Laserfiche WebLink
<br />RESOLUTION NO. 05-099 <br />State of Minnesota <br />County of Ramsey <br />City of New Brighton <br /> <br />SOLUTION AUTHORIZING THE CLOSING OF THE ENVIRONMENTAL <br />STORA TION FUND <br /> <br /> <br />ereas, the City established the Environmental Restoration Fund to assist in restoration work <br />lating to the City's water treatment facility and water distribution system with monies from a <br />igation settlement with the U.S. Army; and <br /> <br />ereas, these settlement monies have been committed to assist in retiring the bonds associated <br />ith rebuilding the water system and to provide supplemental fmancing for debt service in lieu of <br />ditional tax levies; and <br /> <br />ereas, the bonds associated with rebuilding the water system were fully retired by 1996; and <br /> <br />hereas, the water distribution system capital projects were completed by 1996; and <br /> <br />ereas, the U.S. Army has deposited monies with the City to be used to operate the water <br />eatment facilities for an indefmite period of time; and <br /> <br />ereas, the Environmental Restoration Fund has satisfied its original purpose and no longer <br />eeds to exist as a separate fund; and <br /> <br />ereas, the Community Reinvestment Fund has been established for future community projects; <br />d <br /> <br />ereas, the Community Reinvestment Fund, with the assets from the Environmental Restoration <br />und, will continue to provide supplemental fmancing for debt service in lieu of additional tax <br />evies. <br /> <br />ow, therefore, be it resolved that the Environmental Restoration Fund shall be closed and all <br />sets and liabilities shall be transferred into the Community Reinvestment Fund as of December <br />1,2005. <br /> <br />dopted this 22nd day of November, 2005 <br /> <br />~Jt.~~ <br /> <br />Steve Larson, ayor <br /> <br /> <br />ATTEST: <br />../I)' '" <"' ;;/~I >Ji"': .. <br />,/lY 1'/ ;/It?(~ tr", /i fit Ct'?~ <br /> <br />. ~ , <br />Daniel A. Maiers, Director of Finance <br />