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<br />:, <br /> <br />... '..- ":~ <br /> <br />RESOLUTION NO. <br /> <br />87-38 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUTHORIZING CLOSING OF THE REVENUE SHARING FUND #203 <br /> <br />Whereas, the City has received entitlements of Federal Revenue <br />Sharing; <br /> <br />Whereas, the annual entitlement has been about $75,000; <br /> <br />Whereas, the entitlement has been used to reduce the need <br />for local property taxes; <br /> <br />Whereas, the Federal Revenue Sharing Program has not been <br />renewed; <br /> <br />Whereas, by discontinuing the Federal Revenue Sharing Program <br />local property taxes have had to be increased; <br /> <br />Whereas, in administering the Federal Revenue Sharing Program <br />the City had to maintain a separate fund; <br /> <br />Whereas, the need for the fund no longer exists; <br /> <br />Now, therefore be it resolved that the Federal Revenue Sharing <br />Fund #203 shall be closed and all assets, liabilities and <br />fund balance shall be transferred to the General Fund. <br /> <br />Adopted this <br /> <br />14th <br /> <br />day of <br /> <br />ADril. 1987 <br /> <br />ATTEST: <br /> <br />~~. <br /> <br /> <br /> <br />Henry D <br />