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Resolution 0777
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00500 - 00999 (1970-1979)
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Resolution 0777
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Last modified
10/29/2019 4:01:53 PM
Creation date
10/29/2019 3:58:26 PM
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MV City Council
City Council Document Type
Resolutions
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R <br />t !I: a • , #is 't'. 3 e .... _ �. .. .. .._ _ ._ .-: tri <br />.1 <br />V,'ilit <br />-i lid <br />proper .i "t t,t <br />thel'Oc,ii, ti#i,) <br />Wl+i,i::t, , flit !'hilt:i <br />" I -t F h <br />tilit ,€ i.'ili tJ <br />• t •, '�iiii`�i , f . '_ <br />of Mounds ;'i ow lorn ti'''t'1=)i',t ) j5h th(- l et c 1cnt L-_rcjw Fund <br />for the purpose of mafekoop3nr and ptope,li a'coulltlt,Cl for a1% <br />deprskits that are - itLimIttu) to i,;ccurt wcv, l—.In trient Aoref_ttir_i-ikA. <br />TAO Council authorizea thrz ritkit ctrjtl: i)7PK or .;Ow )it!Cjhthn to <br />oPen A aavinge nevount in thr nnmv of this rUND and heresy <br />appropriates one dolklai- ( j .0o) ted maitttrw,in said iwo,)unt. <br />All DCV01OPltent hgroemunt noaatiahjw avcut,ity dopoa3:ts shall <br />be deposited by the Clcrk in said account. Int€refit a)tail be <br />earned on the account in accordance with normal uAvings ancount <br />probeAures of the Bank. All interest earned shall be distribu-ted <br />according to aild li+ Lilo same. proportion ar is the ptinnipal amount <br />s ICC -01VvIolmrant. t suns##.grae-uy-itiv* pe wit th relit A- nv . '= <br />--- ---- interest earned and payable to a davelbper shall be Esid after the <br />lest quarter in whi.4h the Dank credits interest an the deposit i <br />U oh Nabs€actQty fulfillment of thr terms of the Developmsnt <br />_ <br />-Aroemen}, r,s dets;tminsi h} the Ccunell, the {i nt= . - shell authorise <br />--_ 7 MLAanss tib the ;'avels'per of the d€pO51to*d aevtsrit,. 'Phi <br />shall $uliMit An ffgtifflMu of intervit accrued th:ra" wind <br />- be wtthoriaed to thaw the appronriate withdrawals froyn t.hs ssving8 <br />- --- !ldooUnt brad submit to the Cou.wi 1 *or payment, <br />MoPfcd this 7 n+i day of Piou nils r, 1 7(„ <br />ATTMI' t <br />SEA 11j) <br />/i <br />ei'�}1 <br />
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