HomeMy WebLinkAboutResolution 92-1995 RESOLUTION NO. 92-95
WHEREAS, the City of Brookings is the owner of its various utilities, including water,
sewer, electric and telephone, and
WHEREAS, the voters of the City of Brookings have concurred in the establishment of a
City Utility Board for the purpose of managing said utilities, and
WHEREAS, the surplus revenues from the operation of said utilities have been
traditionally transferred to the Municipal General Fund annually, on a monthly basis, and
constitute a significant source of revenue to the City of Brooking thereby decreasing the necessity
of levying additional property taxes upon the residents of the City of Brookings, and
WHEREAS, the budgeting process of the City of Brookings requires and is enhanced by a
reliance of stable and consistent surplus funds coming from the Utility Board, now therefore,
BE IT RESOLVED by the City Commission of the City of Brookings that the City Utility
Board establish its budget for revenues and expenses so as to provide a surplus amount to the
City of Brookings, a minimum of$2,500,000.00 payable on a monthly basis and as gross revenues
increase so shall the transfer. This amount does not include any amounts transfened to the
Brookings Independent School District.
Passed and approved this 31 st day of October, 1995.
Mayor
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Finance Officer