HomeMy WebLinkAbout1972-188 CCR1
1
1
Member John Leary
and moved its adoption:
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. 20, Temporary Improvement
Notes in the amount of $60,000. These notes shall be dated November 13, 1972
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.
November 13, 1972
Date
ATTEST :C
Clerk
RESOLUTION NO. 7 ?_188
introduced the following resolution
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, Howard Heck, and Maurice Britts
and Vernon Ausen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.