HomeMy WebLinkAbout12-147 Amend GF and EDA Budgets
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 12 - 147
RESOLUTION ADOPTING AN AMENDMENT TO THE 2012 PRIOR LAKE
GENERAL FUND AND ECONOMIC DEVELOPMENT AUTHORITY BUDGET S
MOTION BY: SECOND BY:
Hedberg Keeney
WHEREAS,
The Prior Lake Economic Development Authority (EDA) requested an a mendment
to the 2012 budget on July 16 , 2012 in the amount of $50,000.00 for the purpose of
establishing the City of Prior Lake Technology Village Business Incubator ; and
WHEREAS ,
E stablishment of a technology village incubator is one of the Economic and
Community Development goals identified in the City of Prior Lake 2030 Vision and
Strategic Plan; and
WHEREAS ,
It is understood that to achieve Economic Development Authority objectives , some
amount of investment will be necessary, the exact amount of whi ch is not known at
this time; and
WHEREAS,
Article 10.2 of the EDA bylaws requires that the EDA budget be approved by the
Prior Lake City Council; and
WHEREAS,
Funding for the EDA Amendment includes a transfer from the General Fund
Reserves in an amoun t not to exceed $50,000.00 .
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA
as
follows:
1. The recitals set forth above are incorporated herein.
2. The General Fund budget amendment is hereby approved to reflect a transfer of up to $50,000.00
from the general fund reserve to the Economic Development Authority Budget .
3. The Economic Development Authority budget amendment is hereby approved in the additional
amount of $50,000.00.
TH
PASSED AND ADOPTED THIS 10 DAY OF SEPTEMBER , 2012.
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
Frank Boyles, City Manager
Phone 952.447. 9800 / Fax 952.44 7 . 4245 / www.cityofpriorlake.com