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ORDINANCE ~93-17 <br /> <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />AN AMENDMENT TO CHAPTER 3 KNOWN AS <br />ADMINISTRATION CHAPTER OF THE CITY CODE <br />AN ORDINP~NCE AMENDING CHAPTER 3 AND <br />REPLACIb G SECTION 3.40 ENTITLED "CITY FUNDS' <br /> <br />The City ol Ramsey ordains: <br /> <br />THE OPERATIONS AND <br /> <br />REPEALING AND <br /> <br />Section 1. ~ <br />Chapter 3.40 ~ntifled "City Funds" is hereby repealed and replaced with the <br /> following: <br /> <br />3.40 ~ CITY FUNDS <br />3.40.01 'I Purpose. It is the purpose of this section to establish City funds for the <br />deposit and d!,sb ~UrSement of monies received by the City of Rams,y, to define polices for funds, <br />and to define WhiCh funds are eligible for inter-fund loans. This section is adopted pursuant to and <br />under the autliority of Chapter 7 of the C~ty Charter. <br /> [ <br />3.40.02 [Establishment of Funds. The following funds and fund classifications are <br />established fo~ ~eposit and disbursement of revenues: <br /> Subdiwsion 1. Governmental Funds: <br /> <br />(a) <br /> <br />(b) <br /> (1) <br /> <br /> (2) <br /> <br />General Fund. The General Fund is the general operating fund of the City. It <br />shall be used to account for all financial resources except those required to be <br />ac0ounted for in another fund. <br /> <br />· The General Fund is eligible for inter-fund loans to and from any other fund. <br /> <br />[ <br />i Speciai Revenue Funds. Special Revenue Funds are used to account for <br />iSl~ ific revenue sources (other than special assessments, expendable trusts, or <br />major capital projects) that are legally restricted to expenditures for specified <br />purposes. The following are the City's Special Revenue Funds: <br /> <br />i Tax Increment Fund. <br />iT he Tax Increment Fund shall be used to account for the revenue recmved from <br />i general property taxes in the form of tax increments for the City's tax increment <br />: financing districts and transfer of funds necessary for the retirement of debt issued <br />:in those districts. <br /> <br />iFunding shall consist of the following sources: <br /> Annual increments received from general prop,ny taxes through the expiration of <br />[each district; and <br />i In?est earnings on the Tax Increment Fund from the distribution of pooled interest <br />i earrllngs. <br /> <br />Page I of 10 <br /> <br />r <br /> <br /> <br />