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RESOLUTION NO. 4453 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> Pursuant to due call and notice thereof, a meeting of the Council of the City of Mounds <br /> View, Minnesota was held at City Hall on November 22, 1993 with the following <br /> members present: <br /> and the following members absent: <br /> Member introduced the following resolution and moved its adoption: <br /> A RESOLUTION AUTHORIZING AN INTERFUND LOAN FROM THE WATER <br /> FUND TO THE GOLF COURSE FUND <br /> BE IT RESOLVED by the Council of the City of Mounds View, Minnesota, as follows: <br /> 1) An interfund loan in the amount of $250,000 from the Water Fund to the <br /> Golf Course Fund is hereby authorized. <br /> 2) Said loan shall be repaid over a period not to exceed twenty years. <br /> 3) Said loan shall repaid with interest at a rate of seven percent per annum. <br /> 4) Principal and interest payments of said loan shall be payable each <br /> November 15 over the term of the loan. <br /> The motion for adoption of the above resolution was duly seconded by Member <br /> and upon a vote being taken, Ayes Nays, said resolution was declared duly passed and <br /> adopted this 22nd day of November 1993. <br /> A1'1'1 ST: <br /> Mayor <br /> (SEAL) <br /> City-Administrator <br />