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COUNCIL MEETING 1� <br />Id AY 13 1985 <br />Extract of Minutes of Meeting di ih9F MKI <br />City Council of the City of Orono, <br />Hennepin County, Minnesota <br />Pursuant to due call and notice thereof, a regular <br />meeting of the City Council of the City of Orono, Minnesota, was <br />duly held in the City Hall, in said City on Monday, May 13, 1985, <br />at 7:00 o'clock P.M. <br />The following members wea present: <br />and the following were absent: <br />Member introduced the following <br />written resolution and moved its adoption: <br />RESOLUTION TO ISSUE AND SELL <br />$900,000 GENERAL OBLIGATION <br />IMPROVEMENT BONDS 01 1985 <br />BE IT RESOLVED by the City Council of the City of <br />Orono, Minnesota, as follows: <br />1. The City Council deems it necessary and expedient <br />to issue and sell $900,000 General Obligation Improvement Bonds <br />of 1985 to provide financing of estimated costs including con- <br />tract price, construction interest and legal, fiscal and miscel- <br />laneous costs for a local improvement of the City pursuant to the <br />authority of Minnesota Statutes, Chapter 429, being constructed <br />in whole or in part as Project No. 85-1, consisting of sanitary <br />sewer improvements, and also to provide additional interest in <br />the amount of $17,5(1 in the form of additional obligations as <br />authorized by Minnesota Statutes, Section 475.56. <br />2. The City Council has made all necessary investiga- <br />tion and hereby finds and determines as follows: <br />