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KeS(D 4 do n B 6® 88 <br />A Resolution of the City of Mic River Removing Commitment of General <br />Fund Balance for OPEB Obligation <br />WHEREAS, the City Council adopted a resolution on November 15, 2010, formalizing <br />the commitment of the General Fund balance for the city's other postemployment benefit <br />(OPEB) obligation as determined each year by the annual audit; and <br />WHEREAS, commitments of fund balance may be changed or lifted only by the same <br />formal action that imposed the constraint originally; and <br />WHEREAS, the city desires to lift the $376,943 commitment of the General Fund balance <br />for OPEB obligation; and <br />WHEREAS, the city desires there be no amounts of General Fund balance committed for <br />any purpose. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: That any and all commitments of General Fund balance be <br />removed effective immediately upon adoption of this resolution. <br />Passed and adopted this 19s' day of December 2016. <br />J n J. Phetz, KlWr <br />ATTEST: <br />,�--- (�c <br />Tina Allard, City Clerk <br />P01EREI R/ <br />MATURE <br />