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City of <br />Elk -�-� <br />River <br />City of Elk River <br />City Council <br />Resolution 23-41 <br />A Resolution of the City Council of the City of Elk River authorizing a <br />transfer from the Great River Energy (GRE) Reserve Fund to the Equipment <br />Replacement Fund and the Government Buildings Fund <br />WHEREAS, the GRE Reserve Fund �vas set up to track Host Fee funds received from <br />Great River Energy; <br />WHEREAS, the Great River EnergyT plant has closed and the Host Fee payTments have <br />ended; <br />WHEREAS, the GRE Reserve Fund historicallyT `vas used for miscellaneous projects such <br />as the cityT's wayfinding initiative and the purchase of Bailey Point Nature Preserve. <br />WHEREAS, it has been determined that anyT remaining funds should be transferred out of <br />the GRE Reserve Fund to be split between the Equipment Replacement Fund and the <br />Government Buildings Fund; <br />NOW, THEREFORE, BE IT RESOLVED byT the CityT Council of the CityT of Elk <br />River, Minnesota, as follows: transfer $250,000 from the GRE Reserve Fund to the <br />Equipment Replacement Fund and transfer the remaining balance of approximatelyT <br />$573,000 to the Government Buildings Fund. <br />Passed and adopted this 20th dayT of November 2023. <br />John J. Dietz, Mayor <br />ATTEST: <br />Tina Allard, CityT Clerk <br />rowEREo er <br />���V�� <br />