2004-60
.
.
.
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE:
AU2ust 23. 2004
RESOLUTION NO:
2004-60
MOTION BY:
Peterson
SECONDED BY:
A votte
Resolution Authorizing TIF Fund Transfers
A. WHEREAS, the City Council of the City of Chanhassen, Minnesota, has determined that it is
appropriate to transfer non-increment revenues originally transferred into the Downtown Tax
Increment District using other city revenues back to general city use; and
B. WHEREAS, these funds are needed to pay off the deficits created in several funds which were
anticipated to be paid with excess increments from the Downtown TIF, which did not occur
because of changes in property tax class rates; and
C. WHEREAS, when the deficits are cured in funds 344, 468, and 347 they will have completed
their usefulness;
NOW, THEREFORE, BE IT RESOLVED by the City Council of Chanhassen, Minnesota, as follows:
1.
Authorization: Findings. The City Council hereby authorizes the Finance Director to transfer the
following balances as shown as of February 1,2004 and close any remaining assessments to
Fund 300:
Transfer from:
460 Downtown Tax Increment District
800 Historic Preservation Trust
800 Historic Preservation Trust
800 Historic Preservation Trust
Transfer to:
800 Historic Preservation Trust
344 19960 GO Improvement Bonds
468 McGlynn TIF District
347 19980 Tax Increment Refunding Bonds
Amount
2,213,264.00
4,358,946.29
1,136,877.78
1,515,647.35
Passed and adopted by the Chanhassen City Council this 23rd day of August, 2004.
ATTEST:
YES
NO
ABSENT
Ayotte
Furlong
Lundquist
Peterson