HomeMy WebLinkAbout2014-146 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 14-146
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 from the General Fund and Dedicated Parks Fund.
NOW, THEREFORE, BE IT RESOLVED, by the Lino Lakes City Council that the
following transfers are approved to pay the 2014 installment on the Recreation Complex
Interfund Loan:
From To Amount
General Fund Dedicated Parks Fund $50,000.00
Dedicated Parks Fund Area and Unit Fund $100,000.00
Adopted by the Council of the City of Lino Lakes this 8th day of December, 2014.
The motion for the adoption of the foregoing resolution was introduced by Council
Member Roeser and was duly seconded by Council Member Ku s terman and
upon vote being taken thereon, the following voted in favor thereof:
Roeser, Kusterman, Rafferty, Reinert
The following voted against same:
none (Absent - Stoesz)
ATTEST:
14,
J ' nne Bartell, City lerk
ceir Reine
or
CITY COUNCIL
AGENDA ITEM 1F
STAFF ORIGINATOR Al Rolek
MEETING DATE 12/8/14
TOPIC Consideration of Resolution No. 14-146 Approving
Transfers For Installment Payment on Interfund Loan For
Recreation Complex Land
VOTE REQUIRED Simple Majority
BACKGROUND
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. 14-146
approves the transfers necessary to make the 2014 installment of the approved repayment
program.
RECOMMENDATION
Staff recommends approval of Resolution No. 14-146.
ATTACHMENTS
Resolution 14-146.