Agenda Packets - 2015/01/05 (2) - Laserfiche WebLink

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203.01 203.02 (Rev. 5/10) Subd. 10. Authentication of Transcript: The officers of the Municipality and the County Auditor of Ramsey County shall prepare and furnish to the purchaser of each series of such bonds certified copies of all proceedings and records relating to the authorization thereof and such other certificates and affidavits as to matters shown by the records in their custody or otherwise known to them as may be required to evidence the validity and marketability of the bonds, and all such documents shall be deemed representations of the Municipality as to the correctness of all statements therein contained. (1988 Code §20.01) 203.02: UTILITIES OPERATING FUNDS: Subd. 1. Establishment: There are hereby created separate and special funds designated as the “Water Utility Operating Fund” and “Sewer Utility Operating Fund” which shall be maintained on the official books and records of the City and be administered in accordance with this Section. These Funds shall be used to handle the revenues and expenses from the Municipal water and sanitary sewer utilities owned and operated by the Municipality1. Subd. 2. Revenue and Expenses: Revenue from either the water or sanitary sewer system shall be credited directly to the proper account. Expenses shall be debited against the applicable water or sanitary sewer system account. Any expenses that are made for public utility purposes shall be apportioned by the Finance Director/Treasurer to the applicable account. Subd. 3. Transfer of Funds: The Council may transfer funds into the Utilities Operating Funds from any source, and the Council may transfer funds out of the Utilities Operating Funds to the General Fund or Improvement Bond Redemption Fund 2. Subd. 4. Pledge of Funds: In the event the Council pledges any of the funds of the Utilities Operating Funds for bond redemption or any other purpose, the City Administrator shall make such payments as are necessary in the manner prescribed by law or resolution. All pledges must be satisfied before the Council can authorize a transfer out of the Utilities Operating Funds. (Amended, Ord. 844, 5-20-10) Subd. 5. Investment of Funds: Whenever there are temporary idle funds in the Utilities Operating Funds, the Finance Director/Treasurer may invest said funds, and the revenue derived therefrom shall be credited to the appropriate Utilities Operating Funds. (1988 Code §20.03) 1 See Chapters 906 and 907 of this Code for water and sewer systems. 2 See Section 203.01 of this Chapter. City of Mounds View