HomeMy WebLinkAbout19-016CITY OF LAKEVILLE
RESOLUTION NO. 19-16
RESOLUTION CLOSING HERITAGE CENTER CAPITAL PROJECT FUND AND
FORGIVING THE REPAYMENT OF A LOAN TO THE LIQUOR FUND
WHEREAS, the Heritage Center Capital Project Fund 4084 was established in 2011 in
conjunction with the renovation of the former police station into a senior center/historical
society facility; and
WHEREAS, Funding for the project was provided by various sources including the Building
Fund ($377,000) and interim financing from the Liquor Fund ($290,843); and
WHEREAS, the Heritage Center did raise sufficient funds to repay the loan from Liquor Fund;
and
WHEREAS, as part of the 2016 budget preparation, the loan forgiveness was presented to the
City Council and accepted as a levy reducing option for the Building Fund, but was not formally
forgiven nor the fund closed.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lakeville,
Minnesota, as follows:
1) The recitals set forth above are incorporated herein;
2) The loan from the Liquor Fund to the Heritage Center Capital Project Fund is forgiven;
3) The Heritage Center Capital Project Fund 4084 is closed, and all residual balances
transferred to the Building Fund 4000, effective December 31, 2018.
ADOPTED by the Lakeville City Council this 19th day of February 2019
Douglas P. Anderson, Mayor
Charlene Friedges, City Clery