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<br />~ <br /> <br />" <br />'" <br /> <br />'. <br /> <br />RESOLUTION NO. 95...040 <br /> <br />State of Minnesota <br />County of Ramsey <br />City of New Brighton <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE OF EQUIPMENT CERTIFICATES <br /> <br />Whereas, the Annual Budget relies on equipment certificates to finance the General Fund's <br />portion of the fleet/equipment program; <br /> <br />Whereas, the use of equipment certificates with the fleet/equipment program provides the <br />advantages of an orderly replacement of fleet and equipment; fluctuations in the annual tax <br />amount can be avoided; and, the greatest amount of the general tax base is available for <br />basic services; <br /> <br />Whereas, the use of equipment certificates is permitted pursuant to Minnesota Statutes; <br /> <br />Now, therefore be it resolved that: <br /> <br />1. A single year certificate shall be issued by the City for $218,900 for 1995. <br /> <br />2. A single year certificate shall be issued by the City for $256,000 for 1994. <br /> <br />3. The certificates above include annual interest at the rate of 8%. <br /> <br />4. This resolution shall be effective December 31, 1994. <br /> <br />Adopted this 23rd day of May, 1995. <br /> <br /> <br />ATTEST: <br /> <br />M~~ <br /> <br />Finance Director <br /> <br /> <br />G: Budget <br />