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Council member Elliott introduced the <br />following resolution and move its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 95 - 13 <br />RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND UNIT FUND <br />TO THE WATER ENTERPRISE FUND <br />WHEREAS, bonds were sold to finance the water tower, and <br />WHEREAS, the funds to pay for the debt are accounted for in the <br />Area and Unit Fund, and <br />WHEREAS, the City's Bond Counsel recommends an annual transfer to <br />cover the bond payments, and <br />WHEREAS, the bond payment for 1994 was $91,547.50. <br />NOW THEREFORE BE IT RESOLVED, that the following transfer be made <br />effective December 31, 1994. <br />Increase Decrease <br />Water Enterprise (601) $91,548 <br />Area and Unit Fund (406) ($91,548) <br />Adopted by the City Council of Lino Lakes this 23rd day of January, <br />1995. <br />Vernon F. Reinert - Mayor <br />C a� (ids tom" <br />Marilyn Anderson, Clerk Treasurer <br />The motion for the adoption of the foregoing resolution was duly <br />seconded by Kuether and upon vote being taken <br />thereon, the following voted in favor thereof: Bergeson, Elliott, <br />Kuether, Neal, Reinert. <br />The following voted against same: none. <br />Where upon said resolution was declared duly passed and adopted: <br />