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r <br />CITY OF LINO LAKES <br />RESOLUTION NO. 03-171 <br />RESOLUTION AUTHORIZING THE CLOSING OF 1996 CONSTRUCTION CAPITAL <br />PROJECTS FUND <br />WHEREAS, the 1996 Construction Fund (Fund 456) was established to account for projects <br />undertaken by the City of Lino Lakes, and <br />WHEREAS, the projects associated with the 1996 Construction Fund (Fund 456) have been <br />completed and contracts have been closed and said funds are inactive, and <br />WHEREAS, it is standard accounting practice to close inactive funds, and <br />WHEREAS, such funds are closed either to an associated debt service fund or to the fund from <br />which the funding for the related projects originated in accordance with generally <br />accepted accounting principals. <br />NOW, THEREFORE BE IT RESOLVED by the City Council of Lino Lakes, that staff is hereby <br />authorized to close the following fund and to make residual fund transfers to the associated debt <br />service fund as follows: <br />• Funds to be Closed Funds Receiving Residual transfers <br />1996 Construction Fund (Fund 456) Imp Bond 1996A Debt Service Fund (Fund <br />314) <br />Adopted by the City Council of Lino Lakes this 13th day of October, 2003. <br />Ann Blair, Qiyy Clerk <br />• <br />John Bergesen, Ma or <br />