HomeMy WebLinkAbout1985-160 CCRMember Bill Hawes introduced the following resolution and moved its
adoption:
RESOLUTION NO. 85 -160
RESOLUTION APPROVING THE FINAL TERMS OF THE CITY OF BROOKLYN CENTER,
MINNESOTA, MULTIFAMILY HOUSING REVENUE BONDS (BROOKWOOD ESTATES PROJECT)
WHEREAS, the City of Brooklyn Center the "City has by Resolution No. 85-
142 adopted August 12, 1985 approved the issuance of its Multifamily Housing Revenue
Bonds (Brookwood Estates Project) (the "Bonds"), in the aggregate principal amount
of $3,600,000; and
WHEREAS, the final maturities and interest rates for the Bonds have been
established by the underwriter of the Bonds upon offering the Bonds to the public;
NOW, THEREFORE, BE IT RESOLVED by the City of Council of the City of Brooklyn
Center, Minnesota:
Section 1. The Bonds shall mature in the following amounts and bear
interest at the following rates per annum:
Date
Amount
Interest Rate
August 1, 1988 20,000 6.25%
August 1, 1989 30,000 6.75
August 1, 1990 30,000 7.25
August 1, 1991 30,000 7.75
August 1, 1992 35,000 8.00
August 1, 1993 40,000 8.25
August 1, 1994 40,000 8.40
August 1, 1995 50,000 8.40
August 1, 1996 55,000 8.75
August 1, 1997 60,000 8.75
August 1, 1998 65,000 8.75
August 1, 1999 70,000 8.75
August 1, 2000 3,075,000 8.75
August 26, 1985
Date
ATTEST:; j
Jerk
f
Mayor
The motion for the adoption of the foregoing resolution was duly seconded by
member Rich Theis, and upon vote being taken thereon, the following voted in favor
thereof: Dean Nyquist, Gene Lhotka, Bill Hawes, and Rich Theis; and the following
voted against the same: none, whereupon said resolution was declared duly passed
and adopted.