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City of Lino Lakes, Minnesota <br />Management Report, Page 31 <br />74th Street <br />This fund was established in 1987 to account for improvements on 74th Street. This project <br />had not been approved and will not be constructed. This fund had an accumulated deficit of $925. <br />The City funded this deficit and effectively closed the fund through a transfer from the Closed <br />Bond Fund in 1988. <br />1160 Main Street <br />This fund was established in 1987 to account for costs associated with the repairs of a failed <br />septic system. This project was assessed in 1988. This fund has a deficit of $11,324 at December <br />31, 1988. This deficit will be eliminated through special assessment collections. <br />2nd Avenue <br />This fund was established in 1987 to account for costs associated with the installation of storm <br />sewers and road construction on 2nd Avenue. A portion of the costs for this project will be funded <br />by MSA allotments in addition to special assessments and tax increment collections. <br />Ash Street Sewer <br />The City established this fund in 1987. Funding was provided by the 1988 Improvement <br />Bonds. We recommend that this fund be closed into the 1988 Improvement Bond Debt Service <br />Fund in 1989. Council authorization is required to effect this closing. <br />Projects Financed by the Temporary Bonds of 1988 <br />Fund Balance <br />December 31, 1988 <br />D. Erickson's 2nd Phase $60,079 <br />Reshanau 2nd Phase 47,125 <br />$107,204 <br />The above projects are in various stages of completion at December 31, 1988. D. Erickson's <br />2nd Phase was assessed in 1989. Reshanau 2nd Phase will be completed and assessed in 1989. <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />