Laserfiche WebLink
<br /> <br />Failure to levy the planned amounts shall result in the delay of repayment back to the Sewer <br />Fund until such time as other payment arrangements are made. <br />6. Prepayment: The principal sum and all accrued interest payable under this Interfund Loan <br />are prepayable in whole or in part at any time by the City without premium or penalty. No <br />partial prepayment shall affect the amount or timing of any other regular payment otherwise <br />required to be made under this Interfund Loan. <br />7. Amendments: The City may amend the terms of the Interfund Loan at any time by resolution <br />of the City Council, including a determination to forgive the outstanding principal amount and <br />accrued interest to the extent permissible under law. <br />8. Note: The loan shall not be evidenced by a note or writing other than this resolution. <br /> <br /> <br />ADOPTED, by the Lake Elmo City Council on the 18th day of February, 2025. <br /> <br /> <br /> <br /> <br /> ______________________________ <br /> Charles Cadenhead <br /> Mayor <br /> <br />ATTEST: <br /> <br /> <br /> <br />__________________________________ <br />Julie Johnson <br />City Clerk <br /> <br /> <br />