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R81- 57 <br />0� RESOLUTION <br />CITY OF LAKE ELM <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION TRANSFERRING THE BALANCE FROM <br />THE ROAD PROJECT FUND FROM THE LMESIGNATED <br />RESERVES IN THE GENERAL FUND TO THE BUILDING <br />CONS`i'RUCTION SINKING FOND IN THE GENERAL FUND <br />WHEREAS, construction of all improvements from the Road <br />Project Fund are complete; and, <br />WHEREAS, all claims for said improvements have been paid; <br />and, <br />WHEREAS, all bonds and interest due for find expenses have <br />been paid; and, <br />WHEREAS, all remaining assets from that fund were transferred <br />to the General Fund by Resolution in 1980; and, <br />WHEREAS, the City has appropriate cash reserves in the <br />General Fund; and, <br />WHEREAS, the City has adequate reserves in the General Fund <br />for all other. Sinking Funds and Contingencies; and, <br />WHEREAS, there is a balance of $131,071.13 in the General <br />Fund from the closed Road Project Fund; and, <br />WHEREAS, the City Council has indicated that these funds <br />should be appropriated to the Building Construction Sinking Fund for <br />the purposes of improving City office space, as long as they are no <br />longer needed for fire equipment: . <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LAKE ELM <br />THAT, the balance of the Road Project Fund, in an amount of <br />$131,071.13, be transferred from the undesignated reserves in the <br />General Fund to the Building Construction Sinking Fund in the General <br />Fund. <br />ADOPTED, this the 4th. day of August, 1981, by the City <br />Council of the City of Lake Elmo, Washington County, Minnesota <br />SIGNED e td.Lt% <br />Maynar, , er, Mayor <br />ATTEST: <br />LatirenceQ Whittaker <br />City Administrator <br />