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<br />RESOLurION NO. R 7 - 1 q <br /> <br />STATE OF MINNEsarA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGH'IDN <br /> <br />RESOLurION AUTIDRIZING FINANCING FOR THE PRO.JE:::I' DEVELOPMENT FUND <br /> <br />vfuereas, the City maintains the Project Developrrent Fund #650 <br />for the purpose of accounting for the initial costs of construction <br />projects; <br /> <br />. <br /> <br />"<t <br /> <br />Whereas, if the project is ordered then the costs in the <br />Project Development Fund are transferred to the penranent construction <br />fund; <br /> <br />Whereas, if the project is not ordered then the costs nust be <br />paid by another source; <br /> <br />Whereas, the preferred source of finance in such instances <br />is the Closed Bond Fund; <br /> <br />Now, therefore be it resolved that a transfer of $7886.42 <br />shall be rrade from the Closed Bond F\mdto the Project Developnent <br />Fund and that the transfer shall be effective December 31, 1986. <br /> <br />Adopted this lOth day of February ,1987. <br /> <br />A'ITEST: <br /> <br /> <br />~ <br />,. ,~. ~--- <br />.__,-r;,;/"""J"q,~' <br />, City Manager <br /> <br />