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RESOLUTION 13 - <br />A RESOLUTION OF THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING A TRANSFER FROM THE STREET <br />IMPROVEMENT RESERVE FUND TO THE PAVEMENT MANAGEMENT <br />FUND <br />WHEREAS, The City Council considered the creation of a franchise fee for funding street <br />reconstruction on April 15, 2013; and <br />WHEREAS, The City Council has reviewed the request and determined it to be a sound <br />financial practice; and <br />WHEREAS, It has been determined that an amount of $3,000,000 will be transferred out <br />of the Street Improvement Reserve Fund to provide funding for the 2013 <br />street project and startup funding of the pavement management fund. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk <br />River makes the following transfer of funds from the Street Improvement Reserve Fund: <br />2013 Pavement Management Fund $3,000,000 <br />Passed and adopted this 15`h day of April 2013 <br />John J Dietz, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />N: \Public Bodies \City Council \Council RCA \Agenda Packet \04 -15- 2013 \Pavement <br />Management Fund Resolution.doc <br />