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Page 3 of 4 <br />---------- - - - - -- <br />used to pay legal and professional expenses and minor <br />building renovations. The balance will be consolidated with <br />the remaining Certificates of Deposit in the near future. In <br />the meantime, the balance of the money will be placed in <br />the Library checking account. It is the intent to have a CD <br />that will cover the $52,500 collateral for the Larsen loan. <br />Council Action Requested: The following motions will <br />be requested of the Council: <br />1. Council motion adopting Resolution 09 -16 Regarding <br />City Library Real Estate Acquisition and the attached <br />Agreement. <br />2. Council motion adopting Resolution 09 -17 Providing <br />for the Issuance and Sale of $110,000 Taxable Library <br />Revenue Bonds, Series 2009A and 2009B. <br />3. Council motion approving the form of the loan <br />agreement for the John Larsen Foundation. <br />4. Council motion to redeem the following Certificates <br />of Deposit to be used toward the building purchase: <br />Lakes State Bank: #21340 $109573.99 <br />Lakes State Bank: #21850 $109376.71 <br />Lakes State Bank: #21871 $105277.75 <br />American National Bank: #6097 $105086.01 <br />5. Council motion to redeem the following Certificate <br />�- of Deposit: <br />