HomeMy WebLinkAbout1977-154 CCR Member Tony Kuefler introduced the following resolution and
moved its adoption:
RESOLUTION NO. 77 -154
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 of Special
Assessment Construction Fund No. 58, Temporary Improvement Notes in the
amount of $35,000. These notes shall be dated July 25, 1977, 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 d City Manager be authorized
to execute the aforementioned notes.
w...
August 8, 1977
Date Mayor
ATTEST: /022
v C lerk
The motion for the adoption of the foregoing resolution was seconded by
member Gene Lhotka and upon vote being taken thereon, the
following voted in favor thereof: Philip Cohen, Maurice Britts, Tony Kuefler,
Bill Fignar, and Gene Lhotka;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.