HomeMy WebLinkAboutOrdinance 356
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ORDINANCF. NO. 356
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATF. OF MINNBSOTA
AN OROTNANl.~ ESTABLISHING CHAPTER 27 OF THE
HUN ICI PAL cem: ENTITLED .. ~PI';C lAL PROJEC' J FUND"
The Coun~il ot the City of Mound~ View d0es hereby ordain:
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~'Jbdi;iision I. Capita!._~mprovemen':' Projects. Projects which
are intended to ~cquire, construct, permanently modify or
purchase assets of a long t~rm charncter which are intended to
cont.inue to be held or used, 5uch as Ian<i, hui.!.dinC)s and
machinery.
Sub<iivision 2. ~~~.!:.5Len':X. An eMergency is an occurrence
where, the public llealth, safety, and welf<lre is jeopardized,
where, immediate act ion is neces~ary, nnd must be declared by a
4/5 vote of the entire Council.
. Subdivision 3. En~erpris~ Fun<i. A fund established to
flnance and account l0r the acqui~ition, operation, and
maini.enance of govermE>ntal fac:ilit.ies which are entirely or
predominantly R~lf-supporting hy us~r charges. Examples of
enterpripe funds are those for wate~, sewer, gas, and electric
utilit:i~s, ~wimminq pools, airports, parkiny gacages, and transit
systems.
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Subdi'.;isi(m4. E:9.uipment. Tangible prqle:-ty,bf ii'mo:-,-:'(Jr
less pe!:"milnent nAture, other than lanrl, huildings, or
improver'1t'nts other than buildings, which is useful in carrying on
uperations. EXdmples ure machine:y, tnlcks, cars, furniture, and
furnishings.
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SubdlVisio:1 c. ~r.eral Government Maintenance Exper:ses.
Costs incurred for the lJ?keep of phy!dc?tl prop~rties in
condition for us~s or occupan~y which are us~d in the rendering
of services traditionally associated with municipal government as
distinguished from thone provided by municipal pnterprise
operations.
Suhdivision 6. Gene~~l Governme~t oper~ting ~xpenses. Costs
which are necessary to the rend9riny 6f services traditionally
associated with municipal govornment as distinguished from those
provided by municipal enterprise operdtions.
subdivision 7. Publ ic~~~~t->~~.f.roiects. Puhl ic
imp~ove~ent projects as <iefined in Chapter 26 of the Code.
SU0division H. ~peci~l Assessment Fund. A fund set up to
finance an<1 account for the construction of improvemeni.s or
provision of services which are to be paid for, wholly or in
pa!"'t, from special assessments Ipvi~d dyain!;t bcn~fitted
property.
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27. 02 Spec!.tl.. Project~ Fund Establ i shec!:PURPOSE
Subdivision 1. There is hereby established and created a
separate ~nd ~pecial fund designated as the Special Projects
Fund, which the Clerk-Administrator and Finance Director-
Treasurer ,shall maintain on the official accounting records and
financial ~t~tement8 of the City and administ~r in accordance
with this ordinance. This fund may he used to mdk~ 1ntarest
bearing 10ans to financ~ public improveme~l proj~cts authorized
pursuant to Chapt~r 26 of the Code or to make interest bearing
loans to finance equipment pur~h~s~e and/or capital improvement
p~~jccts~ whi~h h~ve been included in the Long T~rm Pinancial
Pla~, ot any City enterprise fund.
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Subdivision 2. This fund may also be used to mak~ permanent
transfers for the purchase of equipment and/or to finance capital
improvement projects, which hau~ hopn included in the Long Term
Financial Pl~nt of any City fund except special assessment and
enterprise f~nds. Tn no event ~hall this fund be us~d t() finance
current and recur~ing general gover~ment operations and mainten-
ance e)rpense!'>.
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Subdivision 3. This fUIl.i may be used tOr.lak"e permanent""
transfers to the fund halance of the Gene..-al Fund to ensuret'hat
ther'e exi!'>ts a, cash flow reservp anrl a reserv~ for contingen-
cies. Th~ amounts of said reserves shall be ,determined by the
CitY'Council.
