09-10285rRESOLUTION NO. 10285
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 2009/Proposed 2010 Police and Fire Expenditures using PERA funds
2009R 2010
General Fund Operating Expenditures
Police and Fire 149,580 96,210
Adopted by the City Council of the City of Ri hfield, in esota this 8th day of
September 2009. ~
De ie Goettel, ayor
ATT ST:
Nancy Gibbs, ty Clerk