HomeMy WebLinkAbout1994-007 Council ResolutionCouncil member Elliott introduced the
following resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 94 - 07
RESOLUTION AUTHORIZING THE TRANSFER OF MONIES FROM
THE TAX INCREMENT FUND 1-1 AND TAX INCREMENT FUND 1-2
TO THE ECONOMIC DEVELOPMENT FUND AND TAX INCREMENT FUND 1-3
WHEREAS, personnel costs have been charged to the Economic
Development Fund, and
WHEREAS, these costs are T.I.F. related, and
WHEREAS, the City's audit firm has recommended this transfer on an
annual basis, and
WHEREAS, T.I.F. District 1-3 (Ross' Corners) is no longer in effect
due to no activity, and
WHEREAS, T.I.F. District 1-3 should be closed, and
WHEREAS, the City's Tax Increment Districts are all pooled.
NOW THEREFORE BE IT RESOLVED, that the following transfers be
authorized effective December 31, 1993.
T.I.F. District 1-3 (409)
E.D.A. Fund (540)
T.I.F. District 1-1 (407)
T.I.F. District 1-2 (408)
Increase
$17,893
$ 1,074
Decrease
($9,483)
($9,484)
Adopted by the City Council of Lino kes this 14th day of
February, 1994.
Vernon F. Reinert - Mayor
arilyn7G. Anderson, 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.
Where upon said resolution was declared duly passed and adopted: