HomeMy WebLinkAboutCity Council Resolution 1986-486CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota, was held on the 4th day of August , 1986.
The following members were present: Mayor Schne eia r; Z ouncilmembers Sisk, asilTou,
and Zitur
The following members were absent: Councilmember Crain
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86-486
A RESOLUTION CALLING A PUBLIC HEARING
ON THE ESTABLISHMENT OF AN INFRASTRUCTURE
REPLACEMENT RESERVE FUND
BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota,
as follows:
1. The City of Plymouth (City) is authorized by Laws of Minnesota
1986, Chapter 465, Article 2, Section 14 (Act) to establish, maintain and
fund an Infrastructure Replacement Reserve Fund (Fund). Monies in the Fund
may be used only for the replacement of streets, bridges, curbs, gutters and
storm sewers. The City may annually levy ad valorem taxes on all taxable
�property in the City to support the Fund. The Act requires a public hearing
on the question of establishing the Fund.
2. It is found and determined that it is in the best interests of the
sound financial management of the City that the Fund be estahlished.
3. A public hearing on the establishment of the Fund will be conducted
before this Council on Monday, August 18, 1986 at 7:30 p.m. or as soon
thereafter as the matter can be heard. The Clerk is authorized and directed
to publish notice of the hearing in substantially the form attached hereto
as Exhibit A in the manner required by the Act.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, —the
following vote n favor thereof: Mayor Schneider, Councilmembers Sisk, Vasiliou,
and Zitur
e following voted against or abstained: none
ereupon the Resolution was declared duly passed and adopted.