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City of <br />�- Pequot <br />Lakes— <br />AGENDA ITEM #3.4A <br />REPORT TO <br />CITY COUNCIL <br />Date: August 2, 2011 <br />Subject: Larsen Foundation Loan Payoff for Library <br />Building <br />Report: The Library Board has made a motion to transfer <br />`- $7,000 from the Library Fund to the Library Building Fund <br />and to pay off the Larsen Foundation Loan of $30,119.87 <br />for the Library Building. <br />Council Action Requested: Council motion to transfer <br />$7,000 from the Library Fund to the Library Building Fund <br />and to pay off the Larsen Foundation Loan of $30,119.87 <br />from the Library Building Fund. <br />