HomeMy WebLinkAbout1973-119 CCRMember John Leary
its adoption:
RESOLUTION NO. 73 -119
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 $40,000.00. These notes shall be dated July 9, 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.
July 23, 1973
Date
ATTEST:
.a
lerk
introduced the following resolution and moved
The motion for the adoption of the foregoing resolution was duly seconded
by member Tony Kuefler 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.