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1966-3708r~. ~.~7 RESOLUTION NO. 3708 RESOLUTION AUTHORIZING ANA DIRECTING FIXED ASSET CHARGES TC3 EARNED SURPLUS IN THE SEWER UTILITX FUND AND TRANSFERRING FUNDS TO THE IMPROVEMENT BONGS ()F 19b0 FUND AND TU THE IIN'PROVE- Iu~NT BONDS OF 1965 FUND 1 6VHEREAS, Certain fixed assets consisting of land, equipment and building in the c©nstruction of sewer lift stations are recorded in the Sewer Utility Fund, and WHBREAS, These fixed assets-.have been paid for and recorded a~s a contribution by the municipality, and iM1RH'ERBAS, It is hereby determined that the Sewer Utility Fund ~.~ a self- - supporting public service enterprise should bear this cost of fixed assets necessary for its operation, NOW THERBFORB, BE Ti' RESOLVED by the city council of the City of Richfield, Minnesota, as foilowsm 1. That an amsunt of $70,000 be charged to earned surpiue.for 196b in the Sewer Utility Fund. 2. That $9,500 be transferred to the. Improvement Bonds ©f 1960 Debt Redemption Fund, and $60,500 a transferred to the Improvement Bonds of 1965 Debt Redemption. Fund corresponding levies for ad valorem taxes are hereby authorized to be reduced. 3. That such transfers and authorization. to reduce corresponding tax levies be considered as a reimbursement of the muni,cpality~s con- tribution to the Sewer Utility Fund for fixed assets. 4. That the manager and director of finance shall b.ring..into effect the provisions of this resolution. Passed by the council of the City of Richfield this 10th day of October, 1966. Attest: ~~~~~ Molitne C1erk- Edward J. , Teas. Stanley W, © son, Mayor ire ~ ~~