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R-78-47 <br />RESOLUTION <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION APPROVING COMMITMENT LETTER FOR LAKE ELMO <br />HARDWOOD INDUSTRIAL DEVELOPMENT REVENUE BONDS. <br />WHEREAS, Mid -America National Bank of Roseville has <br />presented to the City for its acceptance a letter dated November 2, <br />1978, whereby the said Bank agreed to purchase a Commercial <br />Development Revenue Note to be issued by the City to Lake <br />Elmo Hardwood Lumber Co., Inc. under certain conditions set forth <br />in that letter; and <br />WHEREAS, the terms of that letter appear to be consistent <br />with the City's preliminary approval; and <br />WHEREAS, the City's acceptance of the Commitment is <br />conditioned upon final approval. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of <br />the City of Lake Elmo that the said commitment letter dated <br />November 2, 1978, is hereby approved and accepted by the <br />City and the Mayor and Clerk are, accordingly, authorized to <br />sign the same. <br />Adopted by the City Council of the City of Lake Elmo <br />this 21st day of November, 1978. <br />Thomas G. Armstrong, Mayor <br />ATTEST: <br />Donald Mehsikomer, Clerk <br />