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<br />~, <br /> <br />~. <br /> <br />~ <br /> <br />RESOLUTION NO 92-052 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION TO REAPPROPRIATE RESERVES <br /> <br />Whereas, in 1988, the General Fund received $1,510,000 of the <br />Environmental Restoration settlement; <br />Whereas, the purpose of this award was to reimburse the <br />General Fund for direct and indirect costs associated with <br />this matter; <br />Whereas, the preferred method of local accounting prescribes <br />that general reserves be kept at a minimum; <br /> <br />Now, therefore be it resolved that: <br /> <br />1. A transfer of $1,510,000 shall be made from the General <br />Fund to the Environmental Restoration Fund. <br />2. The interest earnings associated with this action shall <br />continue to be appropriated to the General Fund on an annual <br />basis. <br />3. The principal amount of the reversal shall continue to be <br />set aside so as to perpetuate the appropriation of the <br />interest earnings. <br />4. The 1991 & 1992 Annual Budget shall be amended accordingly <br />to accommodate this resolution. <br />5. This resolution shall be effective December 31, 1991. <br /> <br />Adopted this 26th day of May, 1992. <br /> <br />~ <br />Robert J. e, Mayor <br /> <br /> <br />ATTEST: <br /> <br /> <br />. F23:envirres <br />