HomeMy WebLinkAboutResolution 3154 ����
� O . O
�b. - . CITY of ORONO
� � �
��� �G'�' RESOLUTION OF THE CITY COUNCIL
�kESH�4 NO. 315 4
A RESOLUTION TO .AMEND THE INTEREST RATE APPLIED TO THE
STIIBBS BAY SANITARY SEWER ASSESSMENT ROLL,
. AS ESTABLISHED BY RESOLDTIONS NO. 3145 AND NO. 3121
� WHEREAS , the City Council of Orono, Minnesota �
established the interest rate. on the assessments for the
improvement of sanitary sewer in the Stubbs Bay area at 8� by
passage of Resolution No. 3121 and Resolution No. 3145, and
WHEREAS , the City Council did intend to amena said �
interest rate based on the net interest rate of the bonds sold
for the sanitary sewer improvement .in the Stubbs Bay area; and
� . WHEREAS, the City Council has awarded the sale of said
bonds bearing a net interest rate of 5. 19220• .
NOW THEREFORE BE IT RESOLVED BY THE CITY COONCIL OF '
ORONO, MINNESOTA, that the Stubbs Bay area sanitary sewer
assessments interest rate is hereby reduced from 8% per annum to "
6. 50 � per annum. .
� � � . � Adopted by the City Council of the City of Orono at
their regular meeting on the 10th day of August, 1992.
� .
AT EST: . Barbara A. Peterso , Mayor
Dorothy . Halli� , City Clerk
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