Res 73 - 23 Transfer of Funds from the Interceptor Sewer Improvement Debt Service Fund to the General FundVillage of Mendota Heights
Dakota County, Minnesota
RESOLUTION N0. ,,j �
RESOLUTION TO TRANSFER FUNDS FROM THE INTERCEPTOR
SEWER IMPROVEMENT DEBT SERVICE FUND TO THE
GENERAL FUND
WI�IEREAS, the Village 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
Village; and
WHEREAS, the Village 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 Metropolitan
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
Village; and
WHEREAS, the uniqueness of the aforementioned situation makes it
proper and in the best interest of the Village to transfer to the
General Fund for the purpose of paying in part future Metropolitan
Sewer Board billings, the Village's estimate of interceptor sewer
assessments in excess of the Interceptor Sewer Improvement Debt
5ervice Fund's requirements; _
NOW THEREFORE, IT IS HEREBY RESOLVED by the Village Council of the
Village of Mendota Heights, Minnesota:,
1) That a transfer be made from the Village's Interceptor
Sewer Improvement 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
Interceptor Sew�r Improvement Debt Service Fund has suffi-
cient 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 fol7.ows :
Transfer Year
1972
1973
1974
1975
Amount
$ 45,000
42,000
39,000
36,000
w
i �
Transfer Year
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
Total
Amount
$ 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 Village Council of the Village of Mendota Heights
this �'� day of /���zL , 1973.
ATTF�T :
� �
Gilbert M
Village C erk
VILLAGE COUNCIL
VILLAGE OF MENDOTA HEIGHTS
� ��k?�
By �
Donald L. Huber
Mayor
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