BY COUNCILOR GILBERT:
WHEREAS, pursuant to Resolution No. 04-0594 the city council determined that there was a profound public need, one that the city has not had the resources to fully meet, for programs and facilities to build the community and help disadvantaged youth and stated the city's intent to contribute, to the extent reasonably and legally possible, $1.2 million per year over five years from city revenues from Fond du Luth Casino operations, known as the community investment trust, to endow the operations of the proposed Duluth-Kroc Community Center; and
WHEREAS, it is necessary to increase the city's funding of that endowment by increasing from five to six the number of years that city will contribute $1.2 million to that fund.
RESOLVED, that Paragraph (d) of Resolution No. 04-0594 is hereby amended by increasing the number of years in which $1.2 million is to be provided to the Duluth-Kroc Community Center endowment fund from five years to six years.
STATEMENT OF PURPOSE: The purpose of this resolution is to increase from five to six the number of years in which $1.2 million will be appropriated from the community investment trust to the endowment fund for the Duluth-Kroc Community Center.