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Council member Neal introduced the following <br />resolution and move its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 95-171 <br />RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND <br />UNIT FUND TO THE WATER ENTERPRISE FUND <br />WHEREAS, bonds were sold to finance the water tower, and <br />WHEREAS, the funds to pay for the debt are accounted for in the Area and Unit Fund, <br />and <br />WHEREAS, the City's Bond Counsel recommends an annual transfer to cover the bond <br />payment, and <br />WHEREAS, the bond payment for 1995 was $104,565.00 <br />NOW THEREFORE BE IT RESOLVED, that the following transfer be authorized: <br />Increase Decrease <br />Water Enterprise (601) $104,565 <br />Area and Unit Fund (406) ($104,565) <br />Adopted by the City Council of Lino Lakes this 1 lth day of December 1 <br />Vernon F. Reinert - Mayor <br />- (L'1.,r c`4_ <br />Marilyn G. Anderson, Clerk Treasurer <br />The motion for the adoption of the foregoing resolution was duly seconded by Bergeson <br />and upon vote being taken thereon, the following voted in favor thereof: Bergeson, <br />Elliott, Kuether, Neal, Reinert. <br />The following voted against same: None. <br />Where upon said resolution was declared duly passed and adopted: <br />