HomeMy WebLinkAbout1982-094 CCR Member Gene Lhotka introduced the following resolution and
moved its adoption:
RESOLUTION NO. 82 -94
RESOLUTION AUTHORIZING THE ISSUANCE OF TEMPORARY IMPROVEMENT
NOTES
WHEREAS, there is a need for interim financing prior to the selling
of bonds to finance certain improvement project costs which are to be assessed
against benefitted properties:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, to authorize the issuance and sale by Special
Assessment Construction Fund No. 58, Temporary Improvement Notes in the amount
of $492,000.00. These notes shall be dated January 4, 1982, and shall be payable
out of proceeds of the final bond issue for the projects. These notes shall bear
an interest rate of 10% per annum in accordance with Resolution No. 81 -95, dated
May 4, 1981, which established an interest rate on loans from the Investment
Trust Fund to other City funds.
BE IT FURTHER RESOLVED that the City of Brooklyn Center Investment
Trust Fund be authorized to purchase these notes.
BE IT FURTHER RESOLVED that the Mayor and City Manager be authorized to
execute the aforementioned notes.
May 24, 1982 4
Date Ma
ATTEST: _0� A
p erk
The motion for the adoption of the foregoing resolution was duly seconded by
member Bill Hawes and upon vote being taken thereon, the
following voted in favor thereof: Dean Nyquist, Gene Lhotka, Celia Scott,
Bill Hawes, and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.