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Councilmember Cox introduced the following resolution and moved for its <br />adoption: <br /> <br />RESOLUTION #81-144 <br /> <br />RESOLUTION AUTHORIZING TEMPORARY TRANSFER OF FUNDS FROM ADMINISTRATIVE BOND <br />TRUST FUND #808 TO GENERAL OBLIGATION BOND (GOB) FUND #555 <br /> <br /> WHEREAS, the General Obligation Bond Fund #555 has an Obligation <br />in the amount of $20,683.36 for street sealcoating project costs. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL, CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> 1) Authorization for a temporary transfer in the amount of <br />$20,685 from the Administrative Bond Trust Fund #808 to General Obligation <br />Bond (GOB) Fund #555 for a period not to exceed 60 days. <br /> <br /> 2) That the General Obligation Bond (GOB) Fund #555 will pay <br />interest on this temporary loan at a rate of 15.90% which was established <br />this'the 22nd day of September, 1981 as the going rate being paid by <br />financial institutions. <br /> <br />3) That the City Accountant be furnished a copy of this Resolution. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded <br />by Councilmember Sorteberg and upon vote being taken thereon, the follow- <br />ing voted in favor thereof: <br /> <br />Councilmembers Sorteberg, Reimann and Cox <br /> <br />and the following voted against the same: <br /> <br />None <br /> <br />and the following members were absent: <br /> <br />Mayor Gamec and Councilmember Van Wagner <br /> <br />whereupon said resolution was declared duly passed and adopted by the <br />Ramsey City Council this the 22nd day of September, 1981. <br /> <br /> <br />