1956-1130rRssoLUTION N0.
RESOLUTION ESTABLIS%ING THB VILLAGE PR0J13CT NO.
328 FUND; PROVIDING RUTS S FOR ITS 0PERATI0~1 AND AUTHOR-
IZING TRANSFER OP FtTNDSS
BB IT RBSOLVBD By the Village Council of the Village of Richfield,
Minnesota, as foliowse
1. There is hereby established a fund to be known aud.desigriated as
Village Project No. 328 Pund.
2, The purpose of this fund shall be the financing of the 1956
village-wide oiling program.
3. That all expenditures7previousiy made for the benefit of the
1956 village-wide oiling program shall be charged against this fund.
4. That all future expenditures made for the benefit of the 1956
village wide oiling program shall be char@~ed against this fuad.
S, That,. upon completion of the 1956 villA,ge-wide oiling program.
and after the final expenditures have been made, all assets and liabiliW
ties of the Village Project No. 328 Fund shaii be transferred to the
Permanent Improvement Revolving Fund,
6. That it is anticipated-that the cost of the 1956 village-wide
oiling program will be approximately $140,000.00 of which amount
$60,000.00 will be furnished by a temporary transfer from the Permanent
Improvement Revolving Pund and $80,000.00 will be £urnished by the
Liquor Store Fund.,
?, That transfers of funds are hereby authorized at such times
as funds are necessary in the Village Project Igo, 338 Pund and when
funds are available in the Permanent Improvement Revolving Pund and
Liquox Store Pund, provided however, that the total of such transfers
shaii not exceed the amounts specified in the preceding paragraph with-~
out further action by the Village Council..
Passed bq the Village Council of the Village of Richfield this
25th day of June, 195$«
ATTEST:
Paul .Haug „ iliage Clerk
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