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5): <br /> J- - <br /> . <br /> RESOLUTION NO. 3025 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <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 /> and the following members absent: <br /> Member introduced the following resolution and moved its <br /> adoption: <br /> A RESOLUTION DESIGNATING RETAINED EARNINGS OF THE WATER <br /> AND SEWER FUNDS AS RESERVES FOR WATER AND SEWER MAIN BREAKS <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 /> 410for sewer main breaks in 1988 and 1989; and <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 /> 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 /> WHEREAS, it is the desire of the Council to maintain <br /> reserves for water and sewer main breaks; <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 />