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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 87 - 83 <br /> <br />RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM THE 1977 <br />IMPROVEMENT FUND TO THE CITY HALL RESERVE FUND <br /> <br />WHEREAS, the General Obligation Improvement Bonds of 1977 have <br />been retired; and, <br /> <br />WHEREAS, the General Obligation Improvement Bond Fund of 1977 <br />has excess cash of approximately $4,500.00; and, <br /> <br />WHEREAS, Minnesota Statutes Sections 435.203 and 475.61 <br />Subdivision 4, allow for the transfer of these funds <br />for any general purpose; and, <br /> <br />WHEREAS, the City Council deems it necessary to create a City <br />Hall Reserve Fund for the future construction of a <br />permanent City Hall facility. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River, that any remaining funds in the Improvement <br />Fund of 1977 be transferred to the City Hall Reserve <br />Fund and the Improvement Fund of the 1977 be closed. <br /> <br />Passed and adopted this 21st day of December, 1987, by the City <br />Council of the City of Elk River. <br /> <br />6Jizll/ c~~ ~,J/{ ,'iT "1 <br /> <br />Estelle E. Gunkel, Mayor <br /> <br />ATTEST: <br /> <br />~j? /:Z~ <br /> <br />Patrick D. Klaers, City Administrator <br />