HomeMy WebLinkAbout1967-342 CCRMember Theodore Willard
moved its adoption:
introduced the following resolution and
RESOLUTION NO, 67 -342
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. 17, Temporary Improvement
Notes in the amount of $20,000.00. These notes shall be dated
November 27, 1967, and shall be payable out of proceeds of the final
bond issue for the projects. The notes shall bear an interest rate of
4.67% per annum in accordance with Resolution No. 65-45, dated
April 5, 1965, 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 27, 1967
Date
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
member John Leary and upon vote being taken thereon, the following
voted in favor thereof: Philip Cohen, John Leary, Gordon Erickson, Howard
Heck and Theodore Willard,
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.