Laserfiche WebLink
<br />e <br /> <br />e <br /> <br />e <br /> <br />WHEREAS, the Bond provides for a final pa~rment on January 1, 1996, of <br />all principal and interest due on the Bond (the "Balloon <br />Payment"); and, <br /> <br />WHEREAS, the Borrower and the Bank desire to eliminate the Balloon <br />Payment and extend the final maturity of the Bond until <br />January 1,2006, as provided herein. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City <br />of Elk River, Minnesota, that the form of Extension Agreement presented to <br />this meeting, and the amendments to the Bond and the Loan Agreement <br />contemplated thereby, are hereby approved, and the Mayor and City Clerk <br />are authorized to execute and deliver the Extension Agreement on behalf of <br />the City, substantially in the form on file, but with all such changes therein <br />as may be approved by the officers executing the same, which approval shall <br />be conclusively evidenced by the execution thereof. <br /> <br />Passed and adopted by the City Council of the City of Elk River, Minnesota, <br />this 21st day of December 1995. <br /> <br /> <br />~,.v>'" ~ <br /> <br />ATTEST: <br /> <br />cL-.e r?~~/ <br /> <br />Sandra A. Thackeray, City Clerk <br />