87-029 RES
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RESOLUTION 87 - 29
RESOLUTION OF THE CITY OF ELK RIVER
RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM THE SEWAGE
DISPOSAL FUND TO THE SEWAGE DISPOSAL CAPITAL RESERVE FUND
WHEREAS, monies need to be set aside for the replacement of
current equipment and the anticipated need for future
expansion of the Sewage Disposal Plant capacity; and
WHEREAS, the current Sewage Disposal Fund has adequate Retained
Earnings balance to allow for transfer of funds; and
WHEREAS, the City currently does not have a reserve set aside
for replacement or expansion of the current Sewage
Treatment Plant.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of
Elk River, that $125,000 be transferred from the Sewage
Disposal Fund to the Sewage Disposal Capital Reserve
Fund to fund any future replacement and expansion
needs.
Passed and adopted by the City Council of the City of Elk River,
this 22rtd day of June, 1987.
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Estelle E. Gunkel, Mayor
ATTEST:
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Patrick D. Klaers, City Administrator