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P <br />NINTJTES OF THX SPZCIAL MEETING OF <br />EDINA VILLAGE COUNCIL, HELD IN VILLAGE <br />HALL, NONDAY, DECETBEX 30, 1946 <br />Neeting was held pursuant to due notice and call given by the president. <br />All members of the Council were present. <br />Utley offered the following Resolution and moved its adoption: <br />RSSOLUTIOIT FOEl THE 3STABLISHP.IENT OF A <br />PEBmIVT II-P3OW*l*BENT REVOLVING FUND I <br />M'HEBhS, the Council of the Village of Edina, on recommendation of its <br />Executive Officer and with the approval of the Office of the State Public <br />E,uaminer, deems it expedient to establish a Permanent Improvement Revolvhg <br />Fund for the purpose of clarifying GeneGal Fund operating expenditures, <br />BE IT RZSOLVED, that such Permanent Improvement Revolving Fund be, .and <br />BE IT FVRTHEX RESOLVED, that all special Assessment &mds,and all <br />special assessments and special assessment work in progress represented <br />by Capital Gutlay from the' General Fund, ire, and hereby is,. transferred <br />to said Permanent, Im73k.oyement Eevolving Fund; the General Fund to be <br />reinbursed for moneys 'expended on those projects for which certificates <br />of indebtedness will be sold., and such cash in excess of the initial <br />capital established for the Fund, <br />Motion to adopt the Resolution was seconded by Hawthorne, and on Rollcall <br />there were five ayes and no nays, as follows: Zonne, aye; Willson, aye; <br />Utley, aye; Havhhorne, aye; and Christopher, aye; and the i3esolution was <br />adopted. <br />hereby it, established as of December 31, 1946. <br />E <br />Utley offered the following Resolution and moved its adoption: <br />WSO'LUTION FOR THX ESTABLISHICENT OF A <br />kJORXI!\JG CAPITAL FUND <br />'.dHX-%!\3, the Council of the Villape of Edina deems it Tdvisable to <br />establish a PJorkin? Capital Fund, to provide moneys for the acquisition <br />of equiment on a use basis, to the point that such fund id11 become <br />self-supporting without periodic levies for capital assets of this nature, <br />BE IT RSSOLVZD that there be, and hereby is, established e Iforking <br />Canits1 Fund, in which is to be included the eauipent of the Public <br />cdorks, Public Safety (including fire and police) 2nd Fublic U-tilities <br />Denartnent s, -the Villa -e toolhouse md maintenance equipment, and general <br />Villare equipment, <br />33 IT iWRTml? RESOLWD that there be, and hereby is, estzblished sn <br />accountin.. procedme whereby such equipment 1611 be chwged io the various <br />depzrtment accounts according to schedule to be deterrmined by the Village <br />Engineer, and for which such departments will pay to the Xorking Capital <br />F&d wh2.tever fixed rate per un't of use -11,;r '32 ."ci~rmined, <br />E33 IT FURTHER &SOLVED that there be determined 2nd transferred from <br />the General Fund to said working Capital hnd, such amount as m3y be <br />considered necessiry for current working purposes. <br />Motion to adopt the Resolution was seconded by I~awthorne, and on Rollcall <br />there were five ayes and no nays, as follows: Zonne, aye; tiillson, aye; <br />Uti-ey, aye; Havhhome, aye; and Christopher, aye; and the Resolution was <br />adopted. a <br />ATT LST :