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<br />. <br /> <br />'\ <br /> <br />l. <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 City Hall in said City on Monday, <br />September 25, 1989, commencing at 7:00 p.m. . <br /> <br />The following members were present: <br /> <br />Mayor Jim Tralle, Councilmembers Gene Schuldt, Harold Dobel, <br />Duane Kropuenske, and Roger Holmgren <br />. <br />-~-. <br /> <br />and the following were absent: <br />None <br /> <br />The following resolution was presented by Councilmember <br />Kropuepske who moved its adoption: <br /> <br />RESOLUTION NO. 89-58 <br /> <br />RESOLUTION PROVIDING FOR THE ISSUANCE <br />AND SALE OF $480,000 GENERAL OBLIGATION <br />FIRE EQUIPMENT BONDS, SERIES 1989A <br /> <br />BE IT RESOLVED by the City Council of the City of Elk <br />River, Sherburne County, Minnesota (City) as follows: <br /> <br />section 1. Findinqs. <br /> <br />1.01 This council has determined that it is advisable for <br />the city to purchase certain firefighting equipment. <br />springsted Incorporated (Springsted), fiscal consultants to the <br />City, have recommended that the City issue its general <br />obligation fire equipment bonds to finance the purchase of such <br />fire equipment. <br /> <br />1.02 springsted has recommended that the sale of fire <br />equipment bonds in the aggregate principal amount of Four <br />Hundred Eighty Thousand Dollars ($~80,000) be authorized. <br /> <br />1.03 It is necessary and desirable to the sound financial <br />management of the City that the City issue and sell its General <br />Obligation Fire Equipment Bonds, Series 1989A (the Bonds) to <br />finance the costs of the necessary fire equipment. <br /> <br />1.04 The issuance of the Bonds has been approved in an <br />election held February 14, 1989. <br />