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2018-068 Council Resolution
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2018-068 Council Resolution
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9/24/2018 9:29:16 AM
Creation date
8/17/2018 1:37:14 PM
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City Council
Council Document Type
Resolutions
Meeting Date
05/29/2018
Council Meeting Type
Regular
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pursuant to the requirements of Section 147(0 of the Code and the regulations promulgated thereunder; <br />and (ii) approval of the issuance of the Note by the City of Columbia Heights to finance the Project; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LINO <br />LAKES, MINNESOTA, AS FOLLOWS: <br />1. The City Council finds that it is in the best interest of the City to approve the issuance of <br />the Note by the City of Columbia Heights to finance the Project and hereby consents to the issuance of <br />the Note by the City of Columbia Heights for the purposes set forth herein in an amount not to exceed <br />$3,800,000. <br />2. The Mayor and the City Administrator are hereby authorized and directed to execute and <br />deliver any documents or certificates deemed necessary to fulfill the intentions of this resolution. <br />3. The Mayor and City Administrator and other officers, employees, and agents of the City <br />are hereby authorized and directed to prepare and furnish to bond counsel and the original purchaser of <br />the Note certified copies of all proceedings and records of the City relating to the approval of the issuance <br />of the Note, including a certification of this resolution. <br />4. The Borrower will, upon demand, reimburse the City for costs paid or incurred by the <br />City in connection with this resolution. <br />5. This resolution shall be in full force and effect from and after its passage. <br />Approved by the City Council of the City of Lino Lakes, Minnesota this 29`h day of May, 2018. <br />ATTEST: <br />Ci Jerk —()Thc)*jL--- <br />Mayor <br />The motion for the adoption of the foregoing resolution was <br />introduced by Council Member stoesz, seconded by Council Member <br />Manthey, and upon a vote being taken thereon, the following <br />voted in favor thereof: <br />Stoesz, Manthey, Maher, Rafferty, Reinert <br />The following voted against same: <br />none <br />524239v1 GAF CL162-55 <br />2 <br />
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