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. •, <br /> . � . , <br /> 0 <br /> Extract of Minutes of Meeting of the <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 were present: Mayor Butler, <br /> Councilmembers Grabek, Frahm, Tim Adams and Lynn Adams . <br /> and the following were absent: none . <br /> RESOLUTZON NO. 1762 <br /> * * * * * * * * * <br /> • Member Frahm introduced the following <br /> written resoluti.on and moved its adoption: <br /> RESOLUTION TO ISSUE AND SELL <br /> $900,000 GENERAL OBLIGATION <br /> IMPROVEMENT BONDS OF 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,OOO� 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 /> i�n 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 $17,561 in the form of additional obligations as <br /> , authorized by Minnesota Statute•s, Section 475.56. <br /> 2. ' The City Council has made all necessary investiga- <br /> tion and hereby finds and determines as follows: <br /> • : <br /> f <br />