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<br /> <br />- '~., ~;.:..-" <br /> <br /> <br /> <br /> <br />.... ,n <br />..1, <br />II <br />Ii,,,,., <br />. if' <br /> <br />" <br /> <br />. <br /> <br />I, <br /> <br />RESOLUTION NO. 84-47 <br /> <br />., <br />.1 <br />li <br /> <br />STATE OF MINNESOTA. <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />.. <br />" <br /> <br />j. <br />i <br />RESOLUTION ESTABLISHING INTER-FUND LOAN FOR WATER AND SEWER FUND~ <br /> <br />WHJ,'::REAS,the most recent rate study indicates that there I <br />may be times when the cash of the Water and Se!werF'unds is in a I <br />I <br />defic it position i I <br /> <br />;'<' <br />j'~ <br />:1 <br /> <br />WHER.EAS, the Ci"ty has adopted an inter'-;'fund loan policy <br />I; whi<;h provides that a loan };:le made arid inte+,est charged whenever , <br />Ua defioit shall occuri i <br />!: I <br />;: WHEREAS, in administering this inter-fund loan it is in the .1.... <br />:i best interest of the city that some special c'onditions applYi <br />\! i <br />I <br />;: NOW THEREFORE BE 1':1;' RESOLVED that in administering an inter...,! <br />fund loan for the Water and.Sewer Funds that the fOllOWing! <br />special conditions shall apply: I <br />I <br /> <br />1. the cash available in the combined Water and Sewer Fund <br />shall be the first 'monies committed to finance.the operation of <br />either service. <br /> <br />2. if the ca'sh"availab.1.e <br />monies shall be proVided'frQItl <br /> <br />I <br />I <br /> <br />not adequate, then! <br />Fund. <br /> <br />~ ; <br />if <br /> <br />:Brom i~ent#~^is <br />the C'lose't!;;,Bbhd <br />i~:.. ...., <br /> <br />3. sO as not to deplete th~~cash reserves of general' <br />operating f,unds, the.antourtt .of.the in:ter,,"'fuhd,' loan shall not <br />exceed the balance in the plO$ed Bon~,Fund w~th'mt prior <br />Council approvai~". <br /> <br />il <br /> <br />5. the terms of this Resolution snall become effective <br />May 1, 1984. <br /> <br />\ <br />I <br />I <br />I <br /> <br />. hi <br />w~~ I <br />I <br />i <br />I <br />I <br /> <br />I <br /> <br />I <br />! <br />I <br />! <br />! <br />\ <br /> <br />'I <br />I, <br />.Ii <br />I; <br />11 <br />I! <br />;1 <br /> <br />4. interest 'shall be 'chargedon'the · loan in accordance <br />the inter-fund loan pOli.cyact"tiPtedpur's'uant to Resolut ~on <br />No. 8:4"'"'.46 In addition, interest shall be charged. on the <br />intra-fund use of'. cash Bp peltmit.ted. 1;>Y. item #1 above. <br /> <br />.1 <br />" <br /> <br />!! <br />~ ! <br /> <br />\,i <br />" <br /> <br /> <br />!: <br />; ~ <br />" <br />I <br /> <br />Ad6pted.tp.is 10th day of <br />April,:t9B4 <br /> <br />i' <br />I. <br />'1'1 <br />01 <br />Ii <br /> <br />.., /} <br /> <br />Henry <br /> <br /> <br /> <br />~ : <br /> <br />'\ <br />ret A. Egan <br />Direqtor)City Clerk <br /> <br /> <br />II <br />I, <br />It <br />" <br />Ii <br />I' <br />il <br />I' <br />oj <br />\, <br /> <br />i <br />! <br /> <br />;,: <br />! <br />