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UrINlXCZS OF TEIE SPECIAL KEETIICG OP TEE EDIXA VIIXAGE CO~~CIE,
XEBRUARY 5% 1945
KELD IN VILLAGE HKLS AT 8 PoE.
A11 members of the counc2.l. yzere presentP,
Oscm Gauden, president of Country Club District Service eo., WGE( present. President Todd announced the purpose of the meeting aas for furtkrer consideratian of valuation and rates of Country Club District
Service Go.
Gaarden stated he had made additianal investment of $477 in plant of %he nrtter company during 1944. He stafed his auditor vould read the
Einnesota supreme court decision relating to the szater company and nowld prepare a sEatemenL of the cornpanyts operations in 1944, based
on his asswaption of the meming and effect of %he decision on property owed by %he company. and the difference of depreciation when used for nater rates and for depreciation, under the tno rates used by the company mounted to $600 per gear. Gawden said correct valurztian of property omed by the company amounted to $95,651 as of July 13 1944.
~LIBQ should be located in the vicinity of Fifty-second street and
Halffax avenue and that such install8tion 170Uld cost from $12,000 to
$15,000. Utley suggested Engineer? Snith and Gaarden should inspect
a possible site for such pmpe
Eotfan that the council go in%o executive session for dfscuxsion 02
matters relating to Country Club District Service Go. was made by
T;i3ra;f;P;, seconded by Ukley and carriede
Depreciation was discussed as relating to rates
It ms brought out that the difference in depreciatfon
Gaarden stated another mater
Utley offered the Palloming resolutian and moved Z-ts adoptions
RESOLUTIOl!T AND ORDER OF VII;ZS;Gl?i COU3JCIL
OF TEE VLrnG3 OF mINA I TEEREAS %he recent deoisian of the Supreme Court of Ennesota bears inports.n%ly upon the value of the properky nan being devoted by the Country Club District Service Company %GO the public service in %he Village of Edina and upan %he rates and charges nan being made and collected by safd Company for providing such mater
and service, and
and charges non being made by said n'tiility are not just and reason- able, and
TLEDZXi3AS it appears to the Village Council that the rates . .
VHE@EAS the Couhcilhas given due not-iee of iPis metings and its purpose to the Country Club District Service Company and its
President, Oscar GaEtrden has appeared and has been heard at tao for- mal meetings and various intermediate meetings and conferences vZth
a special committiee, md
Y1-S tihe Council has had the a&d of exyert opinion .upon the matter of the valuation of the property awned by the utility.,
and the
all
the
all
mu9 THJEaBOm$ m m FaSOLrn:
Io
That' the Council hereby finds each and all crf %he frzcts figures set forth on the attaclzed exb5'bf-h to be %rue and adapts
same as its findings herein; that upon careful consideration of such findings, embracing the historical co8tS less deprecfation,
reproduction CQS~, less depreciation, the finzncial htstory and
athm m1emn-k fac%s, the Council hereby determines the fair present value crf %he properties OR ormed b$ the Country Club District
Semiae Company 2nd devoted to tihe publlc service, including an adequate all.avance far norking ezapital, to he the BUM af Fifty
ThousanG Dollaxs [~50,080e00)0
...
. The Council fareher finds that an annual return of six per cent (6%) on the faSr value a2 the properEy of %he Country Club Distric€ Service Company, used and Useful, in supplying mate2 service in the Billage af Xdina 2s fair, teaxana%Pe and adequate,
I91
The Oouncfl fwthep finds %ha% %he sum af Five Thousaad . Bollam ($5,OaO,OO) is st fair and adequate allawance as andax- nork- ing capital to meet curreaC aperating expenses and maintain necessary invenkmies af meters, office supplies, equipmen%, e%c.
IV
TEzat the Pates and charges now being made for wa-k-e~ ana water service by the utility to the village residents are nr9.i; just
and reasonable, and that in the interest of the public should be
revised dommrd,
I
That propes provision far adequate depreciation resemes ,
all proper apera%ing expenseo and. far ir; six per cent (6%) net retrxm on the fair pFesent 'value of the Service Company*s proper€y will be fairly provided for by an annual yield of $16,560.00, based on an average yew* s sales through approximately 900 meters presently Connected.
