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RESOLUTION NO. 4453
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
Pursuant to due call and notice thereof, a meeting of the Council of the City of Mounds
View, Minnesota was held at City Hall on November 22, 1993 with the following
members present: Linke, Quick, Trude, Blanchard, Wuor i
and the following members absent: None
Member Wuori introduced the following resolution and moved its adoption:
A RESOLUTION AUTHORIZING AN INTERFUND LOAN FROM THE WATER
FUND TO THE GOLF COURSE FUND
BE IT RESOLVED by the Council of the City of Mounds View, Minnesota, as follows:
1) An interfund loan in the amount of $250,000 from the Water Fund to the
Golf Course Fund is hereby authorized.
2)
Said loan shall be repaid over a period not to exceed twenty years.
3) Said loan shall repaid with interest at a rate of six and one-half percent per
annum.
4) Principal and interest payments of said loan shall be payable each
November 15 over the term of the loan.
The motion for adoption of the above resolution was duly seconded by Member Quick
and upon a vote being taken, 5 Ayes, 0 Nays, said resolution was declared duly passed
and adopted this 22nd day of November 1993.
ATTEST: '
May9~~
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