#818 10-06-75 Surplus Monies Motor Vehicle License Fund Transfer1 --
Resolution No. 818
October 6, 1975
Member Swartz introduced the following resolution and MOVED its adoption:
RESOLUTION
(Declaring surplus monies in the Motor Vehicle License Fund and appropriating
certain sums to transfer to the 1976 City Budget)
WHEREAS, the Motor Vehicle License Fund of the City of Golden Valley did,
at December 21, 1974 have an uncommitted cash balance of $73,856 and,
WHEREAS, the amount needed to finance current operations in accordance
with the 1975 budget and to provide a sufficient cash reserve would not
exceed $15,000,
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of
Golden Valley that a condition of surplus in excess of the needs of the fund
is hereby declared and,
BE IT FURTHER RESOLVED that the City Treasurer is directed to transfer
the sum of $56,431 to the general fund of the City for thrpose funding
provisions of the 1976 budget of a long—term capital nat r 71
.
Attest: Mayor
RI WAR 41-f
The motion for the adoption of the foregoing resolution was duly seconded by
Member Anderson and upon vote being taken thereon, the following members
voted in favor thereof: Anderson, Bix, Hoover, Swartz, and Bix, and the
following voted against the same: None, whereupon said resolution was declared
duly passed and adopted, signed by the Mayor, and his signature attested by the
City Clerk.