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RESOLUTION 13 -23_ <br />A RESOLUTION AUTHORIZING <br />RESERVE D TO PAVEMENT MANAGEMEN I I <br />WHEREAS, FUND <br />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 />RE AS, 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, 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 15th day of April 2013. <br />Jq nJDi E 'tz,Ma o—r) <br />v <br />ATTEST: <br />Tina Allard, City Clerk <br />N: \Public Bodies \City Council \Council RCA \Agenda Packet\ 04-15 -2013 \Pavement <br />Management Fund Resoludon.doc <br />