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<br />I I <br /> <br />,. <br /> <br /> <br />.'..' <br /> <br />RESOLUTION NO. 86-62 <br /> <br />Resolution Approving Amendments to Certain <br />Reimbursement Agreements <br /> <br />:! IT IS HEREBY RESOLVED by the City Council of the City of <br />New ~rigthon, Minnesota as follows: <br /> <br />\1. <br /> <br />Ii <br />!' <br /> <br />(a) The City has issued and sold its $8,500,000 <br />Variable Rate Demand General Obligation Tax Increment <br />Bonds Series 1985 and its S2,350,000 Variable Rate <br />Demand General Obligation Capital Improvement Bonds <br />Series 1985. <br /> <br />(b) In connection with the issuance of the tax <br />increment bonds and the capital improvement bonds, <br />the City entered into certain respective Reimbursement <br />Agreements with National Australia Bank Limited. <br /> <br />(c) In order to obtain a rating from Moody's <br />Investor's Service, said rating agency has requested <br />certain amendments to said Reimbursement Agreements, <br />and said amendments are attached to this resolution <br />and made a part hereof. <br /> <br />i12. The City hereby approves the attached amendments to <br />the IReimbursement Agreements, respectively, and authorizes the <br />offi~ers of the City to execute the same on behalf of the City, <br />with!j such minor amendments as may be desirable or necessary, <br />as e~idenced by their execution thereof. <br />I' <br /> <br />(I <br />~ ~ <br /> <br />!: <br /> <br />of <br /> <br />i iAdopted <br />" June <br /> <br />ATTE8iT: <br /> <br />by the New <br />, 1986. <br /> <br />Brighton <br /> <br />day <br /> <br />City <br /> <br />Council <br /> <br />this 24th <br /> <br />~../ .~....-~ <br />~/ ././ <br />Ro~ert J. "~'k~, Mayor ,- <br /> <br />1~~~ <br />Henry S aj Clty Manager <br /> <br /> <br />j., <br /> <br />" <br /> <br />Clerk <br />