HomeMy WebLinkAbout2015-148 Council Resolution`-- CITY OF LINO LAKES
RESOLUTION NO. 15-148
RESOLUTION APPROVING TRANSFERS FOR PARTIAL INSTALLMENT
PAYMENT ON INTERFUND LOAN FOR RECREATION COMPLEX LAND
WHEREAS, in 1999 the City purchased land for the purpose of creating a recreation complex,
and
WHEREAS, a temporary interfund loan was made from the Area and Unit Fund (406) to the
Dedicated Parks Fund (405) for the purchase of said land, and
WHEREAS, the City Council approved Resolution No. 06-212 providing for a plan to repay the
interfund loan from the General Fund and Dedicated Parks Fund.
NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino Lakes,
that the following transfers are approved to pay the 2015 installment on the Recreation Complex
Interfund Loan:
From To Amount
General Fund Dedicated Parks Fund $50,000.00
Dedicated Parks Fund Area and Unit Fund $100,000.00
Adopted by the Council of the City of Lino Lakes this 14th day of December, 2015.
The motion for the adoption of the foregoing resolution was introduced by Council Member
Kusterman and was duly seconded by Council Member Roeser and upon
vote being taken thereon, the following voted in favor thereof:
Kusterman, Roeser, Rafferty, Stoesz, Reinert
The following voted against same:
none
ATTEST:
L
is-ne Bartell, City
ler
CITY COUNCIL
AGENDA ITEM 1L
STAFF ORIGINATOR: Sarah Cotton
MEETING DATE: December 14, 2015
TOPIC: Consider Resolution No. 15-148, Approving Transfers for Partial
Installment Payment on Interfund Loan for Recreation Complex
Land
VOTE REQUIRED: 3/5
BACKGROUND
The City Council approved Resolution No. 06-212 providing for the repayment of the interfund loan
for the Recreation Complex land. The attached Resolution No. 15-148 approves the transfers
necessary to make the 2015 installment of the approved repayment program.
RECOMMENDATION
Staff recommends the approval of Resolution No. 15-148.
ATTACHMENTS
Resolution No. 15-148, Approving Transfers for Partial Installment Payment on Interfund Loan
for Recreation Complex Land