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<br />./ <br />_;-r' ",~ .. <br />,. '0" <br />,,_.,> <br /> <br />'-0' .,...... <br /> <br />"'~',~ <br /> <br />ORDINANCE NO. <br /> <br />507 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />J <br /> <br />AN ORDINANCE AMENDING CHAPTER 2 OF THE NEW BRIGHTON CITY CODE <br />BY THE ADDITION OF ARTICLE VI RELATING TO EXPENDITURES OF <br />REVENUES DERIVED FROM THE SALE OF LONG LAKE PARK LANDS. <br /> <br />-,'100 <br /> <br />"'-~,t.)o <br /> <br />The New Brighton City Council does ordain: <br /> <br />, <br /> <br />Section 2-147 Declaration of policy <br /> <br />The City Council has determined that revenues derived from <br />the sale of Long Lake Park lands, and the interest gener- <br />ated by the investment of those revenues shall be used in <br />a manner consistent with the purpose of the 1967 bond issue. <br /> <br />Section 2-148 Implementation <br /> <br />The principal shall be deposited in an interest earning <br />account, 420, and shall not be reduced. <br /> <br />Procedures established in this section may not be changed <br />except by a 4/5 vote of the Council. <br /> <br />The Park Board shall be given an opportunity to review <br />and comment on proposed changes to this ordinance. <br /> <br />The interest derived from the investment of these funds <br />be expended in the following manner: <br /> <br />The Park Improvement fund, #403, shall be reimbursed <br />for Long Lake Park related attorney fees charged to <br />that account. <br /> <br />The general fund shall be reimbursed from this fund <br />for expenses incurred in the operation and main- <br />tenance of Long Lake Regional Park. <br /> <br />Interest from this fund not expended in the pre- <br />viously described manner shall accrue to this fund <br />for use in the parks capital improvements program <br />as a first priority and Park and Recreation Depart- <br />ment operating expenses as a second priority. <br /> <br />Adopted this <br /> <br />14th day of <br /> <br />June <br /> <br />, 1983. <br /> <br />.. I <br />l ),1 fi r <br />_,J / L",,''A- _ _""",,_~ /,; /, ;;'''-.l.-??;:,~,-:;r1!fi1 <br />......' ~-..?<;- - -, ../;./'1 I. / ~, .' {;"""..... <br />GregbrYi;,> . Harcus <br />Mayor <br /> <br />ATTEST: <br /> <br />Egan <br /> <br />", <br />( i <br /> <br />'\"',-.", I /~~',~..~",......._..,., . ~ <br /> <br />J, mes F. Winke <br />~j!ty Manager <br /> <br /> <br />~ <br /> <br />Clerk <br />