HomeMy WebLinkAbout1992-023 Council ResolutionCouncil member Elliott introduced the
following resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 92 - 23
RESOLUTION AUTHORIZING THE PREPAYMENT OF
THE 1983 IMPROVEMENT BONDS
WHEREAS, the 1983 Improvement Bonds mature in 1993, and
WHEREAS, the principal owing is $20,000, and
WHEREAS, the cash balance in this fund is $45,000, and
WHEREAS, there are assessments owing of $28,000, and
WHEREAS, the assessments and cash may be transferred to the Closed
Bond Fund.
NOW THEREFORE BE IT RESOLVED, that authorization to prepay the 1983
Improvement Bonds be given effective March 1, 1992.
Adopted by the City Council of Lino Lakes this 24h day of February,
1992.
arn
Vernon F. Reinert - Mayor
Mari./lyn G. Anderson, Clerk Treasurer
The motion for the adoption of the foregoing resolution was duly
seconded by Kuether and upon vote being taken
thereon, the following voted in favor thereof: Kuether, Reinert, Elliott.
The following voted against same: None, Council Member Neal was absent.
Where upon said resolution was declared duly passed and adopted: