90-75 - 12-11 Authorize Loan Utility Reserve Fund to Brookview Golf Course FundResolution 90-75
December 11, 1990
Member Johnson introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING LOAN FROM UTILITY RESERVE FUND
TO BROOKVIEW GOLF COURSE FUND
BE IT RESOLVED by the City Council of the City of Golden Valley to
authorize an inter -fund loan from the Utility Reserve Fund (27) to the B rookview
Golf Course Fund (24) in the amount of $300,000. This loan is to be repaid in
equal annual installments of $100,000 beginning December 15, 1991, with interest
calculated on the unpaid balance at the rate of 8% per annum.
Maty E. A rerson, Mayor
ATTEST:
Fri r1ey J. (pq son, City C er
The motion for the adoption of the foregoing resolution was seconded by Member
Thompson, and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Johnson, Stockman and Thompson; the following was absent:
Bakken; and the following voted against the same: none, whereupon said resolu-
tion was declared duly passed and adopted, signed by the Mayor and her signature
attested by the City Clerk.