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Council member Neal introduced the <br />following resolution and move its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 92 - 133 <br />RESOLUTION AUTHORIZING THE PREPAYMENT OF ASSESSMENTS <br />FOR THE INDUSTRIAL PARK LOTS 14, 15, 16, 17 <br />FROM THE INDUSTRIAL PARK FUND <br />AND THE BONDS FOR THE NEW WATER TOWER <br />WHEREAS, there is $59,168.39 owing in assessments for these 4 lots, <br />and <br />WHEREAS, <br />charges, <br />WHEREAS, <br />WHEREAS, <br />by prepaying, the City saves $43,571.17 in interest <br />and <br />lot 15 was purchased for the new water tower, and <br />the special assessments on lot 15 are $10,461.24, and <br />WHEREAS, the bonds sold for the water tower will pay for that lot, <br />and <br />WHEREAS, the other three lots will be paid from the Industrial Park <br />fund, and <br />WHEREAS, as the lots are sold, the revenues will offset the <br />assessments. <br />NOW THEREFORE BE IT RESOLVED, that lots 14 through 17 in the <br />Industrial Park be prepaid effective November 15, 1992. <br />Adopted by the City Council of Lino Lakes this 9th day of November, <br />1992. <br />Li r tib z 7 <br />Vernon F. Reinert - Mayor <br />MarilynG. Anderson, Clerk Treasurer <br />The motion for the adoption of the foregoing resolution was duly <br />seconded by Council Member Kuether 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 />