Laserfiche WebLink
(b) <br /> (1) <br /> <br /> (2) <br /> <br /> (3) <br /> <br />Funding shall consist of the following sources: <br />Ten percent of monthly gross revenues, generated during the life of the Anoka <br />Regional Sanitary Landfill; and <br />Transfers from the MSA Fund, through 1996, for re-payment of a loan in 1991 for <br />MSA projects; and <br />Interest earnings on the Landfill Expendable Trust Fund from the distribution of <br />pooled interest earnings. <br /> <br />(c) <br /> (1) <br /> (2) <br /> <br />(3) <br /> <br />(4) <br /> <br />(5) <br /> <br />Expenditures shall consist of the following uses: <br />Payment of any legal costs related to the landfill closure and post closure; and <br />Transfers to the Park Improvement Revolving Fund, on an annual basis, in an <br />amount not to exceed the interest available in the Landfill Expendable Trust Fund <br />and as detailed in the annual Capital Improvement Program as defined by City <br />Council; and <br />Transfers to other non-operating City funds to offset, retire or avoid future debt. <br />This amount, when combined with the above transfers and payments, shall not <br />exceed the amount of interest earnings available to the Landfill Expendable Trust <br />fund; and <br />Any capital expenditures (non-operating) that would utilize principal and are <br />approved by a four-fifths vote of the City Council; and <br />Any loans or transfers for other than capital expenditures shall be authorized only <br />if the City Council declares an emergency situation to exist. <br /> <br />(d) <br /> <br />Fund balance shall be increased to and maintained at $2,750,000 or a level that <br />will provide for interest earnings adequate to support expenditures as detailed in <br />the annual Capital Improvement Program combined with transfers to other non- <br />operating City funds. <br /> <br />(e) <br /> <br />This fund is eligible for inter-fund loans. However, only forty percent (40%) of <br />the principal balance shall be used as a source of interest free inter-fund loans and <br />any loan or transfer of principal from the Landfill Expendable Trust Fund shall be <br />approved by a four-fifths vote of the City Council. <br /> <br />(a) <br /> <br />Park Improvement Trust Fund. <br />The Park Improvement Trust Fund shall be used to account for all cash and park <br />dedication fees and miscellaneous revenues to be used for future land acquisition <br />and park improvements. <br /> <br />(b) This fund is eligible for inter-fund loans. <br /> <br />J <br />(a) <br /> <br />Escrow Fund. <br />The Escrow Fund shall be used to account for monies held for specific purposes <br />from developers, contractors, builders, residents or the like. This fund shall be <br />non-interest bearing. <br /> <br />(b) This fund is not eligible for inter-fund loans. <br /> <br />(a) <br /> <br />Flexible Benefit Plan Fund. <br />The Flexible Benefit Plan Fund shall be used to account for the City's flexible <br />benefit plan which is classified as a "cafeteria plan" under Section 125 of the <br />Internal Revenue Code. <br /> <br />(b) This fund is not eligible for inter-fund loans. <br /> <br />Nonexpendable Trust Funds. Non-expendable Trust Funds are funds whose <br />principal must be preserved intact. These funds are intended to account for the <br />principal portion of an endowment provided to the City by private donors with the <br /> <br />Page 10 of 12 <br /> <br /> <br />