#125 10-03-78 Establish Park Reserve FundResolution #125
Member Johnson introduced and read the written resolution and moved its adoption:
RESOLUTION
(Establishing a Park Reserve Fund)
WHEREAS, the City Council of the City of Golden Valley is desirous of
providing funding for certain capital needs of the City over a period of successive
budget years without the effect of substantial fluctuations in tax levy, and;
WHEREAS, this fluctuation is particularly felt in the area of park upgrading
and replacement, NOW THEREFORE:
BE IT RESOLVED by the City Council of the City of Golden Valley as follows:
1. There is hereby established a fund to be known as the Park Improvement
Reserve Fund into which the Council may appropriate funds from General
Fund Tax Levies or from such other sources as may be found to be appro-
priate. Said funds are to be held for the purpose of being reappropriated
to current or subsequent Park budgets for improvements and replacements
of the park system, and;
2. The fund established above is to be set up for 1979 and subsequent
years and are subject to budget procedures as established by the Council.
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MAY AN„ RSON, MAYOR PRO -TEM
ATTEST:
JOHN MURPHY, COITY CLERK
The motion for the adoption of the foregoing resolution was duly seconded
by Member Thorsen and upon vote being taken thereon, the following voted in favor
thereof: Anderson, - Johnson, Stockman, Thorsen and the following voted
against the same: none, whereupon said resolution was declared duly passed and
adopted, signed by the Mayor Pro -tem and her signature attested by the City Clerk.
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