HomeMy WebLinkAbout1997-028 CCR1
adoption:
Member Kathleen Carmody introduced the following resolution and moved its
RESOLUTION NO. 97
RESOLUTION SETTING SPECIAL ASSESSMENT AND INTERNAL LOAN
INTEREST RATES FOR THE 1997
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 September 23, 1986 at a net
interest cost of 4.9829
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 effective for the year 1997.
February 10, 1997 Y22,01?
Date U Mayor
1
ATTEST: flaktflt krz—
City Clerk
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, Kathleen Carmody, Debra Hilstrom, Kay Lasman, and Robert Peppe;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.