1991-038 Council Resolution - Laserfiche WebLink

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CITY OF LINO LAKES RESOLUTION NO. 38 -91 RESOLUTION TRANSFERRING FUNDS FROM THE SEWER AND WATER ENTERPRISE FUND TO THE CONNECTION AND AREA CHARGE CAPITAL PROJECT FUND WHEREAS, the rate increase adopted by the City of Lino Lakes in June of 1988 anticipated a transfer of funds from the Sewer and Water Enterprise Fund to the Connection and Area Charge Capital Project Fund; and WHEREAS, the 1987 and 1989 bond sales projected revenue from a combination of connection fees, trunk area assessments and services, and WHEREAS, Resolution 01-88 established a Connection and Area Charge Capital Project Fund, and WHEREAS, Resolution 31-88 became effective with the second quarter billing in 1988, and WHEREAS, the City Clerk and City Engineer have determined that the amount to be transferred from the Sewer and Water Enterprise Fund to the Connection and Area Charge Capital Project Fund for the last half of 1990 is $19,920, and WHEREAS, the City's Fiscal Agent and the City's Auditor have recommended that a transfer be made each quarter from the Sewer and Water Enterprise Fund to the Connection and Area Charge Capital Project Fund. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LINO LAKES, MINNESOTA: 1. That the amount of $19,920 be transferred from the Sewer and Water Enterprise Fund to the Connection and Area Charge Capital Project fund. 2. The effective date of the transfer shall be December 31, 1990. 3. The City Clerk shall prepare a quarterly Tabulation of Sewer and Water Users, compute the amount to be transferred from the Sewer and Water Enterprise Fund to the Connection and Area Charge Capital Project Fund and prepare a resolution for said transfer for approval by the Lino Lakes City Council. Adopted by the Lino Lakes City Council this J `da of May, 1991. Anderson, Clerk -Treasurer Harold Bisel, Mayor