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Mr. Childs and 'the Finance. Director were urged:- to attend one of the <br /> meetings to explain .:'thee- new . program which the League intends to <br /> schedule in' the near , future at various metropolitan - sites . <br /> Councilmember Ranallo also suggested an amendment of the wording of <br /> Resolution 87-005 designating the official depository for City -funds in <br /> 1987 which would allow City funds which are - not deposited in the <br /> official depository to be invested in institutions other than banks. <br /> The Council accepted the change in wording . when they approved the <br /> resolution later in the agenda. <br /> COUNCIL INDICATES CHOICE OF NAME FOR NEW NBA BASKETBALL TEAM <br /> Mr. Childs had distributed copies of the January 7th letter which- <br /> sought the Council ' s vote on a name for a Minnesota - team if the. .NBA <br /> grants a franchise for such a team in April, 1987 . <br /> Council Action <br /> Motion by Ranallo, seconded by Enrooth to indicate the Council prefers <br /> the name "Timberwolves" for the new NBA basketball team if such a <br /> franchise is granted. <br /> Motion carried unanimously. <br /> City Seeking Applicants for Committee Positions • <br /> Mr. Childs advised that he- had reported two openings on the Chemical <br /> Abuse Awareness Advisory Committee and another on the Eastside Hennepin <br /> County Community Service Council in the "Newsletter" which was <br /> scheduled to go out with the water bills that week. He wanted the <br /> Council and Bulletin- and Northeaster newswriters to also . be .aware of <br /> the openings. His ' suggestion that he contact the unsuccessful <br /> candidates for membership on the Planning. Commission met with Council . <br /> approval. <br /> Reduction of Liquor Funds Transfer Approved <br /> Mr. Childs had distributed copies of his January 12th memorandum <br /> recommending $250 ,000 rather than the $300 ,000 projected in the 1986 <br /> budget be transferred from the Liquor Fund to the General Fund. As his <br /> memorandum had advised, the . City Manager reiterated that no more was <br /> needed to balance. the General Fund and by retaining $50 ,000 for <br /> operating funds in the Liquor Fund a more: - realis,t.ic. ,balance..between ... . <br /> revenues and f.und tr'aiisfers would 'be maintained. <br /> Coundilmember- Rarial-lo 'agreed that there was no need to deplete the <br /> Liquo'r , Fund J ust .when there are more operating costs connected to new <br /> liquor op erations�"that, the .$50 ,000 could ' be invested until it is <br /> needed. <br />