HomeMy WebLinkAboutRES.557.09-04-1990 BILL N0. 90-208 __ RESOLUTION N0. �J��
A RESOLUTION ESTABLISHING COUNCIL POLICY RELATING
TO THE SEWER DEPRECIAiION FU�TD
WHEREAS , the City of Cape Girardeau , ilissouri , has adopted
accounting methods conforming to Generally Accepted Accounting
Principals, and
�'HEREAS , the City incurs annual depreciation expenses relative
to the operation of its sewer system and has established sewer
rates to cover such costs , and
GIHEREAS, the City has incurred ano ��il]_ incur costs for repair
and replacemer.t of sewer facilities and equipment , an�
WHEREAS, the City Council desires to set aside funds to cover
the cost for such repairs and replacements .
NOW, THEREFQF.E, BE IT RESOLVED BY THE COUNCIL OF TNE CI1^Y OF
CAPE GIRAR.DEAU, MISSOURI , AS FOLLOWS :
ARTICLE l . That City Staff is directea to set asice in a
restricted cash account in the sewer fund each year an amount
equal to the amount of depreciation experse incurred in the seti-er
fund. The monies held in this restricted account ma.y be used only
for tieti�er system a.nC equipment repairs and replacement costs , and
payments for bcnc�s issued prior to the adoption of this resolution .
PASSEB AND ADOPTED THIS �,U2 DAY OF , 19�.
GZ� ^
F ncis E . Rhoaes , f�layor
ATTEST:
�—
Jul� e . Dale
Dep City Clerk