HomeMy WebLinkAboutResolution No. 311-09 q
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RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City approve
of and execute a Loan Agreement and Promissory Note with the Rochester Community and
Technical College Foundation, consistent with the terms described to the Council on July 20,
2009, for a loan of up to $1.276 million with interest for the construction of the Rochester Sports
Stadium Recreational Bubble.
BE' IT FURTHER RESOLVED that the City's approval of the Loan Agreement and
Promissory Note is subject to the City Administrator's and City Attorney's review of the final draft
of the Agreement's and Note's terms and conditions.
The Mayor and City Clerk are authorized and directed to execute this agreement on
behalf of the City.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS 90M DAY OF , 2009.
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.IJG�
PRESIDENT OF SAID COMMON COUNCIL
ATTEST:
CITY CLERK
APPROVED THIS �.5r DAY OF ��f!' , 2009.
40,
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
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