HomeMy WebLinkAbout2017-684-8/21/2017 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street, Waterloo,
IA 50703, 319-291-4323.
RESOLUTION NO. 2017-684
RESOLUTION APPROVING DESIGNATION OF REVENUE EARNED
FROM AUTOMATED TRAFFIC ENFORCEMENT CAMERAS BY
HOLDING REVENUE IN AN ACCOUNT USED AS POLICE
REVENUE IN THE BUDGET YEAR TWO YEARS FOLLOWING
RECEIPT OF SAID FUNDS, ASSIGNING USE OF SAID REVENUE
FOR PROPERTY TAX REDUCTION, AND CLASSIFYING SAID
REVENUE AS COMMITTED FUND BALANCE ON THE CITY'S
FINANCIAL STATEMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the designation of revenue earned from automated traffic enforcement cameras by holding
revenue in an account used as police revenue in the budget year two years following receipt of
said funds, assigning use of said revenue for property tax reduction, and classifying said revenue
as committed fund balance on the '
City s financial statements, is hereby approved.
PASSED AND ADOPTED this 21St day g
of August 2017.
..
Quentin Hart, Mayor
ATTEST:
elley Fel le
City Clerk