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RESOLUTION 08 - <br />A RESOLUTION OF THE CITY OF ELK RIVER <br />A RESOLUTION AUTHORIZING A TRANSFER FROM THE CAPITAL OUTLAY <br />RESERVE FUND TO THE EQUIPMENT REPLACEMENT FUND <br />WHEREAS, 'The City Council approved establishing the equipment replacement fund on May 12, <br />2008, and, <br />WHEREAS, 'The City Council has reviewed the request and determined it to be a sound financial <br />practice; and, <br />WHEREAS, It has been determined that $1,000,000 should be transferred out of the Capital <br />Outlay Reserve Fund to provide funding fox the Equipment Replacement Fund; <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the Ciry of Elk River <br />makes the following transfer of funds from the Capital Outlay Reserve Fund: <br />Equipment Replacement Fund $1,000,000 <br />Passed and adopted this 19`h day of May 2008. <br />Stephanie K1ixlzing, Mayor <br />A`1"TEST: <br />Tina Allard, City Clerk <br />C:AUocumenCS and Settings\jmillex\Local Secti~gs'\Tempoiary Intunet Files\OLK3S\egwpmenh-eplacemenrf~nddoe <br />