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Council member Kuether introduced the <br />following resolution and move its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 92 - 114 <br />RESOLUTION AUTHORIZING THE PREPAYMENT OF <br />THE 1984 IMPROVEMENT BONDS <br />WHEREAS, the 1984 Improvement Bonds mature in 1994, and <br />WHEREAS, the principal owing is $10,500, and <br />WHEREAS, the cash balance and assessments due are enough to cover <br />the prepayment, and <br />WHEREAS, the interest rate for this issue is 9%, and <br />WHEREAS, Firstar Bank would like the bonds paid September 1, 1992, <br />and <br />WHEREAS, the fund will be closed to the Closed Bond Fund. <br />NOW THEREFORE BE IT RESOLVED, that authorization to prepay the 1984 <br />Improvement Bonds be given retroactive to September 1, 1992. <br />Adopted by the City Council <br />September, 1992 <br />of Lino Lakes this 14h day of <br />Vernon F. Reinert - Mayor <br />Ma a01i-, Z' - ( (Aat/14-0-r‘_/ <br />y Anderson, Clerk Treasurer <br />The motion for the adoption of the foregoing resolution was duly <br />seconded by Neal and upon vote being taken <br />thereon, the following voted in favor thereof: Neal, Kuether, Reinert, <br />Elliott, Bergeson. <br />The following voted against same: None. <br />Where upon said resolution was declared duly passed and adopted: <br />