HomeMy WebLinkAboutResolution 100-1994 RESOLUTION N0. 100-94
WHEREAS SDCL 9-21-28 authorizes a municipality to transfer
surplus funds accumulated through municipal revenue producing
enterprises to public school districte operating Mithin the
municipality, and
WHEREAS SDCL 9-�i-�8 further provides that any such transfer of
funde shall be made through a ma�ority vote of the governing body of
the municipality and accepted by a ma�ority vote of the governing body
of such echool district, and
WHEREAS no funds shall be traneferred that are acquired through
legal tax levy in the municipality, but rather the source of funds for
such transfer shall be from surplus funds in the control of the
Municipal Utility Board of the City of Brookings; and
WHEREAS the City of Hrookinga adopted Resolution 16-89 Mhich
authorized the Brookings Municipal Utilitiee Board to transfer one and
one-half tl 1/2) percent of the combined gross revenues of the
Electric and Telephone Funds and on February 13, 1990 to increase the
level of said transfer by one ( 1 ) percent, approved a motion thus
resulting in a transfer percentage of two and one-half (2 1/2)
percent, and
WHEREAS it is the intent of the Brookinga Municipal Utilities
Board to change the above established School Dietrict transfer amounts
by adding thereto the amount of 8220, 000 from the Telemarketing Fund
for the installation and purchase of telecommunicatione equipment at
the School District for the 1994 and 51, 800. 00 per month from the
Telephone Fund for the funding of incressed recurring local service
charges related to the above mentioned telecommunications equipment,
HOW, THEREFORE, BE IT RESOLVED by the Governing Hody that the
Brookings Municipal Utility Board ia hereby authorized to transfer to
the Hrookings Public School District on a monthly basis surplus funds
in the control of the Brookings Municipal Utility Board in the amount
of tpo and one-half (2 1/2) percent of the combined gross revenues of
the Electric Fund and the Telephone Fund, excluding revenuee derived
from deregulated and telemarketing activities, a one time payment for
the year 1994 in the amount of 5220, 000 from the Telemarketing Fund
and an additional 81, 800. 00 per month from the Telephone Fund,
effective September 1, 1994.
Passed and approved this 27th day of September, 1994.
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� RESOLUTION NO. 26 - 94
RESOLUTION AMENDING RESOLUTION NO. 2-94 PROVIDIN6 .
FOR FORMULAS FOR TRANSFER OF UTILITY SURPLUS FUNDS TO
THE CITY GENERAL FUND AND SCHOOL DISTRICT
WHEREAS the Brookings Municipal Utilities passed
Resolution No. 2-94 providing for the formula used. to
� calculate the transfer of Utility surplus funds to the City
General Fund and School District 5-1 beginninq January 1,
1994; and
WHEREAS it is the intent of the Brookings
Municipal Utilities to change the above estaY�lished
- formulas used to calculate the transfer of surplus funds.
wHEREAS the Governing Body of the City of
� Brookings passed Resnlution No. 100-94 authorizing the
Brookings Municipal Utilities Board to transfer surplus
funds to the Brool�ings School District.
NOW, THEREFORE, BE IT RESOLVID by the Brookings
Municipal Utilities Board that Resolution. No. 2-94 be
amended to provide that, beginning January 1, 1995,
transfers be made to the City General Fund and Brookings
School District 5-1 from the Telephone and Electric Eunds in
amounts as established by the following formula:
Electric E�nd
Total Gross Revenues X 4.90% to
the City General Fund
Total Gross Revenues X 1.10� to
Brookings School District 5-1
Telephone Fund
*Total Gross Revenues X 27� plus a one time
payment of $75,000 to the City General Fund
_ _. Plus $20�,000.00 to the City General
. Fund/Community Betterment Fund
*Total Gross Revenues X 4.35% to
the Brookings School District 5-1 plus,
starting September 1, 1994, $1,800.00 per
month to the Brookings School District 5-l.
� *Excluding revenues derived from deregulated and
telemarketing activities.
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Telemarketing Fund �;_ � '
A one time payment of $220,000'in. the year
1994 to the Brookings Schaol District 5-1.
Adopted this lOth day of October, 1994.
ATTEST: ,
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Charles Lamherton, Secretary Lynn A. Anderson, President
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