HomeMy WebLinkAbout1995-013 Council ResolutionCouncil member Elliott introduced the
following resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 95 - 13
RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND UNIT FUND
TO THE WATER 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 1994 was $91,547.50.
NOW THEREFORE BE IT RESOLVED, that the following transfer be made
effective December 31, 1994.
Increase Decrease
Water Enterprise (601) $91,548
Area and Unit Fund (406) ($91,548)
Adopted by the City Council of Lino Lakes this 23rd day of January,
1995.
Vernon F. Reinert - Mayor
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Marilyn Anderson, Clerk Treasurer
The motion for the adoption of the foregoing resolution was duly
seconded by Kuether 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: