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RESOLUTION I I - 83 <br />• OF THE CITY OF ELK RIVER <br />A RESOLUTION <br />A RESOLUTION AUTHORIZING A TRANSFER FROM THE <br />GOVERNMENT BUILDING FUND TO THE INSURANCE RESERVE FUND <br />WHEREAS, The City of Elk River has incurred litigation costs and the Insurance Reserve <br />Fund has insufficient funds to cover these costs, 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 $329,196.14 will be transferred out <br />of the Government Building Fund to provide funding for the landfill litigation costs. <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 Government Building Fund: <br />Insurance Reserve Fund $329,196.14 <br />• <br />Passed and adopted this 19`'' day of December 2011. <br />Jo J. ietz, M or <br />ATTEST: <br />~'7 <br />~,--. <br />Tina Allard, City Clerk <br />• <br />N:\Public Bodies\City Council\Counal RCA\Agenda Packet\12-19-2011\Resolution%20insurancetransfer[1].docx <br />