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RESOLUTION NO. 5379 <br /> A RESOLUTION TO DEDICATE THE INCREASE IN FRANCHISE FEES FOR <br /> FISCAL YEAR 2000 TO STREET IMPROVEMENTS AND MAINTENANCE, <br /> AND TO DIRECT STAFF TO DRAFT ORDINANCE LANGUAGE CREATING A <br /> DEDICATED FUND AND STATED PURPOSE FOR LONG TERM FUND <br /> MANAGEMENT FOR STREET IMPROVEMENTS AND MAINTENANCE <br /> WHEREAS, the Mounds View City Council has studied the City's streets improvements <br /> and maintenance policies, the assessment policies and street construction specification <br /> criteria in an attempt to improve street construction project development for the City and <br /> for residents; and <br /> WHEREAS, the City Council determines it would be in the best interest of the City and <br /> its residents to have a City fund dedicated to funding the necessary street improvement <br /> and maintenance projects expected in the community for the future; and <br /> WHEREAS, the City Council is considering options for developing this fund including <br /> funding sources and appropriate use of such funds for streets improvement; and <br /> WHEREAS, the City Council is choosing to increase the gas and electric utility franchise <br /> fee collected from gas and electric service users with the expectation that the increased <br /> percentage of the collected franchise fee will be earmarked for this new streets <br /> improvement fund, <br /> THE CITY COUNCIL HEREBY RESOLVES to dedicate the difference of franchise fee <br /> revenue collected from the 1999 rate of 2.5% rate and the 2000 rate of 4%to a streets <br /> improvements fund, and <br /> FURTHER RESOLVES to direct City staff to draft ordinance language to clarify the <br /> purpose and use of a streets improvement dedicated fund for City Council review in <br /> November of 1999. <br /> Adopted this 11th day of October, 1999. <br /> Mayor Dan Coughlin <br /> Attest: <br /> Clerk Administrator Charles S. Whiting <br />