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RESOLUTION NO. 24-45 <br /> RESOLUTION AUTHORIZING THE CITY OF LINO LAKES TO SUBMIT INFORMATION <br /> TO THE MINNESOTA PUBLIC FACILITIES AUTHORITY (MPFA) AND TO ENTER INTO <br /> A LOAN AGREEMENT WITH THE MPFA. <br /> WHEREAS, the City of Lino Lakes, Minnesota is proposing to construct a water treatment plant, <br /> and <br /> WHEREAS, the City is eligible for a loan from the Minnesota Public Facilities Authority, <br /> NOW,THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that the City is <br /> hereby applying to the Minnesota Public Facilities Authority for a loan from the Drinking Water <br /> Revolving Fund for improvements to its municipal drinking water system as described in the <br /> loan application. <br /> BE IT FURTHER RESOLVED, that the City estimates the amount of the loan to be $18,000,000 or <br /> the as-bid cost of the project less any grant amounts. <br /> BE IT FURTHER RESOLVED,that the City has the legal authority to apply for the loan, and the <br /> financial, technical, and managerial capacity to repay the loan and ensure proper construction, <br /> operation and maintenance of the project for its design life. <br /> Adopted by the City Council of the City of Lino Lakes on this 22nd day of April, 2024. <br /> ti rLc-c:-.`�--v <br /> RoLCSa. rty, Mayor <br /> ATTEST: <br /> t)a4L14_ <br /> //eL <br /> Hannah Lynch, City C rk <br /> SEAL <br />