HomeMy WebLinkAbout1973-148 CCR Member John Leary introduced the following resolution and moved its
adoption:
RESOLUTION NO. 73 -148
RESOLUTION AUTHORIZING THE ISSUANCE OF TEMPORARY IMPROVE-
MENT 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 $53,000. These notes shall be dated September 10, 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 FURHTER RESOLVED that the Mayor and City Manager be authorized
to execute the aforementioned note.
Se ptember 10, 17
Date Mayor
ATTEST: i//,G.��
Clerk
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, John Leary, Maurice Britts, Bill Fignar,
and Tony Kuefler;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.