87-031 RES
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RESOLUTION 87 - 31
RESOLUTION OF THE CITY OF ELK RIVER
RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM THE CAPITAL
PROJECT FUND TO THE PARK DEDICATION FUND
WHEREAS, the City maintains a Capital Projects Reserve Fund for
various improvements that can not be funded from any
other source; and
WHEREAS, the City is planning Capital improvements for Orono
Park in 1987 to include, but not limited to, parking
lot bituminous surfacing, street repair, and concrete
curb, and;
WHEREAS, the City Council wishes to retain the Park Dedication
Fund at its current level and not fund these
improvements from the Park Dedication Fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council, City of Elk
River, that $50,000 will be transferred from the
Capital Project Fund to the Park Dedication Fund to
finance Orono Park capital improvements.
BE IT FURTHER RESOLVED that any surplus cash remaining after
completion of the improvements will be transferred back to
the Capital Projects Fund.
Passed and adopted by the City Council of the City of Elk River,
this 22nd day of June, 1987.
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Estelle Gunkel,'Mayor
ATTEST:
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Patrick D. Klaers, City Administrator