HomeMy WebLinkAbout1990-054 Council ResolutionCouncil Member Reinert
and moved its adoption:
introduced the following resolution
CITY OF LINO LAKES
RESOLUTION NO. 54 - 90
RESOLUTION TRANSFERRING FUNDS FROM THE SEWER AND WATER
ENTERPRISE FUND TO THE CONNECTION AND AREA CHARGE CAPITAL
PROJECT FUND
WHEREAS: the rate increase adopted by the City of Lino Lakes
in June of 1988 anticipated a transfer of funds
from the Sewer and Water Enterprise Fund to the
Connection and Area Charge Capital Project Fund,
WHEREAS: the 1987 and 1989 bond sales projected revenue from
a combination of connection fees, trunk area
assessments and service charges,
WHEREAS: Resolution No. 01 - 88 established a Connection and
Area Charge Capital Project Fund,
WHEREAS: Resolution No. 31 - 88 became effective with the
second quarter billing in 1988,
WHEREAS: the City Clerk and City Engineer have determined
that the amount to be transferred from the Sewer
and Water Enterprise Fund to the Connection and
Area Charge Capital Project Fund for 1988 is
$11,925.00, for 1989 is $29,320.00 and for the
first half of 1990 is $19,200.00.
WHEREAS: the City's Fiscal Agent and the City's Auditor have
recommended that a transfer be made each quarter
from the Sewer and Water Enterprise Fund to the
Connection and Area Charge Capital Project Fund,
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF LINO LAKES, MINNESOTA:
1. That the amount of $60,445.00 be transferred from the
Sewer and Water Enterprise to the Connection and Area
Charge Capital Project Fund.
2. The effective date of the transfer shall be June 30,
1990.
3. The City Clerk Shall prepare a quarterly Tabulation of
Sewer and Water Users, compute the amount to be
transferred from the Sewer and Water Enterprise Fund to
the Connection and Area Charge Capital Project Fund and
RESOLUTION NO. 54 - 90
Page -2-
prepare a resolution for the said transfer for approval
by the Lino Lakes City Council.
Adopted by the Lino Lakes City Council this 13th day of
August, 1990.
Harold L. Bisel, ayor
) 6X11 -
Ma ilyn-G. Anderson, Clerk -Treasurer
The motion for adoption of the foregoing resolution was duly
seconded by Council Member Bohjanen and upon vote being taken
thereon, the following voted in favor thereof: Neal, Kuether,
Bisel, Reinert, Bohjanen.
The following voted against same: None.
Whereupon said resolution was declared passed and adopted.