HomeMy WebLinkAbout1994-00 Council ResolutionCouncil member Elliott introduced the
following resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 94 - 09
RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND UNIT FUND
TO THE ENTERPRISE FUND
WHEREAS, bonds were sold to finance the water tower, and
WHEREAS, the funds to pay for the debt are accounted for in the
Area and Unit Fund, and
WHEREAS, the City's Bond Counsel recommends an annual transfer to
cover the bond payments, and
WHEREAS, the bond payment for 1993 was $89,347.
NOW THEREFORE BE IT RESOLVED, that the following transfer be made
effective December 31, 1993.
Increase Decrease
Sewer and Water Enterprise (601) $89,347
Area and Unit Fund (406)
($89,347)
Adopted by the City Council of Lino Lakes this 14th day of
February, 1994.
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Marilyn G. Anderson, Clerk Treasurer
Vernon F. Reinert - Mayor
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: