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AGENDA ITEM 3A <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE 4/9/01 <br />TOPIC Resolution No. 2001 -53 Designating Annual Depreciation <br />In Water And Sewer Funds <br />Simple Majority <br />VOTE REQUIRED <br />BACKGROUND <br />When the City Council adopted resolutions 01 -05 and 01 -19 setting sewer and water rates it <br />requested that staff prepare a resolution which would designate amounts collected for system <br />replacement costs (annual depreciation) for that specific purpose. In response to this request, <br />Staff has prepared draft Resolution 01 -53 which states the rationale for including these <br />amounts in the rates and designates the annual depreciation for future replacement of system <br />infrastructure and equipment. This amount would accumulate from year to year. Since the <br />rates do not take effect until April, the designation for 2001 will be prorated from April 1 of this <br />year. The resolution also states that this designated amount will be reduced only by scheduled <br />or needed infrastructure or equipment replacement. <br />• OPTIONS <br />1. Adopt Resolution 2001 -53 designating annual depreciation in the Water and Sewer <br />funds. <br />2. Refer back to Staff for further consideration. <br />3. Deny Resolution 2001 -53. <br />RECOMMENDATION <br />Option 1 <br />• <br />