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MINUTES <br />CITY COUNCIL <br />NOVEMBER 12, 1997 <br />Morelan asked ifthis is a new fund. The Administrator answered <br />affirmatively and reported that revenues and expenditures for Rice/Little <br />Canada Road were being accounted for in the Interim Construction Fund. <br />The City's Auditors suggested the creation of this fund to better track <br />revenues and expenses. These funds are for the Round Lake acquisition <br />program. <br />The Administrator pointed out that the $330,000 in funds transferred into <br />the Fund include $220,000 from the Infrastructure Replacement Fund and <br />$110,000 from the Park Acquisition Fund. <br />The Administrator reviewed the Infrastructure Capital Improvement Fund <br />as well as the Gambling Enforcement Fund. <br />It was pointed out that the City will conduct its Truth In Taxation Hearing <br />on Tuesday, December 2, 1997 at 7 P.M. <br />Upon motion by LaValle, seconded by Pedersen, the budget workshop <br />was adjourned. <br />There being no further business, the meeting was adjourned at 8:50 P.M <br />Mich el I. Fahey, Ivlayor <br />Attest: ~ l~_ \ <br />Joel . Hanson, City Administrator <br />10 <br />