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Council Member introduced the fallowing resolution and moved its <br />adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 07 -201 <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE AREA AND <br />UNIT FUND TO THE 2003A G.O. IMPROVEMENT BOND DEBT SERVICE FUND <br />WHEREAS, the 2003A Bond Debt Service Fund has a deficit balance, and <br />WHEREAS, a portion of this issue refunded the original 1996A bond issue, and <br />WHEREAS, the refunded portion of this bond issue was originally sold to finance 1996 <br />Construction Projects, and <br />WHEREAS, resources of the Area and Unit Fund were pledged toward the retirement of <br />the 1996A bond issue. <br />NOW THEREFORE BE IT RESOLVED, that the following transfer be adopted: <br />Increase Decrease <br />Imp. & Refunding Bonds 2003A (324) $410,000.00 <br />Area and Unit Fund (406) $410,000.00 <br />The motion for the adoption of the foregoing resolution was duly seconded by Council <br />Member and upon vote being taken thereon, the following voted in favor <br />thereof: <br />The following voted against same: <br />Whereupon said resolution was declared duly passed and adopted. <br />Adopted by the City Council of Lino Lakes this 10th day of December, 2007. <br />John Bergeson, Mayor <br />Julianne Bartell, City Clerk <br />• <br />• <br />