HomeMy WebLinkAbout1999-122 Council ResolutionCouncil Member introduced the following resolution
and moved its adoption:
City Of Lino Lakes
Resolution No.99-122
Resolution Transferring Funds From T.I.F. District 1-7 to the Escrow Fund
for Administrative expenses (Rice Industries)
WHEREAS, the Escrow fund has accounted for costs associated with Rice
Industries, and
WHEREAS, this account is closed, and
WHEREAS, the total amount owing is $8,142.57.
NOW THEREFORE BE IT RESOLVED, that the following transfer be authorized.
Escrow Fund(801)
T.I.F. 1-7(413)
Adopted by the Lino Lakes City Council this
1999.
hel Gaustad, CMC City Clerk
Increase Decrease
$8,142.57
($8,142.57)
be ae w..6 e.Y- ,
Ki
ly Ilivan, Mayor
The motion for the adoption of the forgoing resolution was duly seconded by
and upon vote being taken theron, the following voted in favor therof:
The following voted against same:
Where upon said resolution was declared duly passed and adopted:
Consent Agenda
STAFF ORIGINATOR Linda Waite Smith
DATE 12/04/99
TOPIC Resolution No. 99-122 Transferring Funds from T.I.F.
District 1-7 to the Escrow Fund for Administrative
Expenses (Rice Industries)
VOTE REQUIRED Simple Majority
BACKGROUND
The escrow fund has accounted for administrative costs associated with Rice
Industries. As there will be no more charges to the escrow for Rice Industries,
the account should be closed. The total amount owing is $8,142.57. The
transfer should be made from T.I.F district 1-7
OPTIONS
1. Adopt Resolution 99-122
RECOMMENDATION
Option 1