HomeMy WebLinkAbout1967-187 CCR Member John Leary introduced the following resolution
and moved its adoption:
RESOLUTION NO. 67 -187
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. 17 Temporary
Improvement Notes in the amount of $24,000.00 These notes shall
be dated June 12, 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; and
BE IT FURTHER RESOLVED that the City of Brooklyn Center
Investment Trust Fund be authorized to purchase these notes; and
BE IT FURTHER RESOLVED that the Mayor and the City
Manager be authorized to execute the aforementioned note.
June 12, 1967
Date Mayor
1
ATTEST:
City Ct'erk
The motion for the adoption of the foregoing resolution was
duly seconded by member Theodore Willard and upon vote being
taken thereon, the following voted in favor thereof: Philip Cohen,
Howard Heck, John Leary, Gordon Erickson and Theodore Willard,
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.