VI
ThaB the abesve requfrements will be produced through the followi~ rate schedule which is hereby adopted and mhich the Compasly
is hemby ordemd and directed to place into effect and Qa chwge and
ta collect:
R&rn scmm
A. A semice charge of 60 cents per meter per month,
02 $1.80 per quarter, shall be made in lieu of any athet minimum
chaxge
13, A mter chege, as indicated by meters, shall be msde
at the rate of 9Q cent& Fer: 108 cubic feet.
Item B will be subject to a discom* of ten pep cent (10%) fop paymen6 ~iithin %en days after billing date.
C. ?%.at said sate change shall be effective as of
Jranuapy 1, 1940 and that the Service Company 2s hereby ordered and 'directed to pefund -bo each and all of its customers, the difference be%meen actual colls&ians and the amom% %hat =auld have been
and that viithout regard to such refunds, or any delay In the making of same, QP to any controvepsies ar disputes that may arise by reasan of the reiiroactive provisions of %his pate, the Village
,@otzncil, without miver af its right %a claim said reflands ts be made to its customers, hereby orders and directs that the above rates be placed in effeet farthwia, and that all charges made for water and semices furnished aftep January 1, 1945, shall be com- puted; billed. and colleeted a% sa,id new rates,
(Attached Exhibgt 1 EXHIBIT A
1)
, colleated had the above rates aefiually been in effecf an that date;
'
The miginal construction cos_t of the entire water
~zorka system in %he Village of Edina, used and
The narmsel repmdaction cost of %he entire property
The value of the en%ire pPoperty as af Jwuwry lr
1944, based on wiginal cos% leas depreciadiian is
useful as af Januezg 1, 1944, mas $1619345.03
2)
3)
woald be $153,50Ot08
$150,969.35
The value of the entire propes-tig, as of January Xp
1944, based an noPra&l* kepro8u6%ior-cpsf* lese-det.: precia=nn is
The total original mnstruction cost of improve-
nerzts ad extensions built by the ffounkry Club . Bistrrict Service Coupany, subsequene to 1935 has been
The normal reproductian cast of the improvements
and ex-bensions described in Item 5 rrotrld be
The value of this property (Item 5) as of
January I, 1944, ’based on original cost less depreciation is
The value af this praperty (Item 5) as of
January lo 1944, based on reproduction cost less depreciation is
The unamortized portion of the invesknent
by the C.C.D.S. Coo in property built sub- sequent to 1935 is (Ilia 5 less acarued depreciation reservks from Service 00 audita)
Of lihe above mount %ontributians in aid of constructionIt have accounted fot
The ne€ investuent of the CoC.DoSo Coo fn
property built subsequen-ti to 1935 ia
Preferred stack af the Ct.C.D.So Co. vas issued
to Thorpe Erose Coo for the pmported purchase
af propepty built prior to 1936 by Thorpe Bras, the validity of xhich is not admitted by the Village of Edina, to €he extent af
Earnings and accrued depreciation reserveso realized by the O.C.DoS. Coo since 1936, by virtue of said company having improperly capitalized property belawing eo the Village,
and by virtue of delays in court and other proceedings necessary to a propep detemin- tion af ocnemship and fair values have been
excessive, when measured by fair and proper returns, by more than
Of the above sum (Item 13) the excessive amounts reelfzed since instSgation of the 1940 litigation
amounts to appraxililately
-, - c
3 ._ .*
$119 ,841 0 00
$ 62,581.00
$ 21,i300.00
G 11,000.00
Eotion t-o adopt the resolution vas on rollcall there mere fire ayes and no nays,
Vyat-b, aye; Hjv-tihorne, aye; Todd,
I Vyate offelred the follaning resolufiion and moved fts adoption:
apppoves and endorses S. 3F. 274 and He Po 241 ppoviding for the division
of recefpts from gross eamiags taxes wikh counties and municipalities.
