HomeMy WebLinkAbout2003-180 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2003-180
RESOLUTION DESIGNATING USE OF FUNDS RECEIVED FROM SINGLE
FAMILY MORTGAGE REVENUE REFUNDING BONDS, TAXABLE SERIES
1992A
WHEREAS, the cities of Brooklyn Center, Moorhead, and Columbia Heights and
the Robbinsdale Economic Development Authority issued single family housing bonds; and
WHEREAS, in connection with refunding of those bonds, funds were accumulated
that have been distributed among the issues as a final distribution of assets from the 1992
transactions; and
WHEREAS, those funds may be used for any city purpose; and
WHEREAS, the reconstruction of neighborhood streets is a high priority and is in
1
need of additional funding.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that the $183,639.01 received from the U.S. Bank Trust from the series 1992C
convertible capital appreciation bonds which was deposited in the General Fund upon receipt be and
hereby are designated for use in the neighborhood street reconstruction project and that the same be
transferred from the General Fund to the Street Construction Fund.
November 10, 2003
Date
Mayor
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Bob Peppe
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Ka Lasman, Diane Niesen, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.