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