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• <br />• <br />• <br />Council Member t`� introduced the following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 07 -196 <br />RESOLUTION APPROVING TRANSFERS FOR INSTALLMENT PAYMENT ON <br />INTERFUND LOAN FOR RECREATION COMPLEX LAND <br />WHEREAS, in 1999 the City purchased land for the purpose of creating a recreation complex, <br />and; <br />WHEREAS, a temporary interfund loan was made from the Area and Unit Fund (406) to the <br />Dedicated Parks Fund (405) for the purchase of said land, and; <br />WHEREAS, the City Council to approved Resolution 06 -212 providing for a plan to repay the <br />interfund loan. <br />NOW, THEREFORE, BE IT RESOLVED, by the Lino Lakes City Council that the following <br />transfers are approved to pay the 2007 installment on the Recreation Complex Interfund Loan: <br />From To Amount <br />General Fund Dedicated Parks Fund $50,000.00 <br />Dedicated Parks Fund Area and Unit Fund $100,000.00 <br />Adopted by the Lino Lakes City Council this 26th day of November, 2007. <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 />Whereupon said resolution was declared duly passed and adopted. <br />a ne Bartell, Cit Cle <br />onnell, Acting Mayor <br />Adopted by the Lino Lakes City Council this 26th day of November, 2007. <br />The motion for the adoption of the foregoing resolution was duly seconded by <br />Council Member Stoltz and upon vote being taken thereon, the following voted in <br />favor thereof: <br />Carlson, Stoltz, O'Donnell, Reinert <br />The following voted against same: <br />None (Absent — Bergeson) <br />