HomeMy WebLinkAbout1972-136 CCR f
Member Maurice Britts introduced the following resolution
and moved its adoption:
RESOLUTION NO. 72 -136
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
Assessement Construction Fund No. 20, Temporary Improvement Notes in
the amount of $29 000.00. These notes shall be dated July 24, 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 /o 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 24, 1972 a
Date Mayor
The The motion for the adoption of the foregoing resolution was duly seconded
by member Vernon Ausen, and upon vote being taken thereon, the follow
ingvoted in favor thereof: Philip Cohen, Vernon Ausen, Howard Heck
and Maurice Britts;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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