <br /> <br />and the following voted against the same: <br /> <br /> <br />