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Mr. Childs and the. Finance Director we : urged to attend one of the <br /> meetings, to explain' the new program .-rich. 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 )f the January 7th letter which <br /> sought the .Council' s vote on a name fc a Minnesota team if the NBA <br /> grants a franchise for such .a team in -)ril, 1987 . <br /> Council Action <br /> Motion by Ranallo, seconded by Enroot-, to indicate the ' Council prefers <br /> the name "Timberwolves" for the new '.TBA 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 /> e operating 'funds- . in the Liquor Fund a. more realist.ic 'balance between , <br /> revenues--and fund transfers would be maintained.. <br /> Councilmember Ranallo agreed that there " was no-' need ,. to deplete .;the . <br /> Liquor Fund -just when ,. there are more operating costs connected to new' <br /> liquor operations that the ' $50 ,000 could be invested until it is <br /> needed. <br />