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RESOLUTION #342_. <br />A RESOLUTION AUTHORIZING THE BORROWING OF FUNDS <br />'FOR A TEMPORARY CONSTRUCTION FUND <br />BE IT RESOLVED by the Village Council of the Village of Ornno, <br />Minnesota, that the Council authorizes the borrowing 6f funds <br />up to a maximum of $50,000.00 to initiate various sewer and water <br />construction projects. <br />The short term loan is authorized to be carried until such time as <br />the Village is able to sell bonds. The loan is authorized to be <br />made with the First National Bank of Navarre at the rate of five and <br />one-half percent per annum. <br />The Mayor, Clerk -Administrator, and Treasurer are authorized to sign <br />the forms required in behalf of the Village to consumate the loan. <br />Adopted by the Village Council of the Village of Orono, Minnesota at <br />a regular meeting June 8, 1970. <br />Louis B. Oberriauser, Mayor <br />Attest: <br />12L <br />Ralph artin, C er - inistrator <br />RESOLUTION #343 <br />A RESOLUTION APPROVING CONSOLIDATION OF CERTAIN <br />CONSTRUCTION FUNDS <br />BE IT'HEREBY.RESOLVED, by the V-•llage Council of the Village of Orono," <br />Minnesota, that the following Sanitary Sewer Construction Funds: <br />63LS-1 & 64LS-1 and 65LS-1 be consolidated into a Permanent Improvement <br />Revolving Fund #429. This fund will be used for construction costs <br />until such time as a permanent financing is established for the particular <br />construction fund. When the permanent financing is established,the <br />construction f'un'd will reimburse the Permanent Improvement Revolving <br />Fund in the &mount previous'4trans•f-erred. <br />Adopted by the Village Council of the Village of Orono, Minnesota, at <br />a regular meeting held June 8, 1970. <br />Louis B. Oberhauser, Mayor <br />Attest: <br />Ralph . Martin, Clerk -Administrator <br />F� <br />