HomeMy WebLinkAbout1991-128 CCR Member Philip Cohen introduced the following resolution
and moved its adoption:
RESOLUTION NO. 91 -128
RESOLUTION OPPOSING ARTICLE V, SECTION I, SUBDIVISION V
OF HOUSE FILE 1086
WHEREAS, this particular section of House File 1086 will
have an adverse affect on the quality of the general obligation
credit of Minnesota cities and counties; and
WHEREAS, this particular provision could create the
situation where many Minnesota bonds would become junk bonds with
all their undesirable characteristics; and
WHEREAS, this particular provision will hamper Minnesota
cities and counties in the availing themselves to national credit
markets at reasonable interest rate costs.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL of the
City of Brooklyn Center, Minnesota that the Council hereby opposes
the implementation of this section of House File 1086 as it would
do substantial damage to the quality and availability of credit to
Minnesota cities and counties.
April 29, 1991
Date �p Todd Paulson, Mayor
ATTEST tom°
Deputy Cler
The motion for the adoption of the foregoing resolution was duly
seconded by member Dave Rosene, and upon vote being taken thereon,
the following voted in favor thereof: Todd Paulson, Celia Scott,
Jerry Pedlar, Dave Rosene and Philip Cohen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.