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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 <br />THE GOLF COURDE O AND LAN FROM THE WATER <br />D <br />BE 1T 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 />ATTEST: <br />Mayor <br />(SEAL) <br />City -Administrator <br />