HomeMy WebLinkAbout1972-018 CCR Member Vernon Ausen introduced the following resolution
and moved its adoption:
RESOLUTION NO. 72 -18
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 benefitted 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 $78,000. These notes shall be dated February 14, 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.
February 14, 1972
Date Mayor
Attest:
Clerk_
The motion for the adoption of the foregoing resolution was duly seconded
by member Howard Heck and upon vote being taken thereon, the
following voted in favor thereof: Philip Cohen, john Leary, Vernon Ausen,
Howard Heck and Maurice Britts;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.