RES 1994-64 - 00003084OO
RESOLUTION NO. 64 - 1994
A RESOLUTION ESTABLISHING THE IMORMATION SYSTEMS INTERNAL SERVICE
FUND, AUTHORIZING A CASH TRANSFER TO THIS FUND AND TRANSFERRING
THE OUTSTANDING SPECIAL ASSESSMENTS FROM THE 1982 IMPROVEMENT BOND
FUND AND THE 1986 CROSSOVER BOND FUND TO THE CLOSED DEBT SERVICE
FUND
WHEREAS, the City of Fridley established the 1982 Improvement Bond Debt
Service Fund and the 1986 Crossover Bond Debt Service Fund for the servicing
of debt issued for public improvements; and
WHEREAS, the City exercised the call provisions contained in both bond issues
resulting in the payment of all outstanding bonds on February 1, 1994; and
WHEREAS, the City desires to establish an Information Systems Internal Service
Fund to account for and finance the acquisition and replacement of computer
and computer related equipment;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Fridley
hereby establishes the Information Systems Internal Service Fund to acquire
and charge to the appropriate department for all computer related capital
equipment.
' BE IT FURTHER RESOLVED that the City Council authorizes the transfer of
$383,691.37 and $428,593.13 from the Improvement Bonds of 1982 Debt Service
Fund and the Crossover Bonds of 1986 Debt Service Fund respectively to the
Information Systems Internal Service Fund.
BE IT STILL FURTHER RESOLVED that the City Council authorizes the transfer of
all remaining assessments and all interest earnings for 1994 from the two
aforementioned Debt Service Funds to the Closed Bond Debt Service Fund.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 1ST DAY OF
AUGUST, 1994.
WAS
WILLIAM J. NE MAYOR
ATTEST:
n
' WILLIAM A. CHAMPA - CITY [CLERK