RES 1989-54 - 00004222�7
RESOLUTION NO. 54 - 1989
RESOLUTION AUTHORIZING THE LOAN OF MONIES TO THE FRIDLEY
HISTORICAL SOCIETY
WHEREAS, it is in the public interest to preserve the historical records of the
City of Fridley for future generations; and
WHEREAS, the Fridley Historical Society is renovating the former Hayes
Elementary School to serve as a historical museum where the above mentioned
records can be properly preserved, exhibited to the public, used for educational
purposes, and made available to scholars; and
WHEREAS, as part of the intended renovation completion of landscaping
improvements, including installation of an underground sprinkler system, is
necessary to meet city requirements; and
WHEREAS, funds are available through grants and donations to pay for other
improvements of the Historical Museum, including a lift for handicapped
accessibility, but funds are not presently available for required landscaping
improvements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fridley that
$7,000.00 be transferred from the emergency reserve of the general fund to the
City Council division of the Legislative Department to be available for a loan
to the Fridley Historical Society not to exceed the same amount of $7,000.00
under the following conditions:
1. Contracts with vendors shall comply with the City's purchasing
regulations.
2. The City will pay an amount not to exceed $7,000.00 to the appropriate
vendor or vendors upon receipt of an invoice from each vendor together
with a full lien waiver of all labor and materials; certification of
satisfactory completion from the Fridley Historical Society, and signing
of a promissory note to the City of Fridley for the purchase amount by the
Fridley Historical Society.
3. One tenth (1 /10) of the total amount of the loan shall be payable on the
anniversary of the final payment by the City of Fridley in each of the
subsequent ten (10) years.
4. There shall be no interest charged on the loan.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 19TH DAY OF
JUNE, 1989
ATTEST:
SHIRLEY A. ItAAPALA - CIVZ CLERK
WILLIAM J. NEE YOR
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