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CITY OF LINO LAKES RESOLUTION NO. 04-193 RESOLUTION AUTHORIZING FUND TRANSFERS TO AND CLOSING OF THE 1997 AND 1998 CONSTRUCTION FUNDS WHEREAS, in 1997 and 1998 the City Council approved improvement projects and awarded contracts for the realignment of Otter Lake Road and Service Road, Lakes Addition Street and Utilities, Lake Drive Trunk Utilities, Apollo Drive Phase III and 21st Avenue Utilities, and WHEREAS, such improvement projects have been completed and contracts have been finalized, and WHEREAS, funding for these projects was to have come from a variety of sources including bonds, general property taxes, Anoka County, transfers from the Area and Unit Fund and the Stormwater Management Fund, and future special assessments, and, WHEREAS, no transfers from the Area and Unit Fund and the Stormwater Management Fund for these projects have not been made to date, and WHEREAS, there remain deficits in the 1997 and 1998 Construction Funds relating to such improvement projects, and WHEREAS, it is in the best interest of the City to make such transfers and to close these project funds. NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Lino Lakes that: 1) The following operating transfers are hereby authorized: PROJECT Otter Lake Rd Realign Otter Lake Rd Realign Lakes Addn. Street & Utilities Lake Dr. Trunk Utilities 21st Ave. Utilities Apollo Dr. Phase III FROM FUND 406 422 101 406 406 422 2) Following such operating transfers, Funds 457 and balances transferred to Fund 406. TO FUND 457 457 458 458 458 458 AMOUNT $ 349,270.30 349,270.30 141,869.42 1,346,607.55 942,417.34 231,220.31 458 are to be closed, with any residual Adopted by the Lino Lakes City Council this 20th day of December, 2004. John J. Bergeson, Mayor Ann J. Blair, City Clerk