HomeMy WebLinkAbout1967-232 CCR Member Howard Heck introduced the following resolution and
moved its adoption:
RESOLUTION NO. 67 -232
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 $110, 000.00. These notes shall be dated July 10, 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.
,tea
Tuly 10, 1967
Date Mayor
ATTEST: z�a""6�
Clerk
The motion for the adoption of the foregoing resolution was duly
seconded by member Gordon Erickson 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.