Title
RESOLUTION APPROVING BUDGET AND COST SHARING FORMULA OF MINNEAPOLIS-DULUTH/SUPERIOR AND PASSENGER RAIL ALLIANCE AND AUTHORIZING PAYMENT OF CITY’S COST SHARE OF $15,000.
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CITY PROPOSAL:
WHEREAS; the city council approved an amount not to exceed $15,000 as an operating subsidy to Minneapolis-Duluth/Superior passenger rail alliance in resolution 17-0877R passed on December 11, 2017 that appropriated the estimated 2018 hotel-motel and food and beverage tourism taxes.
RESOLVED, that the city council hereby approves the 2018 budget and cost sharing formula for the Minneapolis-Duluth/Superior passenger rail alliance, a copy of which is attached as Exhibit A, as required by paragraph V-E of the joint powers agreement on file as City Agreement No. 20580.
FURTHER RESOLVED, that the proper city officials are hereby authorized to pay the city’s share of the rail alliance’s 2018 budget in the amount of $15,000, in conformance with Section VI-A of City Agreement No. 20580, said sum to be payable from Tourism Tax Fund 258, Finance 030, Tourism Tax Allocation 5436, Rail Alliance 09.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution approves the 2018 budget and cost sharing formula for the Minneapolis-Duluth/Superior passenger rail alliance and authorizes payment of the city’s share of the alliance’s cost for 2018 in the amount of $15,000. This agreement is funded by tourism tax collections.