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Councilmember Reimann introduced the following resolution and moved for its <br />adoption: <br /> <br />RESOLUTION #85-3 <br /> <br /> WHEREAS, the City of Ramsey will be providing City water to certain <br />new developments in the City's urban areas which will require the installation <br />of a water meter in residential dwellings/commercial establishments; and <br /> <br /> WHEREAS, 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 /> WHEREAS, it is requested that an interfund loan in the amount of <br />$7,000.00 be made from the General Fund to the Water Utility Fund which has a <br />zero cash/fund balance. Tne purpose of the interfund loan is to allow the Water <br />Utility Fund to make the purchase of the water meters; and <br /> <br /> WHEREAS, 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 />NOW ~EREFORE, BE IT RESOLVED BY ~E CITY COUNCIL OF ~I~E CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> 1) It is hereby approved that the City of Ramsey enter into an inter- <br />fund loan between its General Fund and its Water Utility Fund in the amount of <br />$7,000.00. Further, the Council hereby authorizes the Mayor and City Admini- <br />strator/Clerk to sign the agreement contained in enclosure (1). <br /> <br /> 2) The City Council also authorizes the transfer of the $7,000.00 <br />from the General Fund to the Water Utility Fund. <br /> <br /> 3) It is hereby directed that the City Accountant 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 />The motion for the adoption of the foregoing resolution was duly seconded by <br />Councilmember Cox and upon vote being taken thereon, the following voted in <br />favor thereof: <br /> <br />Mayor Heitman, Councilmembers Reimann, Cox, Schlueter and Sorteberg <br /> <br />and the following voted against the same: <br /> <br />None <br /> <br />Page 1 of g <br /> <br /> <br />