HomeMy WebLinkAboutCity Council Resolution 1978-353CITY OF PLYMOU.H
Pursuant to to due call and notice thereof, a sDecial meeting of
the City Council of the City of Plymouth, Minnesota was held on tie
12th day of June 19 78. The following members were
. present: Mayor Hunt. Councilmembers Hoyt. Neils. Seibold and Spaeth
The following members were absent: None
Co nc'lm r Seibold introduced the following Resolution and
move its adoption:
RESOLUTION NO. 78- 353
ESTABLISHMENT OF A LIABILITY IN THE
UTILITY TRUNK FUND
WHEREAS, the City has obligated itself financially for the construction of
sanitary sewer interceptors, trunks, forcemaitis and lift stations and water
trunkmains, pumping and storage facilities for the benefit of present and
future residents, and
WHEREAS, it has been determined by this Council that the most equitable and
reasonable way of financing said improvements is through a combination of area
charge upon land benefited by such improvements as well as connection charges
for specific uses, and
WHEREAS, the 1977 audit has established a deficit in the amount of $1,458,377
. exists in the 1966 Special Assessment Bond Fund as a result of project costs
which have not been assessed, and
WHEREAS, the Finance Director requests the authorization to establish as a
liability of the Utility Trunk Fund the amount of $1,458,377.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the Finance Director is authorized to record as a liability the
amount of $1,458,377 to the 1966 Special Assessment Bond Fund in the official
financial statements of the City of Plymouth.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Neils , and upon vote being taken thereon, the
following Yote to faYor thereof; Mayor Hunt, Councilmembers Hoyt, Neils,
Seibold and Spaeth
ID The following yoted against orabstained; None
Whereupon the Resolution was declared duly pasised and adopted,