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• <br /> CITY OF ST. ANTHONY VILLAGE <br /> RESOLUTION 03 - 062 <br /> A RESOLUTION APPROVING INTERNAL LOAN TO FUND <br /> THE REDEVELOPMENT OF THE SAV lI OFF-SALE LIQUOR STORE <br /> WHEREAS, the City entered into a development agreement with AMCON to redevelop the <br /> Stonehouse/SAV 11 site; and <br /> WHEREAS, the goal is to develop a financial plan that provides funding for the construction <br /> of the new store at the most affordable price; and <br /> WHEREAS, the issuance of liquor revenue bonds or the use of reserves is not <br /> cost affective for the project; and <br /> WHEREAS, the best alternative for funding the new store is an Internal Loan from the <br /> • Water Filtration Fund; and <br /> NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of St. Anthony, <br /> hereby approves an internal loan from the Water Filtration Fund (not to exceed $400,000) to <br /> fund the City's portion of the construction of the new SAV 11 off-sale store. <br /> Adopted this— I day of ig�-,41 e- , 2003. <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Reviewed for Administration: Ad k� <br /> City Nknager <br /> • <br />