HomeMy WebLinkAboutResolution 3025
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RESOLUTION NO. 3025
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
Pursuant to due call and notice thereof, a meeting of the
Council of the City of Mounds View, Minnesota was held at City
Hall on April 23, 1990 with the following members present:
and the following members absent:
Member ryaon~ introduced the following resolution and moved its
adoption:
A RESOLUTION DESIGNATING RETAINED EARNINGS OF THE WATER
AND SEWER FUNDS AS RESERVES FOR WATER AND SEWER MAIN BREAKS
WHEREAS, $15,000 was budgeted as contingency for water main
breaks in 1988 and 1989 and $15,000 was budgeted as contingency
for sewer main breaks in i988 and 1989; and
WHEREAS, on December 31, 1988 there existed a budget balance
of $12,415 for water main breaks and there existed a budget
balance of $15,000 for sewer main breaks; and
WHEREAS, on December 31, 1989 there existed a budget balance
of $12,408 for water main breaks and there existed a budget
balance of $12,408 for sewer main breaks;
WHEREAS, it is the desire of the Council to maintain
reserves for water and sewer main breaks;
NOW, THEREFORE BE IT RESOLVED by the Council that $24,823 of
retained earnings of the Water Fund is hereby designated as a
Reserve For Water Main Breaks and the Council affirms that as a
consequence of this designation the total amount so designated is
$97,261 and that $27,408 of retained earnings of the Sewer Fund
is hereby designated as a Reserve For Sewer Main Breaks and the
Council affirms that as a consequence of this designation the
total amount so designated is $74,851.
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RESOLUTION NO. 3025
PAGE TWO OF TWO
The motion for adoption of the above resolution was duly seconded
by Member WUOYl. and upon a vote being taken, Ayes Nays,
said resolution was declared duly passed and adopted this 23rd
day of April, 1990.
ATTEST:
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Mayor
(SEAL)