HomeMy WebLinkAbout1973-165 CCR Member Maurice Britts introduced the following resolution and
moved its adoption:
RESOLUTION NO. 73 -165
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 Assess-
ment Construction Fund No. 21, Temporary Improvement Notes in the amount
of $25,000. These notes shall be dated September 24, 1973 and shall be payable
out of proceeds of the final bond issue for the projects. These notes shall bear an
interest rate of 5% per annum in accordance with Resolution No. 71 -107, dated
May 24, 1971, 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 note.
October 1. 1973
Date C Mayor
ATT EST:
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: Philip Cohen, Maurice Britts Bill Fignar,
and Tony Kuefler;
and the following voted against the same. none,
whereupon said resolution was declared duly passed and adopted.