HomeMy WebLinkAboutResolution 5451
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RESOLtlTIO~ 1\0. 5451
Authorizing the establishment of a Park Dedication Fund and transferring in various funds to
initially establish said 'Fund.
CITY OF MOUNDS VIEW
County of Ramsey
State of Minnesota
WHEREAS, the City has received various funds for park land dedication which are presently recorded
and accounted for in the General Fund;
WHEREAS, the City has little land remaining which will be required to pay park land dedication fee to
the City, thereby limiting funds to be received in the future; and
\-VHEREAS, the City has contracted with the YMC A to manage its recreation programming and funds
rcmain in the City's Recreation Special Revenue Fund.
I\OW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds Vic\v that City
authorizes the establishment ofa Park Dedication Fund, with the interest earned on such fund to be used
tl.)!" capital improvements to the City's park and recreation facilities.
BE IT FURTHER RESOLVED that funds in General Fund Park Dedication Reserve account and in
the Recreation Special Revenue Fund are hereby transfened to the Park Dedication Fund, and the
General Fund Park Dedication Reserve account and Recreation Special Revenue Pund are to be closed.
BE IT FURTHER RESOLVED that the efICctive date for this resolution is for the year ending
December 31, 1999.
Said resolution was declared to have been duly passed and adopted this 12th day of June, 2000.
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City Administrator