RES 1986-103 - 00004963"0?
RESOLUTION NO. 103 - 1986
RESOLUTION APPROVING AMENDMENTS TO CERTAIN REIMBURSEMENT AGREEMENTS
IT IS HEREBY RESOLVED by the City Council of the City of Fridley, Minnesota as
follows:
1. (a) The City has issued and sold its $11,550,000 Variable Rate Demand
General Obligation Tax Increment Bonds, Series 1985, and its $3,100,000
Variable Rate Demand General Obligation Improvement Bonds, Series 1985.
(b) In connection with the issuance of the tax increment bonds and the
improvement bonds, the City entered into certain respective Reimbursement
Agreements with National Australia Bank Limited.
(c) In order to obtain a rating from Moody's Investor Service, said
rating agency has requested certain amendments to said Reimbursement
Agreements, and said amendments are attached to this resolution and made a
part hereof.
2. The City hererby approves the attached amendments to the Reimbursement
Agreements, respectively, and authorizes the officers of the City to execute
the same on behalf of the City, with such minor amendments as may be desirable
' or necessary, as evidenced by their execution thereof.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 22ND DAY OF
SEPTEMBER, 1986
WILILAM J. NEE - .FOR
ATTEST:
SHIRLEY A. HAAPAI - CITY LERK