HomeMy WebLinkAbout1998-120 Council ResolutionCouncil member Lyden introduced the following resolution and moved its
adoption:
CITY OF LINO LAKES
RESOLUTION NO. 98-120
RESOLUTION TRANSFERRING FUNDS FROM THE GENERAL FUND TO
THE GAS UTILITY FUND FOR CLOSURE
WHEREAS, The gas utility fund was established in the late 1980s, and
WHEREAS, the City was anticipating to own it's own gas utility, and
WHEREAS, the City is now looking into franchise fees, and
WHEREAS, the Gas Utility Fund has a deficit balance caused by legal expenses incurred by
exploring the franchise fee route, and
WHEREAS, the General Fund collects gas franchise fees from Circle Pines.
NOW THEREFORE BE IT RESOLVED: That the following transfer be adopted and the Gas Utility
Fund be closed.
Gas Utility Fund (603)
General Fund (101)
Increase Decrease
$17,241.43
Adopted by the Lino Lakes City Council this 27th da
Marilyn G. Anderson, Clerk -Treasurer
($17,241.43)
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, Dahl, Lyden,
Neal, Sullivan.
The following voted against same: none.
Where upon said resolution was declared duly passed and adopted: