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RESOLUTION NO. 02-EDA-165 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION AMENDING THE 2001 BUDGET OF THE EDA FUND AND THE TIF DISTRICT FUNDS FOR PROJECTS AUTHORIZED DURING 2001 AND FOR TRANSFERS TO THE DEBT SERVICE FUNDS WHEREAS, the City Charter, Section 7.08 gives the City Council authority to amend the budget by resolution; and WHEREAS, during the year 2001, the Economic Development Authority approved several projects in the E.D.A. Fund that were to be funded by a variety of grants, developer fees, bond sales, and transfers from the TIF Funds; and WHEREAS, the above projects were approved as follows: Project Resolution Amendment to Budget Highway 10 Revitalization Resolution 01-EDS-145 $95,000 Acquisition 3016 Cty Rd H2 Resolution 01-EDA-148 $155,000 Edgewood Regional Pond Resolution 01-EDA-149 $111,662 Edgewood Regional Pond Resolution 5587 $511,874 Acquisition 2091 Hillview Resolution 01-EDA-150 $100,000 Sale of TIF Revenue Bonds Resolution 01-EDA-153 $737,900 TOTAL $1,711,436 WHEREAS, most of these projects were completed in 2001, but one, the Edgewood Regional Pond continued into 2002; and WHEREAS, the City Council adopted Resolution 5735 on March 25, 2002 that authorized a reorganization of funds which included the creation of bond debt service funds separate from the TIF District Funds; WHEREAS, the City’s auditors recommended that the 2001 Annual Financial Report be presented as though these debt service funds had existed from the beginning of the year. NOW, THEREFORE BE IT RESOLVED, THAT the 2001 E.D.A. Fund Budget be amended to the following: REVENUES: State Grants $24,256 Developer fees 23,423 Bond sales 737,900 Transfers from TIF Districts 846,792 Total Revenues $1,632,371 EXPENDITURES: Personnel $86,830 Supplies 930 Contractual Services 1,083,726 Capital outlay 460,885 Total Expenditures $1,632,371