Title
Resolution Approving Amended Policy and Procedure for HRA Funds Budget Amendments, Citywide
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") is a public body corporate and politic established pursuant to the provisions of Minnesota Statutes, Section 469.001, et seq. (the “Act”); and
WHEREAS, by Resolution No. 95-7/12-6 the HRA Board of Commissioners approved a policy and procedure for amending HRA funds budgets (“95 Resolution”); and
WHEREAS, the HRA Board desires to adopt a new and amended policy and procedure for amending HRA funds budgets as set forth in this resolution (“2017 Resolution”) which will replace and supersede the 95 Resolution; and
WHEREAS, the HRA Board finds a public purpose for the actions taken in this 2017 Resolution.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that the following HRA Funds budget policy and procedure be implemented effective upon the passage of this resolution:
1. Any amendments during the course of a budget year decreasing total fund spending or transferring budget amounts between activities within the HRA Development Capital Fund (“DC Fund”) in excess of $100,000.00 shall only be made by resolution adopted by the HRA Board of Commissioners. All other budget amendments that do not increase the total DC Fund budget and other HRA total fund budgets may be made by Administrative Order executed by the HRA Executive Director and Director of Office of Financial Services or by resolution of the HRA Board of Commissioners. All Administrative Orders executed under this 2017 Resolution that involve amounts in excess of $50,000.00 shall be placed on the HRA Board agenda for informational purposes.
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