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• <br />Council Member Reinert introduced the following resolution and moved <br />its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 06 -203 <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE AREA AND <br />UNIT FUND TO THE WATER OPERATING FUND FOR PAYMENT OF 1996B G.O. <br />WATER REVENUE BOND <br />WHEREAS, a transfer was budgeted in 2006 to the Water Operating Fund from the Area <br />and Unit Fund to cover principal and interest on the 1996B G.O. Water <br />Revenue Bonds due in 2006, and <br />WHEREAS, it is staffs recommendation that this transfer be completed effective <br />December 31, 2006. <br />NOW, THEREFORE BE IT RESOLVED by the City Council of Lino Lakes, that the <br />following transfer be authorized and recorded effective December 31, 2006: <br />Increase Decrease <br />Water Operating Fund (601) $299,725 <br />• Area and Unit Fund (406) <br />• <br />$299,725 <br />Adopted by the City Council of Lino Lakes this 11th day of December, 2006. <br />e Bartell, Cit Cler <br />Joh► :erg _:on, ayor <br />The motion for adoption of the foregoing resolution was duly seconded by <br />Council Member O'Donnell and upon a vote being taken thereon the following <br />voted in favor thereof: Reinert, O'Donnell, Carlson, Stoltz, Bergeson. <br />The following voted against same: none. <br />