HomeMy WebLinkAbout1974-194 CCR Member Maurice Britts introduced the following resolution and moved its
adoption:
RESOLUTION NO. 74 -194
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 $114,000. These notes shall be dated November 12, 1974, and shall be payable
out of proceeds of the final bond issue for the projects. These notes shall bear an
0
interest rate of 6/o 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 18. 1974
Date Mayor
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
member Robert Jensen and upon vote being taken thereon, the following voted
in favor thereof: Philip Cohen, Maurice Britts, Tony Kuefler, Robert Jensen and
Bill Fignar;
and the following voted against the same: none,
whereupon said resolution w u and
p as declared duly passed adopted.
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