HomeMy WebLinkAbout02-137 - ADMIN Resolution - City Council - 2002/12/16RESOLUTION NO. 02-137
RESOLUTION AURTHORIZING A TRANSFER FROM THE
WATER ENTERPEISE FUND TO THE
ECONOMIC DEVELOPMENT AUTHORITY DEVELOPMENT FUND
WHEREAS. Economic Development Authonty of St. Louis Park transferred $4,871,000
from the Development Fund to the Water Enterpnse fund in 1997;
WHEREAS: The transfer from 1997 has accumulated interest through December 31,
2001 of $1,490,925;
WHEREAS: the City has determined it is necessary to transfer the principal and
accumulated interest to the Development Fund
WHEREAS:: an additional transfer of the 2002 interest earned will be transferred in 2003
NOW, THEREFORE, be it resolved by the City Council of the City of St. Louis Park that
$6,361,825 is to be transferred from the Water Enterprise Fund to the Development Fund pnor to
December 31, 2002 and the 2002 interest earned is to be transferred in 2003.
Reviewed for Administration:
//
City Manager
Attest:
Cy Clerk
Adopted by the City Council December 16, 2002