Resolution No. 2021-119 Repealing 2021-115/Interfund Loan
Resolution No. 2021-119
Repealing Resolution No. 2021-15 in its Entirety and Cancelling an Interfund Loan
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for the 53 Avenue Lift Station Improvement Project
Whereas, on February 25, 2019, the Fridley City Council (Council) authorized the creation of a
Community Investment Fund – No. 450 (CI Fund) to support capital costs associated with the parks
and public utilities maintained by the City, effective December 31, 2018; and
Whereas, Section 7.10 of the Fridley City Charter requires the Council to adopt a resolution
stipulating the structure and terms of any interfund loan; and
Whereas, on May 26, 2020 the Council adopted Resolution No. 2020-23, which approved an
Interfund Loan (Loan) from the CI Fund to the Sanitary Sewer Utility Fund – No. 602 (Utility Fund)
to support the design, engineering, construction, utility extensions and other reasonable expenses
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related to the 53 Avenue Lift Station Improvement Project, Project No. 20–519; and
Whereas, the Utility Fund had sufficient reserves to pay for the entire project out of fund balance;
and
Whereas, on November 22, 2021 the Council approved Resolution No. 2021-115, cancelling an
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interfund loan for the 53 Avenue Lift Station; and
Whereas, after passage staff found an administrative error in the resolution regarding the loan’s
issuance fee, which should be $10,080; and
Whereas, the Utility Fund will pay a loan issuance fee to the Community Investment Fund (CIF
Fund) in the amount of $10,080 to account for staff time to initiate this loan.
Now, therefore be it resolved, that the City Council of the City of Fridley hereby repeals
Resolution No. 2021-115 in its entirety, and approves Resolution No. 2021-119, Cancelling the
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Interfund Loan for the 53 Avenue Lift Station Improvement Project.
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Passed and adopted by the City Council of the City of Fridley this 13 day of December,
2021.
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Scott J. Lund – Mayor
Attest:
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Melissa Moore – City Clerk