Laserfiche WebLink
<br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF CENTERVILLE <br /> <br />RESOLUTION #09-0 <br /> <br />A RESOLUTION AUTHORIZING RESTRUCTURING OF INTEREST RATE & <br />PAYMENT SCHEDULE ASSOCIATED WITH THE PURCHASE OF 2085 W. CEDAR <br />STREET <br /> <br />WHEREAS, the City Council adopted Res. #07-027 on July 11, 2009 authorizing a temporary <br />loan from the General Fund Capital Improvement Reserve, Sewer Utility Fund and Water Utility <br />Fund,and <br /> <br />WHEREAS, conditions have changed which indicate that certain tenns of the loan should be <br />modified, and <br /> <br />NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF CENTERVlLLE, <br />MINNESOTA: <br /> <br />1) The loan balance after accrued interest through December 31,2008 is $435,660. <br />2) Such loan shall be repaid on or before September 1,2013, with an interested of 1.5% <br />accruing from January 1,2009. <br /> <br />Adopted by the City Council this _ day of <br /> <br />,2009. <br /> <br />Mary Capra, Mayor <br /> <br />Attest: <br /> <br />Teresa Bender, City Clerk <br /> <br />13 <br />