HomeMy WebLinkAbout1995-171 Council ResolutionCouncil member Neal introduced the following
resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 95-171
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
payment, and
WHEREAS, the bond payment for 1995 was $104,565.00
NOW THEREFORE BE IT RESOLVED, that the following transfer be authorized:
Increase Decrease
Water Enterprise (601) $104,565
Area and Unit Fund (406) ($104,565)
Adopted by the City Council of Lino Lakes this 1 lth day of December 1 .
Vernon F. Reinert - Mayor
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Marilyn G. Anderson, Clerk Treasurer
The motion for the adoption of the foregoing resolution was duly seconded by
Bergeson
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: