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Council member Bergeson introduced the following resolution and moved its <br /> adoption: <br /> CITY OF LINO LAKES <br /> RESOLUTION NO. 98-119 <br /> RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND UNIT FUND <br /> TO THE 1992 A G.O. IMPROVEMENT BOND FUND TO ELIMINATE <br /> THE DEFICIT <br /> WHEREAS,The 1992 Bond Fund has a deficit balance,and <br /> WHEREAS,these bonds were originally sold to finance the West Central Trunk, and <br /> WHEREAS, in 1995, funds were transferred to the Area and Unit Fund from TIF funds to defray <br /> the cost of the trunk, and <br /> WHEREAS,the transfer is to cover bond payments only. <br /> NOW THEREFORE BE IT RESOLVED:That the following transfer be adopted. <br /> Increase Decrease <br /> Imp. Bonds 1992A(309) $419,000 <br /> Area and Unit Fund (406) ($419,000) <br /> Adopted by the Lino Lakes City Council this 27th da ol 1998 <br /> Ki er A. V <br /> I' n-Mayor <br /> Marilyn d. Anderson, Clerk-Treasurer <br /> The motion for the adoption of the foregoing resolution was duly seconded by Council Member Lyden <br /> and upon vote being taken thereon,the following voted in favor thereof: Bergeson, Dahl, Lyden, <br /> Neal, Sullivan. <br /> The following voted against same: none. <br /> Where upon said resolution was declared duly passed and adopted: <br />