1979-133I ~
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HRA RESOLUTION N0. 133
RESOLUTION AUTHORIZIDIG THE
EXTENSION OF AN AGREEMENT TO
BORROW MONEY FROA'i THE CITY
OF RICHFIELD
(6610 Graham~Avenue)
WHEREAS, the~Richfield Housing and Redevelopment
Authority (HRA) desires td continue to borrow money for the
purpose of funding certain real property pursuant to and in
furtherance of the L/H/N Redevelopment Project heretofore -
adopted by the City of Richfield (the "City") and the HRA,
said real property being described as follows: Lot 9, Block 3
Fairwood Shores, Hennepin County, Minnesota (6610 Graham Avenue).
WHEREAS, the HRA is authorized by Minnesota Statutes,
Section 462.445 to purchase real property and to borrow money
from the City therefore, and
WHEREAS, the City is authorized by A~innesota Statutes,
Section 462.581 to make loans to the HRA in aid of projects,
_ _ NOW, THEREFORE, BE IT RESOLVED BY THE RICHFIELD HOUSING
AND REDEVELOPMENT AUTHORITY:
1. That the Chairman and the Executive Director by, and
hereby are authorized to execute, as agents of the Richfield
Housing and Redevelopment Authority, an agreement with the
City of Richifeld entitled "Loan Extension Agreement," a copy
of which is hereby given Clerk's File No. -23 and is ordered
placed on file. -
2. That the Executive Director be, and hereby is directed
to present said agreement to the City of Richfield for its
consideration and acceptance. -~
Passed by the Housing and Redevelopment Authority of
Richfield this 10th day of December, 197 .
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L ren L. Law C. airman
ATTEST : •`~
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V. L. Luettinger, Secretary