HomeMy WebLinkAbout1998-119 Council ResolutionCouncil member
adoption:
Bergeson
introduced the following resolution and moved its
CITY OF LINO LAKES
RESOLUTION NO. 98-119
RESOLUTION TRANSFERRING FUNDS FROM THE AREA AND UNIT FUND
TO THE 1992 A G.O. IMPROVEMENT BOND FUND TO ELIMINATE
THE DEFICIT
WHEREAS, The 1992 Bond Fund has a deficit balance, and
WHEREAS, these bonds were originally sold to finance the West Central Trunk, and
WHEREAS, in 1995, funds were transferred to the Area and Unit Fund from TIF funds to defray
the cost of the trunk, and
WHEREAS, the transfer is to cover bond payments only.
NOW THEREFORE BE IT RESOLVED: That the following transfer be adopted.
Increase Decrease
$419,000
Imp. Bonds 1992A (309)
Area and Unit Fund (406) ($419,000)
Adopted by the Lino Lakes City Council this 27th day o
M1. 6�
Marilyn G.Anderson, Clerk -Treasurer
The motion for the adoption of the foregoing resolution was duly seconded by Council Member Lyden
and upon vote being taken thereon, the following voted in favor thereof: Bergeson, Dahl, Lyden,
Neal, Sullivan.
The following voted against same: none.
Where upon said resolution was declared duly passed and adopted: