Res 2000-25 RESOLUTION NO. 25 -2000
A RESOLUTION ESTABLISHING RESTRICTIVE ACCOUNTS FOR EXCESS
POLICE PENSION RESIDUAL ASSETS AND ADOPTING A PLAN FOR THE
EXPENDITURE OF SUCH ASSETS
Whereas, Minnesota Law 1999 Chapter 222, titled Omnibus Retirement Bill, has made
substantial changes to public employee pensions in Minnesota, including the total merger of
Fridley Police Pension Plan; and
Whereas, one of these changes permits the return of the excess funding from the police
consolidation account to the local jurisdiction; and
Whereas, the portion of excess funding available for return to the City of Fridley is
approximately$2,100,000,
Whereas, the City of Fridley has held an advertised public hearing on March 6, 2000, at which
public hearing the proposed use of the police residual assets were discussed and a spending plan
approved.
NOW THEREFORE BE IT RESOLVED that the City of Fridley, Minnesota, adopts the
following plan for the receipt and use of these excess fund assets.
1. The excess funding derived from the City of Fridley Police Consolidation
Account may be used for providing extended funding for all police personnel
originally funded through federal grants.
2 The excess funds may also be used to assist the Police Department in the funding
of both Capital Outlay and Information Technology areas.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 6TH
DAY OF MARCH 2000.
N C �. J RG. N�5��N,MAYOR
ATTEST: e9/tt��i1�„"fGGjjjyiyll///... (2XJ
DEBRA A. SKOGEN, C CLERK
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