HomeMy WebLinkAbout1999-058RESOLUTION N0.99- 5 g
APPROVING EXPENDITURES AND FUNDS CLOSING
AS OF DECEMBER 31, 1998
WHEREAS, the City Council of the City of Stillwater has previously approved the construction
of the Sports Complex, and
WHEREAS, the City Council has approved various change orders for the Sports Complex
construction, and
WHEREAS, it is and has been the intent of the City Council to utilize tax increment funds for
the Sports Complex construction, and
WHEREAS, the Sports Complex construction fund requires the various tax increment funding,
and
WHEREAS, the Infrastructure Reserve Fund and the Brown's Creek Fund are no longer
necessary, and
WHEREAS, it is in the best interest of the city to close the Infrastructure Reserve Fund and the
Brown's Creek Fund.
NOW, THEREFORE, be it resolved by the City Council of the City of Stillwater that the
following expenditures and fund closing be effective as of December 31, 1998:
Tax Increment District #1 $175,000
Tax Increment District #3 $175,000
Tax Increment District #4 $400,000
Tax Increment District #6 145 000
Total expenditures for
Sports Complex Construction $895,000
Infrastructure Reserve Fund and Brown's Creek Fund closed to the General Fund.
Adopted by the City Council this 2"d day of March, 1999. ,
ayor
City Clerk