Resolution 46-98 Certificate of Indebtedness
AUTHORIZING ISSUANCE OF CERTIFICATE OF INDEBTEDNESS BY QUAD CITIES JOINT RECREATION CENTER AUTHORITY
BE IT RESOLVED, by the City Council of Mountain Iron, Minnesota, that the Quad Cities Joint Recreational Center Authority is hereby authorized to issue a Certificate of Indebtedness in the amount of $300,000.00 payable to the Miners National Bank of Eveleth, and to execute a Certificate of Indebtedness in the form as attached to this Resolution. Further, the full faith and credit of the City of Mountain Iron is irrevocable pledged for the redemption of this Certificate of Indebtedness, with this City�s share limited to the following fractional share: 3124/18533.
Adopted this 7th day of December, 1998.