RESOL=, that the Pillage Council of the Village of Edlna hereby
RI~SCIL~, FUXEZEXt, that the Council earnestly commends these bilk
.E;o the Hon, Archie Eiller and the Eon, George R. TJatchan, Senatop and
Respr es‘enta”c;fve respectively, for their favorable consideratian.
Eotian %o adopt %he resolution Ras se on rollcall $here cere fTve ayes Elnd no nays, as
Vyatt, aye; Hawthorne, aye’; Todd, opted,
Villson, aye;
/ 33 L
Eation to adjourn was, made .by Haxtharne, seconded by Vi11soaZ and camied.
ZmS OF THE REGULAR 3Bm3TG
03' THE: BDINA VfmGX COUITCZL
EEGD IT$ %fUXGE HAIX AT 8 PoIE";.
FEBRUStY 12, 1945
Bow membep.s of the ca-rancil were present: Utley, Villson, Vyatt Etnd &&home Vystfi presided.
HEnu%es af €he regular" cssuncil meeking held Sanuary 8, 1945, and the
regular council rneekine; held January 22% 2945, mere read and approved, I
Bids =ere received on a tractor and Loader in accordance with published advertisements. Bidders were VilLiem ZjEegler Coo, offerdng equipment
at cos% of $2,250, and Thorman I?. Rosholt Co., offering equipment at
COB% of $2,373.77, vtTLE%h aptianal equipment at cas6 of $95.45, Eofiion
to refer %he bids tcr th? village manager for tabulafiiorz. was made by
Villson, seconded by UtLey and earried,
. Kation €a approve. and alloa the fallonring bills was made by Villson, seconded by Utleg and carried': General Fund - Rame Claim No. AmOMnt Young Fuel Company 2766 8 69.90 Uthur Pet ersen 2767 488 25
Xi1 ler-Daui s Company 2769 21.09 Eirine sota Fir e Equipment Co a 2720 5.20
Snap-On Tools Gorp oratian - 2771 SP.00 Orfei and Eariani 27 72 10.00 Joyce Insurance, Inc. 2773. 75. 00 Phil fl, Smith 27 74 50 000 Blackburn, Xickels & Smith, Ine. 2775 17.50
Chaill Grocery 2776 2.00 Einnezpolis Gas Eight Company 21'27 112.00
Dahlbepg Bras Inc. 2768 46.86
Borey's Shell Station 27 78 66.25
Xorthwest ern Terminal eorrrpany 27 8Q 14.52 Firestone Service Stores 2781 3.15
I
Einneapolis Blueprinking Go . 27 79 8.07
Hilding I>&l I 2782 J 10.00
D-ki Lubri cants Company 2783 42.66 Linde-Air Producks Company 2784 16-69 Phillips 'Petrolem Co. 21 85 15.05
A. VI Tisde1 2786 5.85
Edi na Eardwwe Company 2'288 4061
Gardlmdl s 2789 7-88 Northtxest ern Bell Telephone Coo ' 2'690 38.95
V~I. He Zisgler Company, Incr 2995 3.69
Ed. Harx5.s Servfce Staeion 27 96 83.25
No~.€hern States Power Company 2298 677.80
StaZe of Xiinnesota, 2800 3.4 . 00
* Bud Brooks Fare Oil Statim 280 3 97.57 General True% & Equipmen% Go. 2804 3,098.00
Don J. XcCleZlan 2833 12.00 Geo. T. Shilsan 28 34 8075 $5,157.54 I Subarban Hennepin Coanty Relief Bd. I 2197
Poor Fun5
$129 20 ,129 020
J.S.B. #i puna Park Xaohine Company 2787 8 13.52
Edina mdmmi 2788 . 50 Galand' ~t 2789 12.62 PTorthwesterri Bell Telephone Coo * 2790 50 CraYre Company 27 92 25. 11 (Continued 0x1 Page 34)