Resolution Number 20-16 PFA Application
RESOLUTION NUMBER 20-16
APPLYING TO THE MINNESOTA PUBLIC FACILITIES AUTHORITY
BE IT RESOLVED BY THE CITY COUNCIL OF MOUNTAIN IRON, MINNESOTA, that the City of Mountain Iron is hereby applying to the Minnesota Public Facilities Authority for a loan from the Clean Water Revolving Fund/Drinking Revolving Fund for improvements to its drinking water system/municipal wastewater treatment system as described in the loan application.
BE IT FURTHER RESOLVED that the City of Mountain Iron estimates the loan amount to be $269,500 or the as-bid cost of the project.
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 4th DAY OF APRIL, 2016.
Mayor Gary Skalko