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Council Member Elliott introduced the <br />following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NUMBER 95-29 <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE CLOSED BOND <br />FUND TO THE ESCROW FUND <br />WHEREAS; As of December 31, 1994, certain escows have negative <br />cash balances and have been determined to be <br />uncollectable and, <br />WHEREAS; A transfer must be made to cover the deficit escrows. <br />NOW THEREFORE BE IT RESOLVED, that $ 1,548.07 be transferred from <br />the Closed Bond Fund to the Escrow fund to cover the negative cash <br />balances as of December 31, 1994 (Apollo Business Center $56.95, <br />Reshanau escrow $636.70, Pond View $854.42 <br />Vernon Reinert, Mayor <br />Marilyn q. Anderson, City Clerk/Treasurer <br />The motion for the adoption of the foregoing resolution was duly <br />seconded by Bergeson and upon vote being taken <br />thereon, the following voted in favor thereof: Bergeson, Elliott, Neal, <br />Reinert. <br />The following voted against same: None. Council Member Kuether was absent. <br />