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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />EXTRACT OF MINUTES OF MEETING <br />OF THE CITY COUNCIL OF THE CITY <br />OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA <br /> <br />Pursuant to due call and notice thereof a regular meeting <br />of the City Council of the City of Elk River, Sherburne County, <br />Minnesota, was held at the Elk River City Library in said City <br />on Monday, May 4, 1992, commencing at 7:00 p.m. <br /> <br />The following members were present: vice Mayor Holmgren, <br />Councilmembers Kropuenske and Dietz <br /> <br />and the following were absent: <br />Schuldt <br /> <br />Mayor Tralle and Councilmember <br /> <br />The following resolution was presented by Councilmember <br />Kropuenske who moved its adoption: <br /> <br />RESOLUTION NO. 92-36 <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE <br />AND SALE OF $1,095,000 GENERAL OBLIGATION <br />STATE-AID ROAD BONDS, SERIES 1992B <br /> <br />BE IT RESOLVED by the City Council of the City of Elk <br />River, Sherburne County, Minnesota (the City) as follows: <br /> <br />Section 1. Findings. <br /> <br />1.01 The authorization and construction of four municipal <br />state-aid roadway projects are contemplated. The projects are <br />known as the Main Street/Highway 169 Project, the Western Area <br />Project, the Jackson Avenue/Highway 169 Project, and the Main <br />Street Bridge Replacement Project. Springsted Incorporated <br />(Springsted), fiscal consultant to the City, has recommended <br />the City issue general obligation state-aid road bonds to <br />finance a portion of the cost of the projects. <br /> <br />1.02 Springsted has recommended the City authorize the <br />sale of general obligation state-aid road bonds in the <br />aggregate principal amount of One Million Ninety-five Thousand <br />Dollars ($1,095,000). <br />