HomeMy WebLinkAboutResolution 6216 (Not Adopted)
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RESOLUTION NO. 6216
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION A THORIZING INTERFUND LOANS FOR THE YEAR 2003
AND SETTING AN INTEREST RATE ON INTER-FUND LOANS FOR THE YEAR 2004
WHEREAS, various inter-fund loans existed on December 31,2002; and
WHEREAS, operations during 2003 required adjustments to the balances of
existing loans and the creation of some new loans; and
WHEREAS, there might be operating deficits in some TIF Funds during the year
2004 that will require additional inter-fund loans from the Community Fund.
NOW, THEREFORE BE IT RESOLVED, THAT the following inter-fund loans are
authorized as of December 31, 2003 and that they be authorized to continue through
2004:
Fund Extendina Loan Fund Receiving Loan Loan Amount
Community Fund TIF District #1 $815,951
Community Fund Golf Course Fund 1,330,808
Special Projects Fund Recycling Fund 398
Special Projects Fund MSA Construction Fund 115,260
BE IT FURTHER RESOLVED THAT additional loans of up to $362,483 may be
made from the Community Fund to any of the TIF District Funds, as needed, to cover
operating deficits during the year 2004.
BE IT FURTHER RESOLVED THAT all inter-fund loans shall pay interest at a
rate of 3.0% during the year 2004.
Adopted this 22nd day of March 2004.
ATTEST:
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Kurt Ulrich, City Administrator
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