1970-4455r~ ~
RESOLUTION No. 4455
RESOLUTION AUTHORIZING REVISION OF 1970 BUDGET OF VARIOUS
DEPARTMENTS
WHEREAS, Resolution No. 4257, appropriated funds for persona. services, other
expenses and capital outlays for each department of the city for the year 1970; and,
WHEREAS, Resolution Nos, 4300, 4323, 4339 and 4377 made appropriations from the
1970 Contingency Account to various departments; and,
WHEREAS, Resolution No. 4441 has determined that the following bonds are subject
to redemption and prepayment: Improvement Bonds of 1949, Improvement Bonds of 1951;.
Improvement Bonds of 1953, Series A and B; Improvement Bonds of 1954, Series B; and
Improvement Bonds of 1955 which are subject to redemption and prepayment on June 1,
1971, and
WHEREAS, said resolution authorized and directed the .City Manager to take such
steps as may be necessary to redeem such bonds, and
WHEREAS, the remaining ad. valorem tax levies, which had been made to pay portions
of the principal an.d~interest on the above mentioned issues, collect~atble in the year
1971 and thereafter, have been cancelled; and
WHEREAS, the City Charter, Chapter 7, Section 7.09, gives the council authority
to transfer unencumbered appropriation balances from one office, department pr agency
to another within the same fund at the request of the manager; and,
WHEREAS, the City Manager has requested a revision of the 1970 budget appropri-
ations in accordance with Charter provisions and as detailed in the proposed 1971 budget
document;
NOW, THEREFORE, BE IT RESOLVED by the city council of the City of Richfield as
follows:
Section 1. That the 1970 appropriations for each department of the general fund
be revised as follows:
GENERAL FUND
Mayor-Council
Executive
Legal
Finance
Flanning
Police
Fire
Civil Defense
Public Works
Health
Parks & Recreation
Unallocated
$ 181 Decrease
4,497 Increase
2,089 Increase
20,334 Increase
631 Increase
9,986 Decrease
17,838 Decrease
1,125 Decrease
397 Decrease
252 Increase
2,598 Increase
101,603 Increase
Total General Fund $102,477 Increase.
:.)
Resolution (cons,)
- 2 -
Section 2. It is hereby determined that there are sufficient monies in the
Sinking Fund for the aforementioned bond issues to pay the principal, interest, and
any debt redemption premiums on all of the remaining bonds of all such bond issues.
Tt is further determined that there are surpluses in such Sinking Fund in excess o~
the amounts needed for such principal, interest, and premiums, and in excess of
amounts previously transferred from such Sinking Fund to the General Fund in the
amount of at least $135,000,
Section 3. The aforementioned bond stinking Fund surpluses, to the extent of
$135,000, are hereby transferred to the General Fund.
Section 4. Estimated gross revenue of the City of Richfield from all sources, as
the same are more fully detailed in the City Manager's official copy of the ]:971
budget,_are_hereby revisedas__follows:
FUND
General Fund
AMOUNT
$167,253
S;A@0- Increase
Section 5. The City has included in its capital improvement budget an appro-
priation for the construction of city hall remodeling and has appropriated amounts
totaling $60,000 from the Special Revenue Fund of the City to provide part of the
financing for the making of such improvement, There is hereby cre~`taBd a special
account which shall be known as City Project No. 624, the City Ha11 Remodeling Con-
struction Fund. The proceeds of such appropriations from the Special Revenue Fund,
as well as any other monies appropriated from other sources by the municipality, shall
be paid into such City Ha11 Remodeling Construction Fund, and it shall be used to
defray the expenses of constructing the remodeling improvement. All contracts let and
all other expenses. incurred in connection with the making of such improvement shall
be payable-out of the City Hall Remodeling Construction Fund.
Section 6, ~y reason of the transfer of the aforementioned sinking fund surpluses,
it is hereby determined that the actual receipts of the City in the General Fund exceed
the budget estimates of receipts for such fund for the year 19.70 by the amount of.at
least $135_,000, The sum of $35,000 is hereby appropriated from the General Fund to the
City Ha11 Remodeling Construction Fund, The sum of $100,000 is hereby appropriated
and transferred from the General Fund to the Central Garage and Equipment Fund as a
partial funding of its working capital, The capital improvement budget and the general
fund budget of the City for the year 1970 are hereby amended to the extent provided in
this resolution,
Section 7. That the manager and finance director bring. into effect the provisions
of this resolution.
Passed by the City Council of the City of Richfield this 9th day of October, 19.70.
Attest:
Thomas J. ran City Clerk
/i'
-- W
tanley W, Olson Mayor'