1965-3525r~~~
RESOLUTION NO. 3525
RESOLUTION AUTHORIZING TEMPORARY TRANSFER OF $10,000
FROM ESCROW FUND TO THE GENERAL PUND
WHEREAS, the sum of $27,808 has been accumulated in the Escrow Fund, such sum
being the proceeds of a payment made by the City of Bloomington to the
City of Richfield for the improvement of Oliver Avenue, and
WHEREAS, the sum of $17,500 has been transferred to the General Fund to purchase
fire equipment during the year 1966 as a capital outlay expenditure on
behalf of the fire department, and
WHEREAS, it appears necessary and desirable to use an additional $10,000 for
general purposes, and
Wf-TEREAS, it appears that it will not be necessary to use all of the aforementioned
$27,808 for the improvement of Oliver Avenue during the year 1966'
NOW THEREFORE, BE IT RESOLVED by the city council of the city of Richfield,
Minnesota, as follows:
1. On the first working day of January 1966 the Finance Director is
hereby authorized and directed to transfer the sum of $10,000 from
the Escrow Fund to the General Fund to provide additional funds
for general purposes. '
2. The transfer of such funds shall be temporary, and such $10,000
shall be returned to the Escrow Fund for the improvement of
Oliver Avenue., when such funds become available in the General
Fund, pursuant to later resolution of this council. It is contem-
plated that such repayment will be authorized in connection with
adoption of the 1967 budget of the city.
Passed by the council of the City of Richfield this 11th day of October, 1965.
W • ~~-~-~
taniey W. Olso , Mayor
ATTBS~T:
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Edw. J. Moll ,Clerk-Treas.