City Council Resolution 2015-31ACITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2015-031A
AUTHORIZING APPLICATION TO THE MINNESOTA PUBLIC FACILITIES
AUTHORITY FOR A LOAN FROM THE CLEAN WATER FUND/DRINKING
REVOLVING FUND FOR IMPROVEMENTS TO THE DRINKING WATER AND
MUNICIPAL WASTEWATER TREATMENT SYSTEMS
WHEREAS, the City of Monticello hereby intends to apply 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; and
WHEREAS, the City of Monticello estimates the loan amount to be $2,982,000 or the as -bid
cost of the project; and
WHEREAS, the City of Monticello has the legal authority to apply for the loan and die
financial, technical, and managerial capacity to repay the loan and ensure proper construction,
operation and maintenance of the project for its design life.
NOW, THEREFORE, BE IT RESOLVED, that the City of Monticello authorizes submission
of an application to the Minnesota Public Facilities Authority for a loan from the Clean Water
Fund/Drinking Revolving Fund for improvements to the drinking water and municipal
wastewater treatment systems.
BE IT FURTHER RESOLVED, that the City of Monticello hereby expresses its official intent
to use proceeds of this loan to reimburse construction expenditures made prior to the issuance of
its general obligation bond to the Public Facilities Authority.
ADOPTED BY the Monticello City Council on the 22 "d day of June, 2015.
CITY OF NTICELLO
Brian Stumpf, May
ATTEST:
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JejfqVill, City Administrator
CERTIFICATION
STATE OF MINNESOTA
COUNTY OFWRIGHT
I hereby certify that the foregoing is a true and correct copy of Resolution #2015 -031A
duly passed, adopted and approved by the Monticello City Council at their regularly- scheduled
meeting on June 22 "d, 2015, and recorded in minutes of said meeting.
Kerry Berri, Interi City Clerk
Notary Public: ~ Zze
VICKI JAN LEERHOFF
Notary PublicMinnesota
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