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142 <br />COUNCIL MEETING JANUARY 11, 1988 <br />RESOLUTION NO. 01 - 88 ESTABLISHING THE CONNECTION AND AREA <br />CHARGE FUND - RANDY SCHUMACHER <br />Mr. Schumacher explained that this resolution was prepared <br />by Voto, Reardon, Tautges, Ltd., Inc. to establish the <br />procedure for accounting for connection fees and area <br />charges. It will be reviewed on an annual basis. Mr. Bisel <br />moved to approve Resolution No. 01 - 88. Mr. Bohjanen <br />seconded the motion. Motion carried unanimously. Mrs. <br />Anderson read the resolution. <br />CITY OF LINO LAKES.__ <br />RESOLUTION NO. 01 - 88 <br />RESOLUTION TO ESTABLISH THE CONNECTION AND AREA CHARGE FUND <br />FOR THE CITY OF LINO LAKES, MINNESOTA <br />WHEREAS, the City has established various area and connec- <br />tion charges related to sewer and water availabil- <br />ity, and <br />WHEREAS, the revenues collected from such connection and <br />area charges are integral to funding specified <br />debt service which financed the available sewer <br />and water facilities, including trunk facilities, <br />and <br />WHEREAS, certain revenues collected from such connection <br />and area charges may be available for further <br />water <br />and sewer improvements, including major repairs <br />and the extension of services. <br />NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />LINO LAKES, MINNESOTA: <br />The City hereby establishes the Connectiion and Area Charge <br />Capital Project Fund to account for the various connection <br />and area charges collected by the City. The Fund will: <br />1. Maintain separate revenue accounts as required to <br />segregate collections based on commitments to specified <br />debt service funds and other designations as approp- <br />riate. <br />2. Record all direct expenditures and transfers as <br />approved by the City Council from specific designated <br />PAGE 8 <br />