HomeMy WebLinkAbout2001-189 Council ResolutionCERTIFICATION OF RESOLUTION NO. 01-189
STATE OF MINNESOTA )
COUNTY OF ANOKA )
CITY OF LINO LAKES )
I, the undersigned, being the duly qualified City Clerk of the City of Lino Lakes,
Minnesota, do hereby certify that the attached document is a true copy of Resolution No.
01-189 with the original thereof on file in the City Clerk's office, and the same is a full,
true and complete copy insofar as the same relates to:
RESOLUTION NO. 01-189 AUTHORIZING THE TRANSFER OF FUNDS FROM
THE AREA AND UNIT FUND TO THE WATER OPERATING FUND FOR
PAYMENT OF 1996B G.O. WATER REVENUE BONDS.
Witness my hand as said City Clerk and the Corporate Seal of the City this 11th day of
December, 2001.
Ann J. lair, City Clerk
(SEAL)
600 Town Center Parkway, Lino Lakes, Minnesota 55014-1182
Phone: 651-982-2400 • Fax: 651-982-2499 • TDD: 651-982-2410
Council member Dahl introduced the following
resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 01-189
RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE AREA AND
UNIT FUND TO THE WATER OPERATING FUND FOR PAYMENT OF 1996B G.O.
WATER REVENUE BOND
WHEREAS, a transfer was budgeted in 2001 to the Water Operating Fund from the Area
and Unit Fund to cover principal and interest on the 1996B G.O. Water
Revenue Bonds due in 2001, and
WHEREAS, it is staff's recommendation that this transfer be completed effective
December 31, 2001.
NOW, THEREFORE BE IT RESOLVED by the City Council of Lino Lakes, that the
following transfer be authorized and recorded effective December 31, 2001:
Increase Decrease
Water Operating Fund (601) $307,650
Area and Unit Fund (406) ($307,650)
Adopted by the City Council of Lino Lakes this 10th day of December, 2001.
JohnBerges`on, Mayor
Ann Blair, City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by Council
Member Ca*-1son and upon vote being taken thereon, the following voted in
favor thereof:
Reinert, Dahl, Bergeson, Carlson & O'Donnell
The following voted against same:
None.
Where upon said resolution was declared duly passed and adopted:
AGENDA ITEM 1C
STAFF ORIGINATOR Al Rolek
MEETING DATE 12/10/01
TOPIC Resolution No. 01-189 Authorizing the Transfer of funds
from Area and Unit Fund to the Water Operating Fund
VOTE REQUIRED Simple Majority
BACKGROUND
Each year a transfer is budgeted from the Area and Unit Fund to the Water Operating
Fund to pay principal and interest on the 1996B G.O. Water Revenue Bonds. This
transfer is a part of the funding mechanism set up in the original bond documents. The
amount of the transfer is $307,650. It is staff's recommendation that Council authorize
this transfer as budgeted.
OPTIONS
1. Adopt Resolution 01-189 transferring funds from the Area and Unit fund to the
Water Operating Fund.
- 2. Refer back to Staff for further consideration.
3. Deny Resolution 01-189.
RECOMMENDATION
Option 1