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<br />. <br /> <br />. <br /> <br />. <br /> <br />0/,' ~ <br /> <br />RESOLUTION NO. 3025 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />Pursuant to due call and notice thereof, a meeting of the <br />Council of the City of Mounds View, Minnesota was held at City <br />Hall on April 23, 1990 with the following members present: <br /> <br />and the following members absent: <br /> <br />Member ryaon~ introduced the following resolution and moved its <br />adoption: <br /> <br />A RESOLUTION DESIGNATING RETAINED EARNINGS OF THE WATER <br />AND SEWER FUNDS AS RESERVES FOR WATER AND SEWER MAIN BREAKS <br /> <br />WHEREAS, $15,000 was budgeted as contingency for water main <br />breaks in 1988 and 1989 and $15,000 was budgeted as contingency <br />for sewer main breaks in i988 and 1989; and <br /> <br />WHEREAS, on December 31, 1988 there existed a budget balance <br />of $12,415 for water main breaks and there existed a budget <br />balance of $15,000 for sewer main breaks; and <br /> <br />WHEREAS, on December 31, 1989 there existed a budget balance <br />of $12,408 for water main breaks and there existed a budget <br />balance of $12,408 for sewer main breaks; <br /> <br />WHEREAS, it is the desire of the Council to maintain <br />reserves for water and sewer main breaks; <br /> <br />NOW, THEREFORE BE IT RESOLVED by the Council that $24,823 of <br />retained earnings of the Water Fund is hereby designated as a <br />Reserve For Water Main Breaks and the Council affirms that as a <br />consequence of this designation the total amount so designated is <br />$97,261 and that $27,408 of retained earnings of the Sewer Fund <br />is hereby designated as a Reserve For Sewer Main Breaks and the <br />Council affirms that as a consequence of this designation the <br />total amount so designated is $74,851. <br /> <br />'\ <br />