Agenda Packets - 1999/11/01 - Laserfiche WebLink

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RESOLUTION NO. Establishing a Street Reconstruction Fund and dedicating a portion of Electric and Natural Gas Franchise Fees to said Fund CITY OF MOUNDS VIEW County of Ramsey State of Minnesota WHEREAS, the City's existing streets are aging and will need to be reconstructed; WHEREAS, the City has determined that it wishes to reduce the percentage of the street reconstruction costs that are paid by property owners; WHEREAS, the City needs a funding source to pay for its share of street reconstruction projects; and WHEREAS,the City is authorized to levy a franchise fee on Electric and Natural Gas sales in the City of Mounds View of up to 4%; and WHEREAS,the City has determined that it will levy the full 4%franchise fee in the year 2000 with at least 1 1/2%of the 4%to be used towards future street reconstruction projects. NOW THEREFORE,BE IT RESOLVED by the City Council of the City of Mounds View that a Street Reconstruction Fund be hereby established. BE IT FURTHER RESOLVED,that the Street Reconstruction Fund can only be used to pay for the costs associated with street overlay,reconstruction,or construction projects provided,however, that if the City Council determines that any monies in said fund should be used for some other purpose, it must conduct a public hearing by providing at least fourteen days public notice and publish a notice of said public hearing in the City's legal newspaper,and approve such other use of said funds by at least four votes of the City Council. BE IT FURTHER RESOLVED, that for the year 2000, at least 1 1/2% of the 4% Electric and Natural Gas Franchise Fee will be deposited upon receipt, into the Street Reconstruction Fund. Whereas said resolution was declared to have been duly passed and adopted this 15th day of November, 1999. ATTEST: Mayor (SEAL) City Administrator