RES 1960-128 - 00012853Section 9. Said temporary improvement bonds shall be
mimeographed and when so mimeographed shall
have attached thereto an interest coupon which Bond and Coupon
shall be substantially in the following form: (See pages 20,
21 and 22 for sample bond and coupon)
ADOPTED AND PASSED BY THE CITY COUNCIL OF THE CITY OF
FRIDLEY, THIS 4TH DAY OF OCTOBER, 1960.
MAYOR - T. E. Greig
G MANAGER - Ear Wagner
ATTEST:
RESOLUTION NO. 128 - 1960
A RESOLUTION DIRECTING THE SALE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORDANCE WITH LAWS OF 1957; CHAPTER 385
BE IT RESOLVED, By the City Council of the City of Fridley,
Anoka County, Minnesota, as follows:
THAT WHEREAS, It has heretofore been determined by this
Council to issue temporary improvement bonds in order to pro-
vide the necessary funds for the construction and payment of
expenses relative to the following improvement projects: to wit:
Sewer and Water Improvement Project #29 -1960 as per plans and
specifications approved by the City Council; and
WHEREAS, It has been determined that there is at the present
time an amount in excess of $90,000.00 in the following fund,
to -wit: SPECIAL ASSESS14ENT FUND (Sinking Account) which sum will
not be required for other purposes prior to September 30, 1962)
IT IS THEREFORE determined to be in the interest of the City
of Fridley that the sum of $90,000.00 of Special Assessment Fund
(Sinking Account) BE INVESTED as authorized by law and in accor-
dance therewith it is hereby determined to purchase the sum of
$90,000.00 of the aforementioned Sewer and Water Improvement Pro-
ject #29 -1960 Bonds, Series "A" temporary issued under date of Sep-
tember 30, 1960 UPON their initial issuance in accordance with the
provisions of Minnesota Statutes, Sec. 429.091, 471.56 and 475.66)
out of the funds in Special Assessment Fund (Sinking Account) and
on behalf of said fund at par and accrued interest as of the date
of delivery of said bonds and completion of such sale; it being
further determined to be reasonable and advantageous to Sinking
Account of the Special Assessment Fund to invest in said tempo-
rary improvement bonds and to be reasonable and advantageous to
the City to sell said temporary improvement bonds to the Sinking
Account of the Special Assessment Fund, in accordance with the
provisions of this resolution.
SECTION 1. The City Manager and Treasurer are hereby
authorized and directed to take any and all
steps necessary to effect the provisions of the aforegoing
resolution and to make such transfer of funds as may be neces-
sary from time to time to give effect to the provisions hereof.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY,
THIS 4TH DAY OF OCTOBER, 196o.
MAYOR -'To E. GGreig,,/l
CITY MANAGER - Earl P. er
ATTEST:
RESOLUTION N0. 129 - 1960
A RESOLUTION DIRECTING THE ISSUANCE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORDANCE WITH LAWS OF 1957, CHAPTER 385
BE IT RESOLVED by the Council of the City of Fridley, Anoka
County, Minnesota, as follows:
SECTION 1. The total estimated cost of Sewer and Water Im-
provement Project #22 -1959 has been estimated to
be in excess of $60,000.00.
SECTION 2. It is now estimated that the sum of $60,000.00
is currently necessary to provide financing of
the projects above noted, and it is hereby determined to be neces-
sary to borrow said amount for the payment of obligations now in-
curred and for expenses necessarily incurred in connection with
the construction of said improvement projects.
SECTION 3. There is hereby created Sewer and Water Improve-
ment #22 -1959 Fund (temporary) which shall contain
a construction account as a part thereof into which shall be paid
all proceeds of temporary bonds issued pursuant to this resolution
and similar subsequent resolutions, and out of which shall be paid
all amounts due and payable as costs or expenses incident to or in-
curred in connection with the making of said improvement.
SECTION 4. There is also hereby created in Sewer and Water
Improvement #22 -1959 Fund (temporary) a Sinking
Fund Account, which account in said Fund may and shall be termed
as the Sinking Fund, into which fund shall be paid the proceeds
of all special assessments levied against benefited property by
reason of the making of said improvements as well as all other
' monies therein to be paid as provided by law and out of which shall
be paid the principal and interest on all temporary improvement
bonds issued to finance said project.
SECTION 5. It is hereby determined that the sum of $60,000.00
shall be borrowed to finance said Sewer and Water
Improvement Project #22-1959 with respect to costs of construction
and expenses necessarily incurred relative thereto to this date, by
the issuance of temporary improvement bonds of the City of Fridley
as authorized in Minnesota Statutes, Sec. 429.01, Subdivision 3, as
amended by laws 1957, Chapter 385.
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