Resolution 57-02 Financial Maintenance

WHEREAS, the need presents itself for the maintenance and updating of various City Funds, and

WHEREAS, these changed are to occur at the end of the City�s 2002 fiscal year.

NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF MOUNTAIN IRON, MINNESOTA, that the following take place at the end of the City�s 2002 fiscal year:

Capital Improvement Fund � Liabilities to Jola and Sopp, in the amount of $2500, shall be eliminated and transferred to the Capital Improvement Fund � Unreserved Fund Balance.

Capital Improvement Fund � An amount of $100,000 shall be transferred from the Capital Improvement Fund to the General Fund.

DULY ADOPTED BY THE CITY COUNCIL THIS 16TH DAY OF DECEMBER, 2002.