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AGENDA ITEM 3A <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 4/27/98 <br />TOPIC: <br />BACKGROUND: <br />Consideration of Resolution No. 98-56 authorizing <br />the issuance and sale of $1.4 million Industrial <br />Development Revenue Bonds, Series 1998A, and $2 <br />million Industrial Development Revenue Bonds, <br />Series 1998B ( Molin Concrete Products project) <br />This resolution authorizes the sale of up to $3.4 million variable rate demand <br />industrial revenue bonds for the construction and equipping of an approximately <br />16,000 square foot building and construction of an additional 1,600 square foot <br />building for Molin Concrete. The bonds will not constitute a charge, lien or <br />encumbrance upon any property of the city except the project, and will not be a <br />charge against the city's credit or taxing powers. The bonds will be paid by Molin <br />Concrete. <br />OPTIONS: <br />1. Approve Resolution No. 98 -56 authorizing issuance of the bonds <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />