HomeMy WebLinkAboutCity Council Resolution 1981-522CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of
the City Council of the City of Plymouth, Minnesota was e don tie
17th day of August , 19_U. The following members were
piresent: p Schneider and Threine
The following membert were absent: none
introduced the following Resolution and
moved Its adoption:
RESOLUTION NO. 81 - 522
AUTHORIZING THE TRANSFER OF FUNDS FROM THE WATER UTILITY FUND TO THE SANITPRY
SEWER UTILITY FUND
WHEREAS, the Sanitary St ;er Utility Fund has sustained a deficit cash balance over
the past years, and
WHEREAS, Council desires to improve the financial cash flow position of the Sanitary
Sewer Utility Fund, and
WHEREAS, it is not prudent to increase the Sanitary Sewer rates in the magnitude that
would be required to enhance the financial position of the fund, and
WHEREAS, the Water Utilitv Fund has adequate retained earnings from which a
contribution could be made to the Sanitary Sewer Utility Fund without endangering
the financial position of the Water Utility Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA
that the Finance Director is authorized to transfer $300,000 from the Water Utility
Fund (501-501-965.00) to the Sanitary Sewer Utility Fund (502-000-501.00).
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember He , and upon vote being taken thereon, the
tollowIng Voted n Tayor thereof. Payor Davenport. Councilmembers Hoyt,
Neils, Schneider and Threinen
The following vote against orabstained.
Whereupon the Resolution was declared duly pasised and adopted,