HomeMy WebLinkAbout1999-005 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. Qa_n
RESOLUTION SETTING SPECIAL ASSESSMENT AND INTERNAL LOAN
INTEREST RATFS FOR-TIM-)MAR 1999
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 23, 1998
at a net interest cost of 4.0984%.
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 6.0%, effective for the
year 1999.
Tanuary 11, 1980
Date
ATTEST: (w
City Clerk
Mayor r
The motion for the adoption of the foregoing resolution was duly seconded by member
Robert Peppe , and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Debra Hilstrom, Kay Lasman, F id and Robert Peppe;
and the following voted against the same:
none,
whereupon said resolution was declared duly passed and adopted.