Resolution Number 03-20
RESOLUTION NUMBER 03-20
RESOLUTION OF APPLICATION
BE IT RESOLVED that the City of Mountain Iron is hereby applying to the Minnesota Public Facilities Authority for a loan from the Drinking Revolving Fund for improvements to its drinking water system as described in the loan application.
BE IT FURTHER RESOLVED that the City of Mountain Iron estimates the loan amount to be $592,870.
BE IT FURTHER RESOLVED that the City of Mountain Iron has the legal authority to apply for the loan, and the financial, technical, and managerial capacity to repay the loan and ensure proper construction, operation and maintenance of the project for its design life.
DULY ADOPTED BY THE CITY COUNCIL THIS 6th DAY OF APRIL, 2020.
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Mayor Gary Skalko
ATTEST:
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City Administrator
