Laserfiche WebLink
City of Lino Lakes, Minnesota <br />Management Report, Page 27 <br />Construction Funds <br />Lakes Addition #7 <br />Lakes Addition #7 has had the following transactions from inception: <br />Miscellaneous Revenue <br />Developer reimbursement <br />1982 and 1983 and <br />Prior 1984 1985 1986 Total <br />$ 183 $ -0- $ -0- $ 102 <br />18,285 $ 18,570 <br />Preliminary Construction Costs $ 22,767 -0- $ 91 $ 13,000 35,858 <br />Fund balance (deficit) - December 31, 1986 $(17,288) <br />The above deficit primarily relates to the loss of a lawsuit regarding development. <br />We recommend that the City designate a financial source and eliminate this fund in 1987. <br />Baldwin Lake Mobile Home Court <br />This project was financed by the $100,000 Improvement Bonds of 1983. The project <br />consisted of installations of sewer service lines to the mobile home court. The project <br />was completed and assessed in 1983. The fund is carrying a liability to MWCC for sewer <br />availability charges of $24,400. We recommend that the City remit this money to MWCC in <br />1987. <br />This project is complete at December 31, 1986. We recommend that this fund be <br />closed in 1987 to the Improvement Bonds of 1983 Debt Service Fund. Council authoriza- <br />tion is required to effect this closing. <br />Tomahawk Trail/Weber's Addition <br />The City completed this sanitary sewer project in 1985. The project was assessed in <br />1985. <br />This project was bonded for in 1985 with the Rice Lake Estates Project. We recom- <br />mend that this fund be closed in 1987 to the Improvement Bonds of 1985 Debt Service <br />Fund. Council authorization is required to effect this closing. <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 />1 <br />