DISCLAIMER

 

06-0287R


RESOLUTION APPROPRIATING TOURISM TAX FUND BALANCE.

BY PRESIDENT REINERT:

     WHEREAS, there is an available fund balance in the tourism taxes fund of the city of Duluth; and

     WHEREAS, the city desires to contribute $40,000 toward a comprehensive feasibility study to assess the establishment of high-speed passenger rail service between Duluth and the Twin Cities.

     NOW, THEREFORE, BE IT RESOLVED, that $40,000 be allocated to St. Louis and Lake counties regional rail authority from the reserve for capital improvement fund balance in the tourism tax fund (258).


STATEMENT OF PURPOSE:  The St. Louis and Lake counties regional rail authority is seeking funds to conduct a comprehensive feasibility study that has a total cost of $760,000. They have secured federal funds in the amount of $600,000, or 80 percent of the total cost. The remaining 20 percent or $160,000 is being sought from those organizations affected by renewal of the rail service, including counties along the route. The rail authority has committed $80,000 and is requesting the city of Duluth contribute $40,000.