HomeMy WebLinkAbout1979-292 CCRMember Bill Fignar introduced the following resolution
and moved its adoption:
RESOLUTION NO. 79 -292
RESOLUTION AUTHORIZING THE ISSUANCE OF TEMPORARY
IMPROVEMENT NOTES
1
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 benefited 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 $130,000.00. These notes shall be dated December 17,
1979, and shall be payable out of proceeds of the final bond issue for
the projects. These notes shall bear an interest rate of 6% per annum
in accordance with Resolution No. 74 -32, dated February 25, 1974, 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 Invest-
ment 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.
December 17, 1979
Date
Clerk
Mayor
The motion for the adoption of the foregoing resolution was duly seconded
by member Celia Scott and upon vote being taken thereon, the. following
voted in favor thereof: Dean Nyquist, Tony Kuefler, Bill Fignar, and
and Celia Scott;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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