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RESOLUTION NO. 5451 <br />Authorizing the establishment of a Park Dedication Fund and transferring in various funds to <br />initially establish said Fund. <br /> <br /> CITY OF MOUNDS VIEW <br /> County of Ramsey <br /> State of Minnesota <br /> <br /> <br />WHEREAS, the City has received various funds for park land dedication which are presently recorded <br />and accounted for in the General Fund; <br /> <br />WHEREAS, the City has little land remaining which will be required to pay park land dedication fee to <br />the City, thereby limiting funds to be received in the future; and <br /> <br />WHEREAS, the City has contracted with the YMCA to manage its recreation programming and funds <br />remain in the City’s Recreation Special Revenue Fund. <br /> <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View that City <br />authorizes the establishment of a Park Dedication Fund, with the interest earned on such fund to be used <br />for capital improvements to the City’s park and recreation facilities. <br /> <br />BE IT FURTHER RESOLVED that funds in General Fund Park Dedication Reserve account and in the <br />Recreation Special Revenue Fund are hereby transferred to the Park Dedication Fund, and the General <br />Fund Park Dedication Reserve account and Recreation Special Revenue Fund are to be closed. <br /> <br />BE IT FURTHER RESOLVED that the effective date for this resolution is for the year ending <br />December 31, 1999. <br /> <br />Said resolution was declared to have been duly passed and adopted this 12th day of June, 2000. <br /> <br /> <br />ATTEST: <br /> <br /> <br />Mayor <br /> <br /> <br />(SEAL) <br /> <br /> <br />City Administrator <br />