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<br />.. <br />.. <br /> <br />~- <br /> <br />RESOLUTION NO 93 - 0 0 3 <br /> <br />STATE OF IIINNESOTA <br />COUNTY OF lWISEY <br />CITY OF NEV BRIGHTON <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE OF EQUIPMENT CERTIFICATES <br /> <br />Vhereas, the Annual Budget relies on equipment certificates to finance the General <br />Fund's portion of the fleet/equipment program; <br /> <br />Whereas, the use of equipment certificates with the fleet/equipment program provide$ <br />the advantages of an orderly replacement of fleet and equipment; fluctuations in thl!! <br />annual tax amount can be avoided; and, the greatest amount of the general tax base <br />is available for basic services; <br /> <br />Whereas, the use of equipment certificates is permitted pursuant to Minnesota <br />Statutes; <br /> <br />Now, therefore be it resolved that: <br /> <br />1. The preferred method of issuance of the certificates is through the Capital <br />Acquisition Fund. <br /> <br />2. A single year certificate shall be issued by the City for $197,700 for 1992. <br /> <br />3. A single year certificate shall be issued by the City for $265,000 for 1993. <br /> <br />4. The certificate amount above includes annual interest at the rate of 8%. <br /> <br />Adopted this <br /> <br />121"h day of <br /> <br />January <br /> <br />,1993. <br /> <br /> <br />" C" {" <br />~ \, lo:' '": ~:', / <br />\ ..... '" ~ ,r\ , ' t,: ,,::' r <br />", '(:VV..}_A-'\ n i \.."..ll'i\J-~>-"~ <br />Da~ld M. Childs, City Manager <br /> <br />ATTEST: <br /> <br />K~an <br /> <br />Finance Director/ <br />City Clerk <br />