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2003-190 Council Resolution
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2003-190 Council Resolution
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7/30/2015 1:20:57 PM
Creation date
7/30/2015 9:34:32 AM
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City Council
Council Document Type
Resolutions
Meeting Date
10/27/2003
Council Meeting Type
Regular
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RESOLUTION 03-190 <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM TAX <br />INCREMENT FINANCING DISTRICT 1-4 (FUND 410) TO TAX <br />INCREMENT FINANCING DISTRICT 1-6 (FUND 412) <br />WHEREAS, Tax Increment Financing District 1-4 has fulfilled all contracted <br />obligations and was decertified on March 26, 2000; and <br />WHEREAS, Tax Increment Financing District 1-4 (Fund 410) has an <br />uncommitted fund balance of $47,243; and <br />WHEREAS, such excess funds in Tax Increment Financing District 1-4 (Fund <br />410) are available for use for certain expenses in other TIF districts; and <br />WHEREAS, Tax Increment Financing District 1-6 (Fund 412) has fulfilled all <br />contracted obligations and has a current fund deficit of $14,527; and <br />WHEREAS, it is the intent of the City Council of Lino Lakes to eliminate the <br />deficit in Tax Increment Financing District 1-6 (Fund 412) in order to decertify the <br />District. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino <br />Lakes, Minnesota that a transfer of funds is hereby authorized as follows to eliminate <br />the deficit in Tax Increment Financing District 1-6 (Fund 412): <br />From To <br />TIF District 1-4 (Fund 410) $14,527 TIF District 1-6 (Fund 412) $14,527 <br />Adopted by the Lino Lakes City Council the 27th day of October 2003. <br />J n J. rge on, Mayor <br />( <br />Ann BI9ir, City Clerk <br />
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