HomeMy WebLinkAboutCity Council Resolution 1981-227CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of
the City Council of the City of Plymouth, Minnesota waseTa—on tTe
6th day of April , 19_aL. The following members were
present: Mayor Daven ort
The following members were absent: ouni
•rt rrw*
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Councilmember Hoyt introduced the following Resolution and
moved Its adoption:
RESOLUTION NO. 81-227
AUTHORIZING THE TRANSFER OF -UNDS FROM THE UTILITY TRUNK FUND TO THE 1966 SPECIAL
ASSESSMENT BOND FUND
WHEREAS, the City has obligated itself financially for the construction of sanitary
sewer interceptors, trunks, forcemains 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 charges upon land
benefited by such improvements as well as connection charges for specific uses, and
WHEREAS, the 1977 audit established that 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 was authorized to record as a liability the amount of
$1,458,377 due to the 1966 Special Assessment Bond Fund from the Utility Trunk Fund
in the official financial statement of the City of Plymouth.
NOW, THEP,EFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA
that the Finance Director is authorized to transfer $306,260 from the Utility Trunk
Fund to the 1966 Special Assessment Fund based on the adopted amortization schedule.
The notion for the adoption of the foregoing Resolution was duly seconded by
Councilmember T r and upon vote being taken thereon, the
foil fcw4ng �o n favor thereof; Mayor Davenport_ rnlnr;lmomhorc Way,4, _
chn i er an Threinen
The following vo against or abstained;
Aone
Whereupon the Resolution was declared duly passed and adopted,