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Home My WebLink AboutCity Council Resolution 1982-656CITY OF PLYMOM Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Plymouth, Minnesota, was field O—n—tEW 6th day of �,pecember 19 82 . The following members were present.?ayor'Davenport, mEa hpja Moen. Neils, Schneider and Threinen none *ee Mayor Davenport introduced the following Resolution and moved its adoption: RESOLUTION NO. 82 - 656 AUTHORIZING THE TRANSFER OF FUNDS 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, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA that the Finance Director is authorized to transfer $153,130 from the Utility Trunk Fund to the 1966 Special Assessment Fund based on the adopted amortizaticn schedule. The motion for the adoption of the foregoing Resolution was duly seconded by Councilmember Threinen , and upon vote being taken thereon, the following voted in favor therecf: Mayor Davenport, Councilmembers Moen, Neils, Schneider and Threinen The following voted against or abstained: none Whereupon the Resolution was declared duly passed and adopted.