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UTRACTOF MINUTES OF A MEETING O.F THl VIL.t.J\:QE COUNCIL OF THE VILLAGE OF ELK ittV:ER.. Y4INNESOTA Pu:rsuant to due call and notice thereof, a regular _ meetingot the Villas;e Councilor t_he Village of' Elk River, ~l1nnesQta.. was held at the Council rooms in said Village on the )rdo ~Or February.. 19114 -' at 7:30 1 o'clock P .14. The fol- lOWing mem'Bers of the Oounc were present: H. L. Joij.nson, l1a~'or D. A. Norris and August Heyer, Councilmen, and H. A. Briggs, Villa.ge Clerk, Hilmer Bartelt, Councilman. and the followingwe~ab~nt~ None The matter of financing improvements to the Municipal Power Plant was discussed" and after discuesion, Councilman Norris 1ntr~duaed the rOllowing resolution and moved its adoptions RESOLl1TION CONCURRING IN T"tIE ACTION OF THE PutsLIc UTILITIES COl\1MISSIOrl OF THE VlI.J..AGE IN PROVIDING FOR THE ISSUANCE AND .SALE OF $~OOOELECTRIC R:a'VENt1E RE.FtJ1IDING BONDS OF 1964 W.H'EREA,S, the PU.bllc Utili ties Commission of the Village has adopted a resolution providing for the issuance and sale of $42}oOO Electric Revenue Re.fund1ng Bonds of 1964, for the pur- pose of refunding the outstanding principal of the $490,000 Ele- ctric Revenue Cert1t'lcates o:f' 1961, dated August 1.5, 1961, in order to reduce net interest eost and to adjust the maturities of outstanding obligations 1n relation to the resources avail- abl~ for their payment, whichresolutlon 1s by reference incor- porated in 84.~d made a part of this resolution to the same-extent and with the same force and effect as if set out f'ully herein, NOW THEREFORE, BE IT RESOLVED by the Village Council of the Village-of Elk Rivex-, Minneaota; as follows: The Council does hereby concur in the resolution adopted by the Commlssion providing for the issu- ance and sale of $lIos-,ooo Electric Revenue Ref\.md- lng :Bo-nds of 1964, and does hereby join and adopt the said resolution" including all or the coven- ants and agreements therein 6ontalned'rdth the same force and effect as if said reaplution l~d been adopted by the Council. The motion for the adoption of said resolution was secon- ded by Councilman~r.i~___, and upon a vote being taken thereon" the .following voted in favor thereof: Norris, Meyer, Ericigs and 3artelt, &~d the following voted against the SaP.le: None.