HomeMy WebLinkAbout1968-248 CCRMember John Leary introduced the following
resolution and moved its adoption:
RESOLUTION NO. 68 248
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 authorized the issuance
and sale by Special Assessment Construction Fund No. 18. Temporary
Improvement Notes in the amount of $56,000.00. These notes
shall be dated November 12, 1968, and shall be payable out of
proceeds of the final bond issue for the accordance with Resolution
No. 68 -113, dated May 13, 1968, which established a method to
determine interest rates on funds loaned to other City Funds
from the Investment Trust Fund:
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 the City Manager
be authorized to execute the aforementioned note.
November 12, 1968
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly
seconded by member EarlRydberg and upon vote being
taken thereon, the following voted in favor thereof: Philip;. Cohen,
John Leary, Earl Rydberg, ani Howard Heck; and the following voted against the
same: none, whereupon said resolution was declared duly
passed adopted.