HomeMy WebLinkAbout1996-168 Council ResolutionCouncil member Neal introduced the following resolution and
move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 96-168
RESOLUTION AUTHORIZING THE TRANSFER OF MONIES FROM
THE TAX INCREMENT FUND 1-1 AND TAX INCREMENT FUND 1-2
TO THE ECONOMIC DEVELOPMENT FUND
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, the City's Tax Increment Districts are all pooled.
NOW THEREFORE BE IT RESOLVED, that the following transfer be authorized:
Increase Decrease
$748
E.D.A. Fund (430)
T.I.F. District 1-1 (407)
T.I.F. District 1-2 (408)
($374)
($374)
Adopted by the City Council of Lino Lakes this 16th day of December, 1996.
ohn Landers - Mayor
Marilyn G. Anderson, Clerk Treasurer
The motion for the adoption of the foregoing resolution was duly seconded by Lyden
and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Lyden,
Neal, Landers.
The following voted against same: None, Council Member Kuether was absent.
Where upon said resolution was declared duly passed and adopted: