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12/29/47 <br />NINUTES OF THE ADJOURNED PORTION OF THE <br />DECENBER 8, 1947 REGULAR MEETING OF THE <br />EDINA VILLAGE COUNCIL, HELD DECEM3ER 29, 1947, AT 8:OO P.M, <br />( 3'39 <br />Nembers present were ICillson, UtEey, Hawthorne and Christopher, with Utley arriving <br />late as recorded below. <br />Motion by :?illson, approving Minutes of Meeting of December 8, 1947 as submitted, <br />was *secorded by Hawthorne and carried. <br />It <br />Hawthoie offered. the following Resolution and moved its adoption: <br />= FESOLUTION FOR TZEPAYHEXT BY PERQI"T <br />IMPROVEI~IT REVOLVING FUND TO GFXERAL * <br />* FUND FOR LOANS ElADE DURING YEAR 1946 * - FOR CONSTRUCTIOH IN PRCGlBSS <br />WHEXEAS, Pursuank to "Resolution for the Establishment of a Permanent hprove- <br />ment Revolving Fund," adopted by the Village fi?ouncil December 31, 1946, the follow- <br />ing moneys were loaned*by the General Fund to the Permanent Improvement Revolving <br />Fund to finance constraction in progress on the following projects: <br />Water $lain Improvement No. 7 (Market Street) $ 63.35 ' <br />Water Main Improvement No. 8 (Edina Hills) <br />Sanitary Sewer District No. 10 (Mwket Street) 933.39 * * <br />Sanitary Sewer Dfstrict No, 20 (Edina Hills) <br />13.57 - Grading-Market Skreet , Including Purchase of Land L 3,054,02 -: <br />Sanitary Sewer District No.19 (11. 49th Street) 92.75 * <br />-54.99 ' -16.30 ' <br />I <br />Storm Sewer District-Bo. 13 (Bruce Place) <br />Storm Sew& District No. 12 (Market Street & Halifax Avenue) 334.74 -_ <br />Street Improvement No. 1: <br />Paving France Avenue $9,715.88 - <br />50th Street Widening 8,459007 18,174.75 <br />Curb and Gutter, Oak Drive <br />Curb and Gutter, France - 5lst to 52nd Street <br />which loan from theSGenera1 Fund to the Permanent Improve ent Revolving Ftmd for con- <br />struction in progress during the year 1946 totalled $24, 4 2.84, as recorded in the <br />General Ledger of the Village of Edina, Account 5-54b; and <br />l$@6.26 ' 68.52 * <br />WHEREAS, Special Assessment Warrants have been issued in the year 1947 for Water <br />Main Improvements No. 7 and 8, Sanitary Sewer District No. 18, 19, and 20, and Street <br />Improvement No. 1, and said Funds have repqid to the Pemanent Improvement Revolving <br />Fund the amounts expended in the year 1946 for Construction in Progress; and the <br />Permanent Improvement Revolving Fund has in turn repaPd the General Fund its loan <br />to this Fund for these projects in the total amount of $19,329.&, leaving a Net <br />Loan from the Generzl Frmnd to the Permanent Improvement Revolving Fund for Construction <br />in Progress during 1946 *in the amount of $4,973.80 as of *December 29, 1947; and <br />WHEIZFAS, by Resolution Adopted November 6, 194@,, The Village Council sold $190,000 <br />Permanent Improvement Revolving Fund Bonds to finance Construction in Progress in 1947, <br />of which the follming projects listed above are a part: <br />Grading - Market Street, Including Purchzse of Land <br />Curb and Gutter, Oak Drive <br />Curb and Gutter, France-5Lst to 52nd Street <br />- <br />- * <br />NOW, TI-IEWFOLRE, BE IT EZESOLVEI), that the Permanent Improvement-Revolving Fund <br />rep2y to the General Fund the amounts listed above for loans made in the year 1946, <br />total repayment from proceeds of Permanent Improvement Revolving Fund Bonds to be <br />$4,608.80, and such repanpent to be considered as Adbnces by the Permanent Improve- <br />ment Revolving Fund to the above named projects in the amounts abobe listed, <br />BE IT FURTHER FESOLVED that the amounts df $16,30 for Storm Sewer District No. <br />1.3, and $933.39 for Storm Sewer District No. 12 remain as loans from the General Fund <br />to the Permanan6 Improvement Revolving Fund until such time as Special Assessment <br />returns are received for Storm Sewer District Eo. 13, and until such time 2s Permanent <br />Improvement Revolving Funds Bonds are sold to finance the construction of Storm Sewer <br />District <br />ment Revolving Fund as of December 31, 1947, for construction in progressrl&k&g 1946 No, 12, such loan outstanding from the General Fund to the PemwbnB Improve- <br />to be #949.69. <br />Motion to adopt the Resolution was seconded by Willson, and on Rollcall there were <br />three ayes and no nays, as follows: <br />aye; and the Resolution was adopted. <br />Willson, aye; Hawthorne, aye; and Christopher, <br />-7 President of the Village Council <br />Vrtllage Cl'erk