HomeMy WebLinkAboutResolution 4971 � �� �
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• '�� � � CITY of ORONO
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�� RESOLUTION OF THE CITY COUNCIL
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. �kESII�4 NO. � � `� �
RESOLUTION TO REQUEST
ORONO HOUSING AND REDEVELOPMENT AUTHORITY
PARTICIPATION IN CITY FIRE STATION AND
. EQUIPMENT FINANCING
BE IT RESOLVED By the City Council of the City of Orono,Minnesota, as follows:
l. This Council hereby determines to request that the Orono Housing and
Redevelopment Authority issue revenue bonds under Minnesota Statutes, Sections 469.152 to
469.165 (the"Bonds")to finance construction of a new fire station in Navarre on land owned by
the City and acquisition of fire equipment (the"Project"). The principal and interest on the .
• � Bonds will be paid from lease payments to be made by the City.
2. The City shall work with the Orono Housing and Redevelopment Authority to prepare
•proposed documentation, to set a sale date and prepare offering document. The terms of the
Bonds and related documentation shall be subject to approval by this Board.
Adopted by the City Council of the City of Orono, Minnesota, at a regular meeting held
Apri128, 2003.
ATTEST:
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Lin a S. Vee,City Clerk Barbara A. Peterson, Mayor �
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