17-20 - 04-20 - Transfer Funds from General Fund Resolution 17-20 April 20, 2017
Member Schmidgall introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING THE TRANSFER OF $1,000,000 FROM THE
GENERAL FUND TO THE PARK IMPROVEMENT FUND FOR $300,000 AND TO THE
STORM WATER UTILITY FUND FOR $700,000.
WHEREAS, the General Fund Reserves meets 60% of 2017 expenditures, and
WHEREAS, the transfer of$300,000 to the Park Improvement Fund to help
maintain the current park and open space systems, and
WHEREAS, the transfer of$700,000 to the Storm Water Utility Fund would fund
needs for infrastructure improvements, and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley to authorize the transfer of$1,000,000 from the General Fund to the Park
Improvement Fund for$300,000, and to the Storm Water Utility Fund for$700,000.
hep rd M. Harris, Mayor
ATTEST:
Kristine A Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Clausen
and upon a vote being taken thereon, the following voted in favor thereof: none
and the following voted against the same: Clausen, Fonnest, Harris, Schmidgall and Snope
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and his signature attested by the City Clerk.