01-0854R

RESOLUTION APPROVING THE FISCAL YEAR JANUARY 1, 2002, TO DECEMBER 31, 2002, BUDGET OF THE DULUTH STEAM DISTRICT NO. 2.

BY COUNCILOR HOGG:

        RESOLVED, that the operating budget for the fiscal year January 1, 2002, to December 31, 2002, for Duluth Steam District No. 2 in the amount of $7,401,619 is hereby approved.



STATEMENT OF PURPOSE: This resolution adopts the 2002 budget for Duluth Steam District No. 2. The finance committee reviewed steam district No. 2's budget at its November 15, 2001, meeting. The 2002 budget represents a decrease of $2,072,381 or -21.9% under the 2001 budget. The decrease is due to the retirement of the utility's debt.