RES 11-20•
RESOLUTION I I -_~Q
A RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING THE TRANSFER OF EQUIPMENT
CERTIFICATES DEBT SERVICE FUNDS
WHEREAS, on February 1, 2011 the 2006B Equipment Certificates have been repaid in full; and,
WHEREAS, Fund 340 Equipment Certificates debt service fund is no longer utilized to account
for resources that are restricted for repayment of the debt the excess funds can be transferred to
another fund; and,
WHEREAS, The City Council has reviewed the request to transfer the funds for the acquisition of
capital equipment and determined it to be a sound financial practice.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk River
makes the following transfer of funds:
Fund 340 Equipment Certificates to Fund 410 Equipment Replacement
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Passed and adopted this 2°a day of May 2011.
j j. Die , Ma o
ATTEST:
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Tina Allard, City Clerk