10-10446rRESOLUTION NO. 10446
RESOLUTION AUTHORIZING THE USE OF PUBLIC EMPLOYEES RETIREMENT
ASSOCIATION POLICE AND .FIRE REFUND FUND RESIDUAL ASSETS FOR
POLICE AND FIRE EXPENDITURES RELATED TO THE RICHfIELD MUNICIPAL
CENTER
WHEREAS, the City of Richfield received a refund of over funded residual assets
from the closed Public Employees Retirement Association (PERA) Police and Fire
Fund; and
WHEREAS, the City's approved plan for the funds, as amended, permits the City
Council to use principal and interest from the fund, in amounts as it may determine, for
the Richfield .Municipal Center; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Richfield, Minnesota as follows:
1. The expenditure of $7,749,493 plus 2010 interest earnings of the Police and
Fire PERA residual assets for the purpose of funding the police and fire portion of the
Richfield Municipal Center.
Adopted by the City Council of the City of Rich d, Minnesota this 23rd d y of
November 2010.
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Debbie Goettel, Mayor
-- ATTEST:
Nancy Gibbs ity Clerk