HomeMy WebLinkAbout2010-109 Council Resolution•
41)
Council Member Gallup introduced the following resolution and moved its
adoption:
CITY OF LINO LAKES
RESOLUTION NO. 10 -109
RESOLUTION APPROVING TRANSFERS FOR INSTALLMENT
PAYMENT ON INTERFUND LOAN FOR RECREATION COMPLEX LAND
WHEREAS, in 1999 the City purchased land for the purpose of creating a
recreation complex, and;
WHEREAS, a temporary interfund loan was made from the Area and Unit Fund
(406) to the Dedicated Parks Fund (405) for the purchase of said land, and;
WHEREAS, the City Council to approved Resolution No. 06 -212 providing for a
plan to repay the interfund loan.
NOW, THEREFORE, BE IT RESOLVED, by the Lino Lakes City Council that the
following transfers are approved to pay the 2010 installment on the Recreation
Complex Interfund Loan:
From To Amount
General Fund Dedicated Parks Fund $55,000.00
Dedicated Parks Fund Area and Unit Fund $100,000.00
Adopted by the Lino Lakes City Council this 13th day of December, 2010.
The motion for the adoption of the foregoing resolution was duly seconded by
Council Memberp,Pspr and upon vote being taken thereon, the following
voted in favor thereof:
Gallup, Roeser, Rafferty, O'Donnell, Reinert
The following voted against same:
vvnereupon said resolution was declared duly pa
Ju i. nne Bartell, 1 ity Clerk
d and ad
Jeff Re; e , : yor
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AGENDA ITEM 1G
STAFF ORIGINATOR Al Rolek
MEETING DATE 12/13/10
TOPIC Consideration of Resolution No. 10 -109 Approving Transfers For
Installment Payment On Interfund Loan For Recreation Complex
Land
VOTE REQUIRED
Simple Majority
The City Council approved Resolution No. 06 -212 providing for the repayment of the interfund loan
for the Recreation Complex land. The attached Resolution No. 10 -109 approves the transfers
necessary to make the 2010 installment of the approved repayment program. Staff recommends
approval of Resolution No. 10 -109.
1. Approve Resolution No. 10 -109.
2. Refer to Staff for further review.
3. Deny Resolution No. 10 -109.
Option 1