HomeMy WebLinkAbout1981-096 CCRMember Tony Kuefler introduced the following resolution
and moved its adoption:
RESOLUTION NO. 81 -96
RESOLUTION AUTHORIZING THE ISSUANCE OF TEMPORARY IMPROVE-
MENT 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 $775,000. These notes shall be dated January 2, 1981, 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.
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 4, 1981
Date Mayor
G�
ATTEST:_
�C1erk
The motion for the adoption of the foregoing resolution was duly seconded by
member Gene Lhotka and upon vote being taken thereon, the following
voted in favor thereof: Dean Nyquist, Tony Kuefler, Bill Fignar, Gene Lhotka,
and Celia Scott;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.