RES 11-83RESOLUTION I I - 83
• OF THE CITY OF ELK RIVER
A RESOLUTION
A RESOLUTION AUTHORIZING A TRANSFER FROM THE
GOVERNMENT BUILDING FUND TO THE INSURANCE RESERVE FUND
WHEREAS, The City of Elk River has incurred litigation costs and the Insurance Reserve
Fund has insufficient funds to cover these costs, and
WHEREAS, The City Council has reviewed the request and determined it to be a sound
financial practice; and,
WHEREAS, It has been determined that an amount of $329,196.14 will be transferred out
of the Government Building Fund to provide funding for the landfill litigation costs.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk
River makes the following transfer of funds from the Government Building Fund:
Insurance Reserve Fund $329,196.14
•
Passed and adopted this 19`'' day of December 2011.
Jo J. ietz, M or
ATTEST:
~'7
~,--.
Tina Allard, City Clerk
•
N:\Public Bodies\City Council\Counal RCA\Agenda Packet\12-19-2011\Resolution%20insurancetransfer[1].docx