HomeMy Public PortalAbout2014-029 Resolution Approving Proposed Transfers and Assignment of Fund ReservesMember Martinson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2014-29
RESOLUTION APPROVING PROPOSED TRANSFERS AND
ASSIGNMENT OF FUND RESERVES
WHEREAS, On April 15, 2014, the City Council conducted a workshop at which various uses of
the General Fund balance reserves were discussed.
BE IT RESOLVED, by the city council of the City of Medina, County of Hennepin, Minnesota,
that the following actions be:
$855,000 be Transferred from the General Fund to the following funds:
- $25,000 to the Road Improvement Fund for Brockton Lane North Cost Share with the
City of Plymouth
- $530,000 to the Road Improvement Fund to assist in financing future street projects
- $100,000 to the Water Capital Improvement Fund for a future water tower
- $200,000 for City Hall renovations
$145,000 be Assigned from General Fund reserves:
- $145,000 for potential legal fees
Date: May 6, 2014.
eth Weir, Mayor
ATTEST:
Scott T. Johnso City Administrator -Clerk
Resolution No. 2014-29
May 6, 2014
The motion for the adoption of the foregoing resolution was duly seconded by member Pederson
and upon vote being taken thereon, the following voted in favor thereof:
Anderson, Martin, Martinson, Pederson, Weir
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2014-29 2
May 6, 2014