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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 5829 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION ATHORIZING INTERFUND LOANS FOR THE YEAR 2002 <br />AND SETTING AN INTEREST RATE ON LOANS <br /> <br />WHEREAS, various interfund loans existed on December 31,2001; and <br /> <br />WHEREAS, there will be operating deficits in the TIF Funds during the year 2002 <br />that will require additional interfund loans from the Community Fund; and <br /> <br />WHEREAS, to provide equity between funds there should be a uniform interest <br />rate charged on interfund loans. <br /> <br />NOW, THEREFORE BE IT RESOLVED, THAT the following inter fund loans that <br />existed on December 31, 2001 be authorized to continue through 2002: <br />~_~l}nd~xtendirlg -~_oan ! Fu~_q. Receivi~g. L~Ein ! Loan Amount <br />i Community Fund i TIF District #1 $1,698,681 <br />. Special Projects Fund ~cycling Fund- -- I . 16,135 <br />LSpeclal Proje~ts Fund I Golf Cou-r-se Fund ... mT' .~_~ 2,23,514_ <br />. Vehicl~& Equipm~_nt Fund Golf Course Fund . .__._____ 306,828 <br />i Wate~fund Golf Course Fund_L.____~0,009 <br /> <br />BE IT FURTHER RESOLVED THAT additional loans of up to $621,505 may be <br />made from the Community Fund to any of the TIF District Funds, as needed, to cover <br />operating deficits during the year 2002. <br /> <br />BE IT FURTHER RESOLVED THAT all interfund loans shall pay interest at a <br />rate of 4.5% during the year 2002. <br /> <br />Adopted this 26th day of August 2002. <br /> <br />ATTEST: <br /> <br />. ~~ <br />Richard Sonterre, ayor <br /> <br />(SEAL) <br /> <br />/ 'I <br />- -_.....-/ ~c.,.-?. <br />W{,CJ d'~tL,-> <br />Kathl en F. Miller, City Administrator <br /> <br />Motion by: Quick <br />Second: Thomas <br />Sonterre: Aye <br />Stigney: Nay <br />Marty: Aye <br />Thomas: Aye <br />Quick: Aye <br />