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. Cky of Ak Dever <br />ver dotty Counrz l <br />ResoBQ don B8- 08 <br />A Resolution of the City Council of the City of Elk River Authorizing a <br />Transfer from the General Fund to the Pinewood Golf Course Fund <br />WHEREAS, The City Council approved a management agreement on March 6, 2017, with <br />Elk River Golf Club to operate the city -owned Pinewood Golf Course. <br />WHEREAS, The city would retain all revenues and pay all expenses relating to the <br />operation of Pinewood Golf Course, and is responsible for all operating losses. <br />WHEREAS, The operating loss for Pinewood Golf Course for the year ending December <br />31, 2017, is $41,065.18. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: transfer $41,065.18 from the General Fund to the Pinewood <br />Golf Course Fund. <br />Passed and adopted this 5"' day of February 2018. <br />ATTEST: <br />Tina Allard, City Clerk <br />qA@A - <br />hn . Diet ayor <br />IIr1 1 R t ItDI 1 <br />P <br />■ -ATURE <br />