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Sl1bdivision 4. Thi:<; fund may also be used to make emergency
repaits to the publir utility ~ystem. City streets and highways,
municipal buildings. and macninelY dlh1 equip;:::ent in the eV~nt '
that monies fnr s~irl rpp~irs h~vp not hpen rreviously budgeted
and/or that sllfficient moni.'}!'> c.n~ not <ivailable for 5aid repa'irs'
from other sources. Tn the event that the emergency repairs'
needl,ej are to asset!'> accoun I:.t'>d for in the \-la ter Fund, Sewer Fund,
or any City enterprise fund t~~ monies for said repairs ~hall be
in the form of,an int~rest bearing loan. At the o~tion of the
Council monies us~d far repairs to assets accounted for in other
funds may be in the form of interest bearing loans or permanent
transfers. It shall be used for no other purpose and any~onies "
on deposit in the fund may be invested in accordance with
provisions of the City Ch~rtpr anrlwith applicable Minnesota _
Statutes.
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Subdivision 5. This fund may also be used to pay the bend.
se~vice charges of' tne paying agents of the hands which were
formerly accounted for in thf" Iinprovement Bo'nd Rede'mpt ion Fund,,'"
and which were defeased on Januacy 18, 1934.
27.03 Funds To Be Deposited Therein
There shall he deposited in said fund the initial sum of
S________which '-epresents the ~ash halance rern.1ining in the
Improvement Rond Redemption Fund after the c~sh defeasance of
that fund's ollt!-;tanding bonds. The special assessments
rHceivable of the Improvement Rand Redemption Fund shall he
tr~n!'>ferred to said fund and hereafter all future payments of
prinCipal and interest on thOSH itS::;O::::;::;I"~ld.ii .;hull be dcpasit~rt in
the fund. There may also he deposited in said fund such oth~r
monie!': as may he dirp.cted hy the Council.
;subdivision 4. In the event of a p~rmanent transfer to,the
fund" balance of the General Fund the authori2: ing resolution shall
state the amc'wt of t.h~ tra:1sf~r ann shall indicate whether said
transfer is designated for the cash flow reserve or the 'reserve
.r contingencies.
, , " 27.05 A"l\me~dmen t 0i- p-cpr.a 1
.. coun;~lo~h i~e ~~~~~~ ~~~~; y a .;e:~~~ ~~~~ ~~~~~e~~e~:e~~t ~~: ;ev"rit::;'>"~;~;;''{~
of repeal, monips accumulat~d in the Fund shall be depo~ited in
the ~Gene;:-nl Fund with the resolution authorizing repeal speci-'
fyirlg lhe purpose(s) for ~hich th~ fundc ~uuld be expended.
21.04 ~of Funds
"e Subdivision 1. Upon tho adoption of a resolution by 4/5 of
entire council, monie9 of the fund may be used for the
,~ po~es slated in Section II above. In the event of an irtterest
beariog loan the resolution authorizing said lo~n shall~tate the
__amount of the loan, its purpose, term, interest rat~, and method
of repayment.
Subdivision 2. In the event of the purchas~ of oqulpmantor
th~ financing of ~apital improvement projects, the authorizing
resolution shall state the amount of the purchase o~ financing,
~h=ll; ~')nl:~in a description of the equipment or project, ,and
shall' designate the fund tG ,.;hid'l thp monies arE' to be
t rans:fered.
Subdivision 3. In the event of emergency repairs the
authorizing r~301~tinn shall state the nature of the repairs, the
amount needed for said repairs a:1d shall designate the fund to
which the monie~ are to be lransfe~r~rl. The authorizing
~esoIution shall also ~tate that monin3 for said emerg~"cy
repairs had not previously been burlgeted and that sufficient
monies are not available from other sources to finance saiG
", emergency r~pa i rs
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-f:~Read by the council of the City of Mounds view on the 23rd
..day_!of,;January, 1984. --
Read and passed by the council of the city of Mound~View
t:his'13th day of :February , 1984.
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