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Council member introduced the following resolution and moved its <br />adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 98 -119 <br />RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND UNIT FUND <br />TO THE 1992 A G.O. IMPROVEMENT BOND FUND TO ELIMINATE <br />THE DEFICIT <br />WHEREAS, The 1992 Bond Fund has a deficit balance, and <br />WHEREAS, these bonds were originally sold to finance the West Central Trunk, and <br />WHEREAS, in 1995, funds were transferred to the Area and Unit Fund from TIF funds to defray <br />the cost of the trunk, and <br />WHEREAS, the transfer is to cover bond payments only. <br />NOW THEREFORE BE IT RESOLVED: That the following transfer be adopted. <br />Increase Decrease <br />Imp. Bonds 1992A (309) $419,000 <br />Area and Unit Fund (406) ($419,000) <br />Adopted by the Lino Lakes City Council this 27th day of July 1998. <br />Kimberly A. Sullivan -Mayor <br />Marilyn G. Anderson, Clerk- Treasurer <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member <br />and upon vote being taken thereon, the following voted in favor thereof: <br />The following voted against same: <br />Where upon said resolution was declared duly passed and adopted: <br />