HomeMy WebLinkAbout1992-114 Council ResolutionCouncil member Kuether introduced the
following resolution and move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 92 - 114
RESOLUTION AUTHORIZING THE PREPAYMENT OF
THE 1984 IMPROVEMENT BONDS
WHEREAS, the 1984 Improvement Bonds mature in 1994, and
WHEREAS, the principal owing is $10,500, and
WHEREAS, the cash balance and assessments due are enough to cover
the prepayment, and
WHEREAS, the interest rate for this issue is 9%, and
WHEREAS, Firstar Bank would like the bonds paid September 1, 1992,
and
WHEREAS, the fund will be closed to the Closed Bond Fund.
NOW THEREFORE BE IT RESOLVED, that authorization to prepay the 1984
Improvement Bonds be given retroactive to September 1, 1992.
Adopted by the City Council
September, 1992
of Lino Lakes this 14h day of
Vernon F. Reinert - Mayor
Ma a01i-, Z' - ( (Aat/14-0-r‘_/
y Anderson, Clerk Treasurer
The motion for the adoption of the foregoing resolution was duly
seconded by Neal and upon vote being taken
thereon, the following voted in favor thereof: Neal, Kuether, Reinert,
Elliott, Bergeson.
The following voted against same: None.
Where upon said resolution was declared duly passed and adopted: