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planned to be financed through the annual contribution from the electric <br />utility. <br /> <br />Action Requested <br /> <br />The City Council is asked to approve the attached resolution awarding the <br />sale of the city's $311,500 General Obligation Equipment Certificates to the <br />Bank of Elk River at an interest rate of 5 percent for a term of five years. <br /> <br />\ \elkriver\sys\shrdoc\council\equipcer.doc <br /> <br /> <br />