RES 08-033RESOLUTION 08., 033
RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING A TRANSFER FROM THE CAPITAL OUTLAY
RESERVE FUND TO THE EQUIPMENT REPLACEMENT FUND
WHEREAS, The Cite Council approved estal shin die equipment replacement fund on May ,
2008, and,
WHEREAS, The City Council has reviewed the requestand deterred it to bea sound fmanclal
practice; and,
WHEREAS, It has been deterrru'ncd d -iat $1 000,000 should be transferred out of die Capital
Ouday Reserve Fund to proVIde funding for the c
UIP
e t Replacement Fund;
NOW, WHEREFORE, BE IT RESOLVED that die Cite Council of the Cit t of River
makes ffi 'ollowm' transfer of funds from the Capital Ouday Resenre Fund:
Equipment Replacement Fund $1)000)000
Massed and adopted this 19 "' day of May n o .
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Ste h,,Le Kiin m , TvUwt
ATTEST:
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Tina Mard, C1tT Clerk