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Grafton council adopts resolutions including $7 million bond for Blue Line Club project
Summary
The City of Grafton council unanimously adopted Resolution No. 1817 to cancel abandoned checks and Resolution No. 1818 approving financing for a $7,000,000 facilities revenue bond for the Grafton Blue Line Club, Inc. project, Series 2025; roll-call votes recorded all present members in favor.
The City of Grafton City Council on Nov. 10 adopted two resolutions, including a financing approval for a $7,000,000 facilities revenue bond tied to the Grafton Blue Line Club, Inc. project.
On a motion moved by Greg Young and seconded by Brian Sieben, the council adopted Resolution No. 1817 "A RESOLUTION TO CANCEL OUTSTANDING ABANDONED CHECKS AND TRANSFER FUNDS TO UNCLAIMED PROPERTY DIVISION OF THE STATE OF NORTH DAKOTA." The motion carried unanimously with members present voting in favor and one member absent.
The council then moved, on a motion by Brad Burianek seconded by Greg Young, to adopt Resolution No. 1818, "RESOLUTION APPROVING FINANCING FOR $7,000,000 CITY OF GRAFTON, NORTH DAKOTA FACILITIES REVENUE BOND (GRAFTON BLUE LINE CLUB, INC. PROJECT), SERIES 2025." The roll-call vote recorded votes in favor by Brad Burianek, Donavon McMillian, Loree Osowski, Phil Ray, Brian Sieben, Darrin Wollitz and Greg Young; Mayor Chris West declared the motion carried. Member Kylen Kostrzewski was absent.
The meeting record does not include financing terms (interest rate, underwriter, or repayment schedule) or a disbursement timeline for bond proceeds. The transcript identifies the bond amount and project name but does not specify whether the city will serve as issuer, guarantor, or collateral provider beyond the phrase "facilities revenue bond."
