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Res. #12 -0, <br /> A RESOLUTION AUTHORIZING THE CREATION OF <br /> FUND NUMBER 401 <br /> WHEREAS, the Council has determined that it will implement a long -term street <br /> maintenance program, and <br /> WHEREAS, the street maintenance program will require on -going tax levies to support <br /> the program, and <br /> WHEREAS, the Council desires to carry over from year to year, any unspent funds and <br /> WHEREAS, the best means of accounting for expenditures of revenue and expenses for <br /> the street maintenance program is through a revolving improvement fund. <br /> NOW, THERFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF CENTERVILLE, MINNESOTA: <br /> 1. The Finance Director shall create a new fund number 401 identified as Revolving <br /> Street Fund. <br /> 2. The Finance Director is hereby authorized to transfer capital improvement funds <br /> for streets remaining in the General Fund for the year 2011, in the amount of <br /> $26,100 to the new fund. This transfer shall be recorded prior to closing the <br /> books on the 2011 budget. <br /> Adopted by the City Council this 7 day of January, 2012. <br /> <br /> Tom Wilharber, Mayor <br /> . Teresa Bender, Clerk <br />