HomeMy WebLinkAbout2012-121 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 12 -121
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 2012 installment on the Recreation Complex
Interfund Loan:
From To Amount
General Fund Dedicated Parks Fund $100,000.00
Dedicated Parks Fund Area and Unit Fund $100,000.00
Adopted by the Council of the City of Lino Lakes this 10th day of December, 2012.
The motion for the adoption of the foregoing resolution was introduced by Council
Member
Roeser and was duly seconded by Council Member Ra££erty and upon
vote being taken thereon, the following voted in favor thereof:
Roeser, Rafferty, O'Donnell, Stoesz, Reinert
The following voted against same:
none
ATTEST:
Ju anne Bartell, City Clerk
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STAFF ORIGINATOR
MEETING DATE
TOPIC
VOTE REQUIRED
BACKGROUND
CITY COUNCIL
AGENDA ITEM 1G
Al Rolek
December 10, 2012
Consideration of Resolution No. 12 -121 Approving
Transfers For Installment Payment On Interfund Loan For
Recreation Complex Land
Simple Majority
In 2006, the City Council approved Resolution No. 06 -212 providing for the repayment of
the interfund loan for the purchase of the Recreation Complex land. The attached
Resolution No. 12 -121 approves the transfers necessary to make the 2012 installment of the
approved repayment program.
RECOMMENDATION
Staff recommends approval of Resolution No. 11 -122.
ATTACHMENTS
Resolution 12 -121.