HomeMy WebLinkAboutCity Council Resolution 1986-583CITY OF PLWW H
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota, was held on the15thday of September , 1986.
The following members were present: Mayor Schneider, uncilmembers ra n, isk,—
Vasiliou, and Zitur
e of ow ng members were absent: none
Councilmember Vasiliou introduced the following Resolution and moved its
adoption:
RESCI.UTION NO. 86-583
A RESOLUTION ESTABLISHING AN
INFRASTRUCTURE REPLACEMENT RESERVE FUND;
PROVIDING FOR ITS SUPPORT AND ADMINISTRATION
BE IT RESOLVED BY the City Council of the City of Plymouth, Minnesota, as
follows:
1. Pursuant to the authority granted by Laws of Minnesota 1986, Chapter 465,
Article 2, Section 14 (Act) there is established an Infrastructure Replacement Reserve
Fund (Fund) as a special fund of the City.
2. There shall be paid into the Fund the proceeds of tax levies made from time to
time for the support of the Fund and any other monies properly available and
appropriated by this Council for the use of the Fund.
10 3. There shall be paid out of the Fund the capital costs of the replacement of
streets, bridges, curbs, gutters and storm sewers and any other capital improvement
authorized by the Act. Payments from the Fund shall be made pursuant to resolution of
this Council.
4. The City Manager shall annually, prior to July 1, provide a written report to
the City Council (1) detailing the status of the Fund, (ii) containing recommendations
for its use in the ensuing fiscal year, (iii) recommending steps to be taken for the
support of the Fund including a recommendation for tax levies for that purpose, and
(iv) such other information concerning the Fund deemed necessary by the Manager or
requested by this Council.
The motion for adoption of the foregoing Resolution was iuly seconded by
Councilmember Zitur , and upon vote being taken thereon, e
following vote n favor thereof: yor, hneider, c:ouncilmembers Crain, Sisk,
and Zitur ^ --
...c I uaivw. FIV voLea against or aDstalneat
Whereupon the Resolution was declared dul