HomeMy WebLinkAbout1979-273 CCRMember Tony Kuefler introduced the following resolution
and moved its adoption:
RESOLUTION NO. 79-273
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 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 Improve-
ment Notes in the amount of $70,000. These notes shall be dated
November 19, 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
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.
November 19, 1979
Date Mayor
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly seconded
by member Bill Fignar 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.
n
iu