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<br />'. <br /> <br />').' <br />.. \ I <br /> <br />RESOLUTION NO. 88 -140 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHION <br /> <br />RESOLUTION ESTABLISHING THE S'IQRMWATER MANAGEMENT FUND <br /> <br />Whereas, in 1987 the City began work on the stor.nwater detention <br />area at Veterans Park; <br /> <br />Whereas, this project, as well as subsequent work, is intended to <br />improve water quality, prevent flooding and erosion, and protect wetland <br />and wildlife habitat; <br /> <br />Whereas, financing for the stormwater improvements for the rrost part <br />carres from a general property tax levy; <br /> <br />Whereas, to avoid fluctuations in the levy, the tax need is averaged <br />; over a five year period; <br /> <br />Whereas, to maintain a cauplete record on financing, a separate fund <br />needs to be established; <br /> <br />Whereas, the purpose of this special fund shall be to receipt tax <br />collections and then make a disbursenent to the construction fund which is <br />handling the storrrwater improvenent; <br /> <br />Whereas, fran time to time, it is understood that the tax receipting fund <br />will incur a def ici t due to the collection of taxes on an average basis over ' <br />a five year period. <br /> <br />Now, therefore be it resolved that: <br /> <br />1. 'Ihe StOrnMater Management FUnd shall be established. <br /> <br />2. 'Ihe 1987-88 Annual Budgets shall be arrended to cauply with the <br />above tenus. (see Attacl11rent) <br /> <br />Adopted this 13 t h <br /> <br />day of <br /> <br />Dp.<:Amhp r. 1 q 8 8 <br /> <br /> <br />~ <br />;L ..' <br />)7. r ,.' <br />.IP'" ,/ ''I'".~' ~..y <br />Henry D inda, City Manager <br /> <br />~q~ <br /> <br />Margaret \A. Egan <br />Finance Director/ <br />City Clerk <br />