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CITY OF LINO LAKES <br />RESOLUTION NO. 04-193 <br />RESOLUTION AUTHORIZING FUND TRANSFERS TO AND CLOSING OF THE 1997 AND <br />1998 CONSTRUCTION FUNDS <br />WHEREAS, in 1997 and 1998 the City Council approved improvement projects and awarded <br />contracts for the realignment of Otter Lake Road and Service Road, Lakes Addition Street and <br />Utilities, Lake Drive Trunk Utilities, Apollo Drive Phase I11 and 21st Avenue Utilities, and <br />WHEREAS, such improvement projects have been completed and contracts have been <br />finalized, and <br />WHEREAS, funding for these projects was to have come from a variety of sources including <br />bonds, general property taxes, Anoka County, transfers from the Area and Unit Fund and the <br />Stormwater Management Fund, and future special assessments, and, <br />WHEREAS, no transfers from the Area and Unit Fund and the Stormwater Management Fund <br />for these projects have not been made to date, and <br />WHEREAS, there remain deficits in the 1997 and 1998 Construction Funds relating to such <br />improvement projects, and <br />WHEREAS, it is in the best interest of the City to make such transfers and to close these project <br />funds. <br />NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Lino Lakes that: <br />1) The following operating transfers are hereby authorized: <br />PROJECT FROM FUND TO FUND AMOUNT <br />Otter Lake Rd Realign 406 457 $ 349,270.30 <br />Otter Lake Rd Realign 422 457 349,270.30 <br />Lakes Addn. Street & Utilities 101 458 141,869.42 <br />Lake Dr. Trunk Utilities 406 458 1,346,607.55 <br />21st Ave. Utilities 406 458 942,417.34 <br />Apollo Dr. Phase III 422 458 231,220.31 <br />2) Following such operating transfers, Funds 457 and 458 are to be closed, with any residual <br />balances transferred to Fund 406. <br />Adopted by the Lino Lakes City Council this 20th day of December $04 <br />John .. Berg :on, Mayor <br />Ann J. Blair, City Clerk <br />