HomeMy WebLinkAboutCity Council Resolution 1986-584CITY OF PL"IDUTH
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota, was held on t e 15th day of September , 1986.
The following members were present: Mayor Schnei eT r�ouncilme ers Crain, "risk,—
Vasiliou, and Zitur
The followina members were absent: none
Councilmember Crain introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86-584
AN INITIAL RESOLUTION AUTHORIZING
A TAX LEVY IN SUPPORT OF THE INFRASTRUCTURE
REPLACEMENT RESERVE FUND OF THE CITY
BE IT RESOLVED By the City Council of the City of Plymouth, Minnesota, as follows:
1. The City has, by Resolution No. 86-583, (Resolution) duly established an
Infrastructure Replacement Reserve Fund (Fund) in accordance with Laws of Minnesota,
Chapter 465, Article 2, Section 14 (Act).
2. The Act authorizes the City to levy ad valorem property taxes on all taxable
property in the City to support the Fund. This Council has found and determined that
it is necessary for the sound financial management of the City and the Fund to levy
taxes as permitted.
3. There is hereby levied on all taxable property in the City an ad valorem
10 property tax in the amount of $220,000 for collection in the year 1987. Based on 1986
property tax valuations it is estimated that the tax hereby levied will equal
approximately 0.5 mills.
4. The proceeds of the tax levied by paragraph 3 shall be deposited in the Fund
pursuant to the Resolution and used only for the purposes of the Fund as authorized by
the City Council by resolution from time to time.
5. The Clerk is authorized and directed to publish this resolution once in the
official newspaper of the City as required by the Act.
6. This Resolution is effective ten days after its publication. If within the
ten day period a petition is filed with the City Clerk requesting an election on the
tax levy signed by a number of qualified voters greater than ten percent of the number
who voted in the City at the preceding general election, the tax levy will not be
effective until it has been approved by a majority of the votes cast on the question at
a regular or special election.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk, and upon vote being taken thereon, the follow ng
voted n favor thereof: Mayor Heider, Councilmembers Cr:sin, Vasiliou, and
Zitur
ine Toilowing voted against or abstained: Councilwiember Sitk
Whereupon the Resolution was declared duly oa3sed and a oote .