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<br />.) <br /> <br />II <br /> <br />RESOLUTION NO. 86-126 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION ESTABLISHING A POLICY FOR THE FINANCING FOR THE <br />,. <br />REPLACEMENT OF THE UTILITY INFRASTRUCTURE <br /> <br />WHEREAS, the City operates a water and sewer utility system; <br />and <br /> <br />. I WHEREAS, the infrastructure refers to all of the components <br />of the capital plant which are necessary to provide the water <br />and sewer utility system; and <br /> <br />WHEREAS, examples of capital plant items include wells, mains, <br />lift stations and water towers; and <br /> <br />WHEREAS, the most equitable manner to provide for the replace- <br />ment of the infrastructure is through charges to users of the <br />utility system; and <br /> <br />WHEREAS, equity is further benefitted if the payment of the <br />! replacement cost is deferred until the actual replacement takes <br />place. <br /> <br />NOW THEREFORE BE IT RESOLVED THAT: <br /> <br />1. The infrastructure shall be financed through utility <br />revenues. <br /> <br />2. The payment for the replacement cost shall be deferred <br />until the actual replacement takes place so that users <br />of the system pay directly for the system in use. <br /> <br />3. The use of bonded debt or its equivalent is endorsed <br />to allow for the payment of the replaced item over the <br />period of its useful life. <br /> <br />Adopted this lOth day of <br /> <br />November <br /> <br />, 1986. <br /> <br />ATTEST: <br /> <br />.~ <br /> <br />: _ Marga~ A. Egan <br />. Finance Director <br /> <br />St8 /~ <br /> <br />RObe~, Mayor <br /> <br />/) krn~ ~~. <br /> <br />Henry Si~a, City Manager <br /> <br />(S EAL) <br /> <br />a <br />.... <br />