RES 16-88KeS(D 4 do n B 6® 88
A Resolution of the City of Mic River Removing Commitment of General
Fund Balance for OPEB Obligation
WHEREAS, the City Council adopted a resolution on November 15, 2010, formalizing
the commitment of the General Fund balance for the city's other postemployment benefit
(OPEB) obligation as determined each year by the annual audit; and
WHEREAS, commitments of fund balance may be changed or lifted only by the same
formal action that imposed the constraint originally; and
WHEREAS, the city desires to lift the $376,943 commitment of the General Fund balance
for OPEB obligation; and
WHEREAS, the city desires there be no amounts of General Fund balance committed for
any purpose.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: That any and all commitments of General Fund balance be
removed effective immediately upon adoption of this resolution.
Passed and adopted this 19s' day of December 2016.
J n J. Phetz, KlWr
ATTEST:
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Tina Allard, City Clerk
P01EREI R/
MATURE