Res 75 - 36 Rescinding Resolution No. 73-23 & to Transfer Funds from the Consolidated Debt Service Fund to the General Fund.. c _—
City of Mendota Heights
Dakota County, Minnesota
RESOLUTION NO. 75- 36
RESOLUTION RESCINDING RESOLUTION
N0. 73-23 AND TO TRANSFER FUNDS
FROM THE CONSOLIDATED DEBT
SERVICE FUND TO THE GENERI�L FUND
WHEREAS, Resolution No. 73-23 is inoperative due to the
passage of Ordinance No. 130; and
WHEREAS, the purpose of Resolution No. 73-23 is'still valid
and beneficial and should be reinstated; and
WHEREAS, the City of Mendota Heights constructed a trunk
sanitary sewer interceptor project and assessed a substantial portion
of the costs of such improvements against most properties situated
in the City; and '
WHEREAS, the City sold the portion of its trunk interceptor
sewer from and including the head house in the vicinity of Sibley
Memorial Highway and Mendota Road, northerly across the Mississippi
River to a point of intersection with St. Paul interceptor No. 1-SP-250
in the vicinity of Adrian and Vista Avenues (vacated) to the Metropoli-
tan Sewer Board for the total consideration of $843,661 ($800,000 in
cash and $43,661 in credits to offset against said Metropolitan Sewer
Board's future billings); and .
WHEREAS, future charges of the said Metropolitan Sewer Board
will reflect in part the cost of inetropolitan interceptor benefits to
the City; and �
WHEREAS, the uniqueness of the aforementioned situation makes
it proper and in the best interest of the City to transfer to the
General Fund for the purpose of paying in part future Metropolitan
Sewer Board billings, the City's estimate of interceptor sewer assess-
ments in excess of the related debt service requirements; and
WHEREAS, the debt service function has been included in the
Consolidated Debt Service Fund;
NOW THEREFORE, IT IS HEREBY RESOLVED by the City Council of
the City of Mendota Heights, Minnesota:
1) That a transfer be made from the City's Consolidated
Debt Service Fund to the General Fund each year in the
following amounts provided that on each December 31 prior
to the designated transfer year the Consolidated Debt
Service Fund has sufficient funds for both the designated
transfer and the debt service requirements for the year
of such transfer. The amount to be so transferred for the
following years shall be as follows:
/'
J � �
Tran�sfe�r Year
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Total
Amount
$ 45,000
42, 000
39,000
36,000
34,000
32,000
30,000
27,000
25,000
22,000
21,000
19,000
17,000
36,000
34,000
32,000
28,000
$519,000
2) That any such transfers not made to the General Fund
as hereinabove provided due to insufficient funds shall
be considered on a cumulative basis on each successive
December 31st.. - _
Adopted by the City Council of the City of Mendota Heights this 6th
day of May, 1975. •
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
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