Resolution - #04-08-207 - 08/10/2004

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Counci hnember Kurak introduced the following resolution and moved for its adoption: RESOLUTION #04-08-207 RESOLUTION AUTHORIZING THE TRANSFER OF $333,000 FROM THE EQUIPMENT REVOLVING FUND TO THE FACILITY CONSTRUCTION FUND WHEREAS, at its regular meeting °n July 27, 2004, City Council authorized the Design Development stage for City Hall and Police Department at a cost not to exceed $822,000; and WHEREAS, funding was to be obtained from the year-end General Fund revenue transfer in the amount of $485,885 and $333,000 from the depreciable monies currently held in the Equipment Replacement Fund, but whose book value is under the $5,000 fixed asset threshold policy adopted May 25, 2004; and WHEREAS, costs associated with the City Hall project, are for accounting purposes, reported in the Facility Construction Fund; and WItEREAS, $333,000 needs to be transferred from the Equipment Revolving Fund to the Facility Construction Fund. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: l) That the Ramsey City Council hereby authorizes the transfer of $333,000 from the Equipment Revolving Fund to the Facility Construction Fund for the Design Development stage of the City Hall and Police Department. The motion for adoption of the foregoing resolution was duly seconded by Councilmember Cook, and upon vote being taken thereon, the following voted in favor thereof: Mayor Gamec Conncilmember Kurak Councilmember Cook Cotmcihnember Elvig Councilmember Strommen Councilmember Zimmerman and the following voted against: NODO and thc following abstained: Nolle