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<br /> <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 /> <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, July 6, 1992, commencing at 7:00 p.m. <br /> <br />The following members were present: <br /> <br />Mayor Tralle, Councilmembers Schuldt, Dietz and Holmgren <br /> <br />and the following were absent: Councilmember Kropuenske <br /> <br />The following resolution was presented by Councilmember <br />Schuldt who moved its adoption: <br /> <br />RESOLUTION NO. <br /> <br />92-59 <br /> <br />RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF <br />$560,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, <br />SERIES 1992C <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. Findinqs. <br /> <br />. <br />1.01 The authorization and construction of an improvement <br />project known as the Hillside Estates Development Improvement <br />Project (the Project) is cpntemplated. Springsted Incorporated <br />(Springsted), fiscal consultant to the City, has recommended <br />the City issue general obligation temporary improvement bonds <br />to finance the Project. <br /> <br />1.02 Springsted has recommended the City authorize the <br />sale of general obligation temporary improvement bonds in the <br />aggregate principal amount of Five Hundred Sixty Thousand <br />Dollars ($560,000). <br />