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REGULAR P�iEETING OF iHE OROrIO COUNCIL, JANUARY 23, 1979 � Page 20 <br /> , The following letter was presented to the City NAVAFtRE BANK <br /> Council from David J. Delaney, Plavarre First REVENUE BONDS <br /> , National Bank, dated January 16, 1979 , which states: <br /> "Enclosed are the resolution and agreement I would <br /> like to be adopted by Orono. Also covering <br /> mer.iorandum from my attorney. <br /> � This type of financing will save 20. The mone1 will <br /> still be about 8�, but ,the difference will be most <br /> helpful in justifying this project. ' <br /> The building will be owned by me rather than the <br /> bank because it is limited by law to investing <br /> $175, 000 in brick and mortar. jae need nore facility. <br /> The proposed building will be compatible with the • <br /> Gray Freshwater Biological Institute and fit the . <br /> present zoning. The debt holds no risk to the City <br /> and will have the guarantee of my f amily. _ <br /> �ae need approval by resolution prior to purchase of <br /> the land and my option to buy expires January 25th. <br /> I am sorry for the inconvenience this .causes you <br /> and the City. " <br /> Council Meeting - January 23, 1979 <br /> Pesek r:ioved, Butler seconded, to adopt Resolution RESOLUTION #988 <br /> :. �' �988, A Resolution Relating `^o A Project Under The Revenue Bonds <br /> 2�iunicipal Industrial Development Act; Giving Pre- Navarre Bank <br /> liminary 1lpproval To '�'he Project; Referring The <br /> Proposal To The Comnissioner Of Securities £or <br /> Approv�l; And Authorizing Execution Of A P�emorandum <br /> Of Agreement And Preparation Of Necessary Documents, <br /> amended to include a hold harmless agreement. <br /> r4otion, Ayes (4) - Plays (0) . <br /> Butler rmoved, Massengale seconded, to appoint the BOND CONSULTANTS <br /> firm of Faegre & Benson as bond consultants for Faegre & Benson <br /> Orono, retroactive to January 22, 1979 . Piotion, � <br /> Ayes (4) - Nays (0) . <br /> An appointrtent to the Park Cor,unission was tabled PARK COMPZISSION <br /> until the next Council meeting. <br /> Appointments to the Human Rights Corunission was HUMAN RIGHTS <br /> tabled until the next Council r_meeting. CONiMISSION <br /> The Casco Point petition was tabled indefinitely. CASCO POINT PE'�ITIt <br /> '� , <br />