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• <br />Council Member GALLUP introduced the following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 11 -120 <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE AREA AND UNIT <br />FUND TO THE 2005B G.O. IMPROVEMENT BOND DEBT SERVICE FUND <br />WHEREAS, the 2005B Bond Debt Service Fund has a deficit balance; and, <br />WHEREAS, a portion of this issue refunded the original 1998A bond issue, and <br />WHEREAS, these bonds were originally sold to finance 1997 and 1998 Construction Projects, <br />and <br />WHEREAS, resources of the Area and Unit Fund were pledged toward the retirement of the <br />1998A Bond issue. <br />NOW THEREFORE BE IT RESOLVED, that the following transfer be adopted: <br />Increase Decrease <br />• Imp. Bonds 2005B (328) $396,012 <br />Area and Unit Fund (406) <br />$396,012 <br />The motion for the adoption of the foregoing resolution was duly seconded by Council Member _ <br />o pon vote being taken thereon, the following voted in favor thereof: <br />Gallup, O'Donnell, Rafferty, Roeser, Reinert <br />The following voted against same: <br />none <br />Whereupon said resolution was declared duly passed and adopted. <br />Adopted by the City Council of Lino Lakes this 28th day of <br />Juliann Bartell, City Clerk <br />Jeff Reinert, a <br />