HomeMy WebLinkAboutResolution 4265 Creating Library Depreciation Reserve FundCOMMISSION RESOLUTION NO. 4265
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOZEMAN, MONTANA, CREATING THE BOZEMAN PUBLIC LIBRARY
DEPRECIATION RESERVE FUND.
WHEREAS, the Library Board has requested the establishment of a Library Depreciation
Reserve Fund, pursuant to M.C.A. 22-1-305, and;
WHEREAS, the City finds benefit in the proper and coordinated maintenance of the City's
Library property, buildings, and equipment, and;
WHEREAS, the City wishes to create the Bozeman Public Library Depreciation Reserve
Fund, in accordance with M.C.A, 22-1-305 through 22-1-307.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman,
Montana, that
Section 1
The Bozeman Public Library Depreciation Reserve Special Revenue Fund (the Fund) is hereby
established. 'The balance of the Fund will be invested as provided by law. All interest earnings and
interest charges will be paid or charged to the Fund.
Section 2
Beginning with Fiscal Year 2010 (FY10), at the end of each fiscal year, an amount equal to the unspent
General Fund Library appropriations (Account Divisions 7810-7850) will be transferred into the Fund,
out of the General Fund.
Section 3
The Fund will be used to pay for the replacement and acquisition of property, capital improvements, and
equipment necessary to maintain and improve the City's Library. In order to best provide for the
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coordinated maintenance of the Library building and equipment, all expenditures or transfers from the
fund will be budgeted for and authorized as part of the normal budgetary process by the Library Board
and the Bozeman City Commission.
PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 2nd day of August, 2010.
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Jef �t Ss, Mayor
APPROVED AS TO FORM:
G g Sullivan, City Attorney