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CITY OF LINO LAKES <br />RESOLUTION NO. 04 -188 <br />RESOLUTION AUTHORIZING THE CLOSING OF 1996A IMPROVEMENT BONDS DEBT <br />SERVICE FUND <br />WHEREAS, the 1996A Improvement Bonds Debt Service Fund (Fund 314) was established to <br />account for debt service payments on the G.O. Improvement Bonds Series1996A by <br />the City of Lino Lakes, and <br />WHEREAS, the G.O. Improvement Bonds Series1996A have been refinanced with the G.O. <br />Improvement and Refunding Bonds, Series 2003A, and <br />WHEREAS, it is standard accounting practice to close refunded debt service funds to the new <br />debt service fund of the refunding issue in accordance with generally accepted <br />accounting principals. <br />NOW, THEREFORE BE IT RESOLVED by the City Council of Lino Lakes, that staff is hereby <br />authorized to close the following fund and to make residual fund transfers to the associated debt <br />service fund as follows: <br />Funds to be Closed Funds Receiving Residual transfers <br />Imp Bond 1996A Debt Service Fund (Fund 314) Imp and Refunding Bond 2003A Debt <br />Service Fund (Fund 324) <br />Adopted by the City Council of Lino Lakes this 20th day of December, 2004. <br />John Bergeson, Mayor <br />Ann Blair, City Clerk <br />