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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION 87 - 29 <br />RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM THE SEWAGE <br />DISPOSAL FUND TO THE SEWAGE DISPOSAL CAPITAL RESERVE FUND <br /> <br />WHEREAS, monies need to be set aside for the replacement of <br />current equipment and the anticipated need for future <br />expansion of the Sewage Disposal Plant capacity; and <br /> <br />WHEREAS, the current Sewage Disposal Fund has adequate Retained <br />Earnings balance to allow for transfer of funds; and <br /> <br />WHEREAS, the City currently does not have a reserve set aside <br />for replacement or expansion of the current Sewage <br />Treatment Plant. <br /> <br />NOW THEREFORE BE IT RESOLVED by the City Council of the City of <br />Elk River, that $125,000 be transferred from the Sewage <br />Disposal Fund to the Sewage Disposal Capital Reserve <br />Fund to fund any future replacement and expansion <br />needs. <br /> <br />Passed and adopted by the City Council of the City of Elk River, <br />this 22rtd day of June, 1987. <br /> <br />~-1zll/ ~} .~~ <br /> <br />Estelle E. Gunkel, Mayor <br /> <br />ATTEST: <br /> <br />&~ Z;?/~ <br /> <br />Patrick D. Klaers, City Administrator <br />