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<br />. <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />91-59 <br /> <br />RESOLUTION NO. <br /> <br />A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF AMENDMENT <br />NUMBER ONE TO LOAN AGREEMENT BETWEEN THE CITY OF ARDEN HILLS AND <br />PET CARE PARTNERSHIP. <br /> <br />BE IT RESOLVED by the Council for the City of Arden Hills, <br />Minnesota (the "City") as follows: <br /> <br />Section 1. <br /> <br />Recitals. <br /> <br />1.01. It has been proposed that the City enter into <br />Amendment Number One to Loan Agreement (the "Amendment Number <br />One") with Pet Care Partnership (the "Borrower"). <br /> <br />Section 2. <br /> <br />Findinqs. <br /> <br />. <br /> <br />2.01. The City hereby finds that it has entered into a <br />Loan Agreement with the Borrower dated as of December 28, 1984 <br />and issued its $235,000 Commercial Development Revenue Note (the <br />"Note") and purchased by North Star Bank (the "Lender"). <br /> <br />2.02. The City hereby finds that the Lender and Borrower <br />are requesting that a subordinate lien be allowed and that the <br />Note be guaranteed by a single guarantor. <br /> <br />Section 3. <br /> <br />Authorization for Execution and Deliverv. <br /> <br />3.01. The Mayor and the City Clerk Administrator of the <br />City are hereby authorized to execute and deliver the Amendment <br />Number One when the following condition is met: <br /> <br />a. receipt of $600. <br /> <br />Adopted by the City this <br /> <br />/)., <br /> <br />day of <br /> <br />~,1991. <br /> <br />---------f pJ j n <br />I /t;n..G/J ,,~ <br /> <br />Mayor <br /> <br />ATTEST: <br /> <br />. Cit~k1id~~ator <br />