HomeMy WebLinkAbout1993-007 Council ResolutionCouncil member Kuether introduced the following resolution
and moved its adoption:
CITY OF LINO LAKES
RESOLUTION NUMBER 07-93
RESOLUTION DESIGNATING AND TRANSFERRING 1992 EXCESS LOCAL
GOVERNMENT AID (LGA) TO THE COMMUNITY DEVELOPMENT BLOCK GRANT
FUND (CDBG).
WHEREAS;
WHEREAS;
WHEREAS;
Due to stronger than expected sales tax revenues
in the Local Government Trust Fund, the City of
Lino Lakes received an additional $11,657 in Local
Government Aid and,
As of December 31, 1992, there remains a pre -
audit negative cash balance in the CDBG Fund of
approximately $10,463.00 and,
approximately $10,463.00 of the additional LGA
dollars be designated and transferred to the
Community Development Block Grant Fund to
eliminate the negative cash balance.
NOW THEREFORE BE IT RESOLVED, that revenue from the
additional Local Government Aid received in December be
designated for and transferred to the Community Development
Block Grant Fund to eliminate the negative cash balance
within this fund.
Passed the 8th day of February, 1993.
1/4hri lyyi
Vernon F. Reinert
G. Mid Son,` Clerk -Treasurer
The motion for the adoption of the foregoing resolution was
duly seconded by Council Member Neal and upon vote being
taken thereon, the following voted in favor thereof:
Bergeson, Elliott, Kuether, Neal, Reinert
The following voted against same: None