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114 <br />Council member Elliott introduced the <br />following resolution and move its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 92 - 23 <br />RESOLUTION AUTHORIZING THE PREPAYMENT OF <br />THE 1983 IMPROVEMENT BONDS <br />WHEREAS, the 1983 Improvement Bonds mature in 1993, and <br />WHEREAS, the principal owing is $20,000, and <br />WHEREAS, the cash balance in this fund is $45,000, and <br />WHEREAS, there are assessments owing of $28,000, and <br />WHEREAS, the assessments and cash may be transferred to the Closed <br />Bond Fund. <br />NOW THEREFORE BE IT RESOLVED, that authorization to prepay the 1983 <br />Improvement Bonds be given effective March 1, 1992. <br />Adopted by the City Council of Lino Lakes this 24h day of February, <br />1992. <br />Mar <br />Vernon F. Reinert - Mayor <br />ynIG. Anderson, Clerk Treasurer <br />The motion for the adoption of the foregoing resolution was duly <br />seconded by Kuether and upon vote being taken <br />thereon, the following voted in favor thereof: Kuether, Reinert, Elliott. <br />The following voted against same: None, Council Member Neal was absent. <br />Where upon said resolution was declared duly passed and adopted: <br />