Laserfiche WebLink
<br />/// <br /> <br /> <br />Ii <br />~ ! <br />ij <br />II <br />lj <br />, i! <br />"'l' <br />. ii <br />i, <br />I' <br />11 <br />I. <br />ii <br />:i <br />" ~ <br />jJ.' <br />i! <br />ii <br />Ii <br />'I <br />!) <br />Ii <br />11 <br />j; <br />Ii <br />i: <br />11 <br /> <br /> <br />i <br />:/ <br />'i <br />It <br />Ii <br />Ii <br />11 <br />I: <br />I[ <br />j: <br />,I <br />! <br /> <br />, <br />I <br />I <br />I <br />i <br />I <br /> <br />i <br />I <br />I <br />I <br />I <br />RESOLUTION EBTABLI~,a,ING THE ?'ER~S" FO~, AN INTER-FUND LOAN, POLiICY I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I , <br />I <br /> <br />"' <br /> <br />.~ <br /> <br />RESOLU1'ION NO. <br /> <br />84-46, <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />" <br />i <br />.!' <br />I <br /> <br />WHEREAS, the+~ are, OC~,q sions whE;P th~\(::a~h supply for a <br />particular service;may be in a :defidi.:t :,position. <br /> <br />WHEREAS, to permit the cash deficit to persist is not in <br />the best inters,st of ,the city nor dQes. it xecognize the actual <br />cost of such service: <br /> <br />.,j, <br /> <br />Ii <br />il <br />'.' <br />Ii <br />j' <br />f! <br />Ii <br /> <br />NOW'TH,EREFORE BE IT ~~SO~:VED by the City ,Council of New <br />Brighton that. an intei--'-funQ.,loan p61icyshalV be established <br />and the terms oft.he pOlicy. shall be: <br /> <br />'Ii <br /> <br />1. whenever the cash of a service is depleted then an <br />inter-fund loan shall occur. The loan shall be from the day <br />the deficit first occurs throug1) sUCh time as the service has <br />replenished its own cash supply. <br /> <br />!! <br />it <br />,I <br />H <br />i! <br />it <br />II <br /> <br />2. . the loan shall be drawn on'thepfoportiQnate amount <br />of the cash available from all funds unless at-hat "provisions <br />are specified. <br /> <br />; <br />I <br />I <br />I <br />I <br />.. , <br />3. interest shall be charged on the loan. The1nterest i <br />rate shall be two percent above the current, average'rate then l <br />b~ing paid for a One year certificate of deposit. Interest shaUl <br />be charged from the day the deficit first occu~s through the I <br />day when the l()an is repa.id. I ' <br /> <br />I <br />I <br />I <br />j <br />I <br />I <br />i <br />! <br /> <br />4. theinte:r-fund loan'po~:i.cy provided fot' by this <br />Resolution shall become e~fectiVe May 1, 1984. <br /> <br />,! <br />.! <br />t.j <br />'i <br /> <br /> <br />Adopted this ,10th day of <br />April, 1984. <br /> <br />:: ATTEST: <br /> <br />:: \-.-~ ,- <br /> <br />i' ~A.Elgan <br />:~ Financ'e nire.Gtor/city Clerk <br />". <br />" <br />.lj <br />I: <br />!, <br /> <br />" <br />Ii <br />il <br />;1 <br />Ii <br />II <br />H <br />I' <br />'Ii <br />i' <br />I: <br /><d <br />!. <br /> <br />I <br />I <br />I <br />i <br />( <br />