04/09/2001 Council Packet - Laserfiche WebLink

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• • Council member introduced the following resolution and move its adoption: WHEREAS, WHEREAS, WHEREAS, WHEREAS, CITY OF LINO LAKES RESOLUTION NO. 2001-53 RESOLUTION DESIGNATING ANNUAL DEPRECIATION IN WATER AND SEWER FUNDS the City Council from time to time reviews and revises the water and sewer utility rates charged by the City, and the City Council recognizes that it is fiscally prudent to recover all costs of operating the water and sewer systems, including future replacement of system infrastructure and equipment, through the water and sewer utility rate structure, and the City Council adopted Resolutions 01 -05 and 01 -19 setting water and sewer utility rates for 2001 -03, and such utility rates include the cost of future replacement of system infrastructure and equipment in the amount of the annual expense for depreciation of Water and Sewer Fund fixed assets, and WHEREAS, the City Council desires to designate such system infrastructure replacement costs on an annual basis. NOW, THEREFORE BE IT RESOLVED by the City Council of Lino Lakes, that the amount of the annual depreciation expense recorded in the Water and Sewer Funds shall be designated each year for the future replacement of system infrastructure and equipment, and that the designation will accumulate from year to year. For the year 2001 this designation shall be prorated from April 1, 2001. This designation will be reduced only for the cost of replacement of system infrastructure and equipment as scheduled or needed. Adopted by the City Council of Lino Lakes this 9th day of April, 2001. John Bergeson, Mayor Ry -Chel Gaustad, CMC City Clerk The motion for the adoption of the foregoing resolution was duly seconded by Council Member and upon vote being taken thereon, the following voted in favor thereof: • The following voted against same: Where upon said resolution was declared duly passed and adopted.