08-15 - 03-18 - Transfer $885,048 General Fund to Equipment Replace Fund ($550,000) Building Improvement Fund ($335,048)Resolution 08-15
0 Member Pentel introduced the following resolution and moved its adoption:
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March 18, 2008
RESOLUTION AUTHORIZING THE TRANSFER OF $885,048 FROM THE
GENERAL FUND TO THE EQUIPMENT REPLACEMENT FUND ($550,000)
AND BUILDING IMPROVEMENT FUND ($335,048)
WHEREAS, the transfer of $550,000 to the Equipment Replacement Fund would
finance the replacement of fire pumper unit number 325 which is twenty-two years old. This
transfer will eliminate the need for one of the two equipment certificates of indebtedness as
outlined in the 2008-2012 Capital Improvement Program.
WHEREAS, the transfer of $335,048 to the Building Improvement Fund would
finance future improvements to the City buildings as outlined in the City's Capital
Improvement Program.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley to authorize the transfer of $885,048 from the General Fund to the Equipment
Replacement Fund ($550,000) and Building Improvement Fund ($335,048).
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ATTEST:
440- Im I ��,
usan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Pentel
and upon a vote being taken thereon, the following voted in favor thereof: Freiberg,
Loomis, Pentel, Scanlon and Shaffer; and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.