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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 />___________________________ <br />Rob Rafferty, Mayor <br />ATTEST: <br />___________________________ <br />Hannah Lynch, City Clerk <br />SEAL <br />186