HomeMy WebLinkAbout1975-116 CCR Member Bill Fignar introduced the following resolution and moved
its adoption:
RESOLUTION NO. 75 -116
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. 21, Temporary Improvement Notes in the
amount of $35,000. These notes shall be dated June 9, 1975, 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.
June 23, 1975
Date Mayor
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ATTEST:
V C 19rk
The motion for the adoption of the foregoing resolution was duly seconded by
member Maurice Britts and upon vote being taken thereon, the following
voted in favor thereof: Philip Cohen, Maurice Britts, Tony Kuefler, Bill
Fignar and Robert Jensen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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