03/12/2001 Council Packet - Laserfiche WebLink

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• • Council member introduced the following resolution and move its adoption: CITY OF LINO LAKES RESOLUTION NO. 2001 -44 RESOLUTION AUTHORIZING THE CLOSING OF 1994 AND 1995 CONSTRUCTION CAPITAL PROJECTS FUNDS WHEREAS, WHEREAS, the 1994 Construction Fund (Fund 454) and the 1995 Construction Fund (Fund 455) were established to account for projects undertaken by the City of Lino Lakes, and the projects associated with the 1994 Construction Fund (Fund 454) and the 1995 Construction Fund (Fund 455) have been completed and contracts have been closed and said funds are inactive, and WHEREAS, it is standard accounting practice to close inactive funds at the end of an accounting period, and WHEREAS, such funds are closed either to an associated debt service fund or to the fund from which the funding for the related projects originated in accordance with generally accepted accounting principals. NOW, THEREFORE BE IT RESOLVED by the City Council of Lino Lakes, that staff is hereby authorized to close the following funds and to make residual fund transfers to the associated funds effective December 31, 2000 as follows: Funds to be Closed 1994 Construction Fund (Fund 454) to 1995 Construction Fund (Fund 455) to Funds Receiving Residual transfers Area and Unit Fund (Fund 406) Area and Unit Fund (Fund 406) Adopted by the City Council of Lino Lakes this 12th day of March, 2001. John Bergeson, Mayor Ry -Chel Gaustad, CMC City Clerk The motion for the adoption of the foregoing resolution was duly seconded by Council Member and upon vote being taken thereon, the following voted in favor thereof: The following voted against same: Where upon said resolution was declared duly passed and adopted.