HomeMy WebLinkAbout1985-182 CCRl__J
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Member Bill Hawes introduced the following resolution and
moved its adoption:
RESOLUTION NO. 85 -182
RESOLUTION AUTHORIZING AN INTERFUND LOAN FROM THE CAPITAL
PROJECTS FUND TO THE MUNICIPAL LIQUOR STORES FUND
WHEREAS, on October 1, 1984, the City Manager presented the City Council
a proposal to purchase a building located at 69th and Humboldt Avenues in Brooklyn
Center, to be used as a municipal liquor store; and
WHEREAS, on October 15, 1984, the City Council authorized the purchase
of the building; and
WHEREAS, the plan, as presented on October 1, 1984, included a recommen-
dation by the City Manager to finance the purchase through an interfund loan from
the Capital Projects Fund to the Municipal Liquor Stores Fund; and
WHEREAS, the building has been acquired and remodeled, the costs have
been determined, and permanent financing is necessary.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota, that a loan from the Capital Projects Fund to the Municipal Liquor
Stores Fund is hereby approved with the terms as follows:
Loan Amount:
Dated:
Annual Interest Rate:
Loan Period:
Payments:
$300,000
September 1, 1985
8.50%
15 years
Monthly
October 7, 1985
_Date May
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
member Rich Theis and upon vote being taken thereon, the following
voted in favor thereof: Dean Nyquist., Celia Scott, Bill Hawes, and Rich Theis;
and the following voted against the same: none,
wehreupon said resolution was declared duly passed and adopted.