87-7367RRESOLUTION NO. 7367
RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM
PERMANENT IMPROVEMENT REVOLVING FUND
TO C.P.798 PURCHASE OF VOTING EQUIPMENT
TO PROVIDE INTERIM FINANCING OF SAID PROJECT
MIHEREAS, the Ordinance Code of the City of Richfield
provides that a Permanent Improvement Revolving Fund to be used
for the purpose of financing local improvements; and
WHEREAS, the ordinance states that the proceeds of said fund
may be used to provide interim financing of capital expenditures
for projects of the city by resolution of the city council; and
WHEREAS, it appears desirable to transfer funds to provide
interim financing for C.P.798 Purchase of Voting Equipment; and
WHEREAS, the Permanent Improvement Revolving Fund has
sufficient cash available to transfer necessary funds; and
WHEREAS, it was necessary to purchase the voting equipment
in 1987 and the funding to provide financing has been approved in
the 1988 Budget with a transfer of funds from The Special Revenue
Fund.
NOW, THEREFORE, BE IT RESOLVED by resolution of the city
council to authorize .the transfer of $50,000 from the Permanent
Improvement Revolving Fund to provide interim financing for the
purchase of voting equipment.
Passed by the City Council ofe C~i~~of Richfield,
Minnesota, this 12th day of Oche , 19 ~~~/ ~
n Ha~fjilton Mayor
ATTEST: ~ /
Thomas P. Ferber City Clerk