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CITY OF LITTLE CANADA <br />RESOLUTION NO. <br />AUTHORIZING TIIE ESTABLISHMENT OF A CAPITAL PROJECTS FUND FOR FIRE <br />EQUIPMENT REPLACEMENT AND INITIATE A TRANSFER TO THE FUND <br />WHEREAS, the City can create a Capital Project Fund to accumulate resources for the <br />acquisition of fixed assets, <br />WHEREAS, the City sees the need to accumulate funds to provide the ability to purchase <br />fire equipment in the future, <br />WHEREAS, the City will have accumulated $322,833 for the fire equipment replacement <br />as of December 31, 2012 in the General Capital Improvement Fund, <br />WHEREAS, creating a separate Capital Project Fund solely for the purpose of <br />accumulating funds for the acquisition of fire apparatus will make tracking this fund balance <br />easier, <br />NOW, THEREFORE, I3E IT RESOLVED that the City Council of the City of Little <br />Canada, Minnesota, approves the establishment of the Fire Equipment Replacement Fund and <br />the transfer of $322,833 from the General Capital Improvement Fund to the Fire Equipment <br />Replacement Fund. <br />NOW, THEREFORE, BE IT FURTHE RESOLVED by the City Council of the City of <br />Little Canada that the above referenced transfer and fund establishment shall be effective <br />December 31, 2012. <br />Passed and adopted by the City Council of the City of Little Canada, Minnesota, this 19th <br />day of December, 2012. <br />William Blesener, Mayor <br />Attest: <br />Joel Hanson, City Administrator <br />