Minutes - 1991/12/12 - Laserfiche WebLink

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~unds View City Council gular Meeting Page Nine November 12, 1991 residents' utility bill and, then the City is saying if you are going to pay for it then you want increased services. Rickaby stated that, in her opinion, it is inappropriate to talk about increased services at this time. Mayor Linke stated things have to be decided as to where the money from the street light utility would go if it passes. There is a special budget meeting next Monday, November 18, 1991 to look at further cuts or how to utilize this revenue if it passes. Samantha Orduno stated that she would like to clear up the fact that the City has no reserves, per say. Orduno stated that there are no extra monies or rainy day funds. The City does not receive property tax money until July of each year and that is only one-half of the total. The second half is paid in December. Consequently, the City must use funds for cash flow to pay its bills. The money is not a reserve but a fund designated for cash flow balance. The fund used is not of significant size to fund other activities. 4 ayes 1 nay Motion Carried antha Orduno, City Administrator reviewed Ordinance No. 498 which ld approve either a gas, electric or gas and electric franchise fee from to 4 percent to be collected in 1992. Councilmember Rickaby stated that the city would not receive those monies from the franchise fees until the first part of 1993. Rickaby asked when NSP would begin collecting. Dave Schwartz, NSP, stated collection would begin 60 days after the ordinance becomes effective. It takes approximately 60 days to go through the Utilities Commission. Samantha Orduno, City Administrator, stated 60 days for gas, but there is na time estab expediently as possible as this also has to Commission. Councilmember Rickaby asked if year? Mr. Schwartz confirmed that it did. being lost to the City on that money. that collection would begin in Lished for electric other than as go through the Utilities NSP holds the money for one Rickaby stated there is interest Samantha Orduno, City Administrator, stated that she had heard horror stories from those cities who had worked with NSP and this had not been the case with Mounds View, Orduno stated that NSP has cooperated in every way with the City of Mounds View. She also stated that she Orduno further stated that Dave brought up in a previous meeting with NSP that the franchise agreements could be amended to possible receive monies quarterly or monthly if extension is given to NSP. ~e Schwartz stated that monthly would be difficult, but quarterly is a possibility.