HomeMy WebLinkAbout1972-198 CCR1
Member Howard Heck introduced the following resolution and
moved its adoption:
RESOLUTION NO. 79_1QR
RESOLUTION CALLING FOR PREPAYMENT OF GENERAL OBLIGATION
OF THE 1955A FUND
WHEREAS, under the terms of the 1955A Fund Street Improvement
Bonds issued September 1, 1955, the City of Brooklyn Center may
call all bonds maturing on January 1, 1970, and thereafter on
January 1, 1966, and any interest payment date thereafter at par
plus accrued interest; and
WHEREAS, by January 1, 1973, the 1955A Fund will have accrued
sufficient monies to redeem all outstanding bonds of the Fund due on
January 1, 1974, through January 1, 1976; and
WHEREAS, July 1, 1973, is the next interest payment date after
January 1, 1973; and
WHEREAS, the Redemption of such bonds will cause a substantial
savings of interest expense to the City of Brooklyn Center; and
WHEREAS, the redemption of such bonds will satisfy all outstanding
obligations of the Fund:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Brooklyn Center, Minnesota that the City give notice to the paying
agent and the last known bond holders that all bonds maturing of the
1955A Street Improvement Bonds on January 1, 1974, through January 1,
1976, are hereby called for payment as of July 1, 1973; and
BE IT FURTHER RESOLVED that the Cit T easurer is hereby authorized
necessary to call the bonds.
and instructed to take whatever ac
ATTEST:
17ar.amher 18, 1Q72
Date
Mayor
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, Vernon Ausen, and Maurice Britts;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.