HomeMy WebLinkAbout1974-112 CCR Member Tony Kuefler introduced the following resolution and moved its
adoption:
RESOLUTION NO. 74 -112
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 $25,000. These notes shall be dated July 8, 1974, 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.
Tuly 22. 1974
Date Mayor
s V
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, Tony Kuefler, Bill Fignar and Robert Jensen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.