HomeMy WebLinkAbout2000-003 CCRMember Kay Tasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. nn_03
RESOLUTION SETTING SPECIAL ASSESSMENT AND INTERNAL LOAN
INTEREST RATES FOR TEAR 2000
WHEREAS, the City Council adopted by motion a policy on special assessment and
internal loan interest rates on May 13, 1996; and
WHEREAS, the policy on interest rates calls for the rate to set at the rate from the
last bond sale plus 2%, with the result rounded off to the nearest half percent; and
WHEREAS, the City of Brooklyn Center last sold bonds on November 22, 1999
at a net interest cost of 4.8614%.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, that the annual rate of interest to be charged on special assessments
and on loans by the Investment Trust Fund to all other City funds be set at 7.0effective for the
year 2000.
Januarv 10. 2000
Date
~Mayor
ATTEST:J',
City Cler
The motion for the adoption of the foregoing resolution was duly seconded by member
Fd Nelson , and upon vote being taken thereon, the following voted in favor thereof.
Myrna Kragness, Debra Hilstrom, Kay Tasman, Fd Nelson, and Robert Peppe;
and the following voted against the same:
none;
whereupon said resolution was declared duly passed and adopted.