RES 1979-143 - 00006842246
RESOLUTION NO. 143 - 1979
AUTHORIZING THE TRANSFER OF FUNDS FROM THE GENERAL FUND AND
THE PUBLIC UTILITY FUND TO THE GARAGE CONSTRUCTION FUND
WHEREAS the City Council has previously awarded bids for and authorized the
construction of an addition to the City Garage, and
WHEREAS this addition is now complete, and
WHEREAS this addition is now complete, and _
WHEREAS THE TRANSFER OF FUNDS FROM THE General Fund and the Public Utility
Fund are necessary to finance the Garage Addition,
NOW, THEREFORE, BE IT RESOLVED that a transfer of $26,700 from the General
Fund to the Garage Construction Fund is hereby authorized, and
BE IT FURTHER RESOLVED that a permanent transfer of $17,540 from the Public
Utility Fund to the Garage Construction Fund is hereby authorized, and
BE IT FURTHER RESOLVED that a transfer of $41,313 from the Public Utility
Fund to the Garage Construction Fund is hereby authorized. Such transfer
shall be in the form of a loan which will be repaid over a three -year period
according to the following schedule:
Year Principal Interest Total
1980 $12,725 $3,305 $16,030
1981 13,743 2,287 16,030
1982 14,845 1,188 16,033
$41,313 $6,780 $48,093
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 3RD DAY
OF DECEMBER, 1979.
Gv - __n
WILLIAM J. NEE YOR
ATTEST:
CITY CLERK - MARVIN C. BRUNSELL
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