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0 <br />M <br />g <br />N m to <br />vw <br />v <br />ealle V 13 o <br />m <br />a <br />8-) t: <br />ro <br />• z <br />M w <br />w a <br />0w <br />M Fa <br />o /1•6 <br />c g <br />o o <br />RESOLUTION 81 -39 <br />RESOLUTION AUTHORIZING THE ISSUANCE OF A CERTIFICALE <br />OF INDEBTEDNESS FOR CITY EQUIPMENT IN THE CITY OF LINO <br />LADS, MINNESOTA. <br />WHEREAS , the Lino Lakes City Council is desirous of purchasing Police <br />and street equipment for the proper maintenance and protection of the <br />City of Lino Lakes and <br />WHEREAS, existing City funds are insufficient for the purchase of <br />said equipment; and <br />WHEREAS, the needs and requirements of Minnesota Statutes regarding <br />said purchases were discussed along with the approximate costs; and <br />WHEREAS, the Lino Lakes City Council determined that the issuance <br />of a Certificate of Indebtedness pursuant to Minnesota Statutes <br />1 Annotated 412.301 and in the sum of $111,400.00 would be necessary <br />in order to purchase the above mentioned equipment; <br />NOW THEREFORE, upon a motion duly made by Ronald Jaworski , seconded <br />by John McLean , put and unanimously carried, it was <br />RESOLVED: <br />1. That a Certificate of Indebtedness in the sum of $111,400.00 <br />U <br />shall be issued by the City of Lino Lakes to purchase street and police <br />0 4 equipment, pursuant to M. S. A. 412.301. <br />a <br />x 2. That the Lino Lakes City Council authorizing the City Admin- <br />Mg o :F; 51 2 istrator to negotiate interest on the Certificate of Indebtedness to <br />„W v►+ a <br />0 0 g be repaid within two (2) years from the date of issuance. Interest to <br />U U <br />be paid biannually. <br />3. That the full faith, credit and taxing powers of the City <br />of Lino Lakes are hereby pledged, and that the Lino Lakes City Council <br />authorized a tax levy to pay this principal and interest on said <br />