07-9987r
RESOLUTION NO. 9987
RESOLUTION AUTHORIZING USE OF PUBLIC EMPLOYEES RETIREMENT
ASSOCIATION POLICE AND FIRE FUND REFUND INTEREST EARNINGS FOR
CERTAIN POLICE AND FIRE EXPENDITURES
WHEREAS, the City of Richfield received a refund of overfunded residual assets
from the closed Public Employees Retirement Association (PERA) Police and Fire Fund;
and
WHEREAS, the City adopted a plan where only interest earnings on the principal of
the residual assets are to be used for eligible expenditures; and
WHEREAS, all eligible expenditures be restricted to Police and Fire expenditures;
and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield,
Minnesota as follows:
1. Revised 2007/Proposed 2008 Police and Fire Expenditures using PERA funds
General Fund Operatinq Expenditures
Police and Fire
2007R
394.400
2008
443,250
Adopted by the City Council of the City of RichfieJ9, Minnesota this 11th day of
September 2007. .\ . ..~\. ;; 7 ~. . f
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De bie Goettel, ayor
ATTEST: