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maximum loan of$50,000.00 to supplement an SBA 504 Loan of$1, 013,000...$25,000 from <br /> MV EDA at 2% and$25,000 from North Star Bank at 9 5/8% for 5 years,then adjusted <br /> annually to prime rate at that time....monthly payments of$238.81 and$310.00, respectively, <br /> from 10-1-85 to 9-1-2005.] <br /> June 5, 1995: Resolution No. 95-EDA-28 adopted: "Resolution Approving Business Loan for <br /> Dynex Industries." [Both loans are current in all respects,per telephone conversation with Jeff <br /> Neisen at North Star Bank on May 6, 1998.] <br /> September 28, 1995: Resolution No. 95-EDC-11 adopted: "Resolution Recommending <br /> Approval of Small Business Loan to Forcia Inc." [d/b/a Mister Donut...later,"Donut <br /> Connection"....applicant requested maximum loan of$50,000.00 $25,000 from MV EDA at <br /> 2%and $25,000 from Western Bank at 11.25 floating interest rate for 5 years...monthly <br /> payments of approximately$548.64 and$438.50, respectively, from 11/12/95 to 10/12/2000.] <br /> September 28, 1995: Resolution No. 95-EDC-12 adopted: "Resolution Approving the <br /> Establishment of a Loan Committee." <br /> October 9, 1995: Resolution No. 95-EDA-32 adopted: "Resolution Approving Business <br /> Improvement Loan for Forcia,Inc." [Both loans are current in all respects, per telephone <br /> conversation with Cindy Carlson of Western Bank on May 7, 1998; contact loan supervisor Beth <br /> Munroe at 290-8136 for more information.] <br /> January 23, 1996: Apparent date of informational letter to local businesses regarding the <br /> Business Improvement Partnership loan program. <br /> August 12, 1996: Resolution No. 96-EDC-15 adopted: "Resolution Recommending Approval <br /> of a Business Improvement Partnership Loan to Mounds View FINA." [Applicant requested <br /> maximum loan of$50,000.00....$25,000 from MV EDA at 2% and$25,000.00 from Western <br /> State Bank of St. Paul at 11% fixed for 10 years... monthly payments of$230.36 and $346.63, <br /> respectively, 9/21/96 through 8/21/2006.] <br /> August 12, 1996: Resolution 96-EDA-50 adopted: "Resolution Approving Business <br /> Improvement Partnership Loan for Mounds View FINA." [Both loans are current in all respects, <br /> per telephone conversation with Cindy Carlson of Western Bank on May 7, 1998; contact loan <br /> supervisor Beth Munroe at 290-8136 for more information.] <br /> (It is possible that another mailing to local businesses may have occurred between August 12, <br /> 1996 and the present, but I have not yet been able to verify that fact, or the actual date of any <br /> such mailing.) <br /> ■ <br />