HomeMy WebLinkAboutCity Council Resolution 1983-089Councilmember Schneider introduced the following Resolution and
moved its adoption:
Resolution No. 83 - 89
Establishing a Reserve for. General Liability and Fire Insurance and Establishing
a Reserve for Snow and Ice Removal
WHEREAS, it is sound financial. planning to adequately fund all contingent
liabilities, and
WHEREAS, the general fund balance is sufficient to finance the requested reserves,
and
WHEREAS, it is the recommendation of the Director of Finance that reserves totaling
$530,000 be established, and
WHEREAS, it is the desire of the City Council to establish a Reserve for General
Liability and Fire Insurance in the amount of $500,000 and a Reserve for Snow
and Ice Removal in the amount of $30,000;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA
that a Reserve to be known as Reserve for General Liability and Fire Insurance and
a Reserve for Snow and Ice Removal be established.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmem er MoRn , and upon vote being taken thereon, the
0 o ng pro e n avor ereo : Mayor Davenport, Councilmembers Moen,
et s, Schneider and Threinen
The following vote against orabstained:
Wwreupon the Resolution was declared duly passed and a op e .