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AGENDA ITEM <br />STAFF ORIGINATOR: Al Rolek, Finance Director <br />MEETING DATE: May 22, 2000 <br />TOPIC: Resolution No. 00-66 <br />Designation of Antenna Lease Revenue <br />VOTE REQUIRED: Simple Majority (3/5) <br />BACKGROUND: <br />The City of Lino Lakes annually receives revenue for the leasing of space for <br />telecommunications antennas. The accumulated balance at this time is estimated at <br />$121,258. At the May 10 City Council work session, staff presented recommendations <br />for the designation of antenna lease revenues. These included budget requests which <br />were omitted from the adopted 2000 budget due to funding limitations and items which <br />have risen subsequent to the adoption of the budget. The proposed uses of such revenues, <br />totaling $118,025, are detailed on the attached Resolution No. 00-66. The City Council <br />directed that this resolution be included on the next meeting agenda (May 22). Upon <br />adoption of this resolution, a formal budget amendment will be prepared for Council <br />consideration at a future meeting.. <br />OPTIONS: <br />1. Approve Resolution No. 00-66 <br />2. Deny Resolution No. 00-66 <br />3. Defer action to a subsequent City Council meeting. <br />RECOMMENDATION: <br />Staff recommendation is for Option 1. <br />