RES 1962-198 - 00012608220
RESOLUTION NO. 198 -1962
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVE14ENT
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 Wfi,EAS it has heretofore been determined by this council to
issue temporary improvement bonds in order to provide the necessary
funds for the construction and payment of expenses relative to the
following improvement projects: to -wit:
_ eat ; and
4'I?EREAS it has been determined t there is at the present time an
amount in excess of 85,000.00 in the following fund, to -wit:
REGULAR SPECIAL ASSESSMENT FUND (Sinking Account)
which sum will not be re-
quired for other purposes to December 1. 1964,
IT IS THEREFORE determined to be in the interest of the City of Fridley
that the sum of 885.000.00 of SPECIAL ASSESSMENT FUND (Sinking Account)
_ BE IA?VESTED as authorized by
law and in accordance therewith it is nereby determined to purchase the
sum of ?85,000.00 of the aforementioned STOiY Sfd•T'R, SANITARY S E ,r R & '.'ATER
'n'P7)MTP1,?'.NT 7DW)TF(r-, ,\'n rp Hnnrla cz,i., ttOtt +.m --- n»a A7 +e ..P
UPON their initial issuance in accordance with the provisions of Minnesota
S`.atutes, Sec. 429.091, 471.56 and 471.66, out of the funds in
REGULAR SPECIAI ASS�SS;P'ENT FUND (Sinking Account) and on
behalf of said fund at par and accrued interest as of the date of deliv-
ery of said bonds and completion of such sale; it being further determined
to be reasonable and advantageous to Sinking account of the Regular•Spec-
ial Assessment blind to invest in said temporary improvement bonds and
to be reasonable and advantageous to the City to sell said temporary
improvement bonds to the Sinking Account of the Regular Special Assessment
Fun a, In accordance with he provisions of t'is resolution.
SEC. 1 The City Manager and Treasurer are hereby authorized and directed
to take any and all steps necessary to effect the provisions of the afore -
going resolution and to make such transfer of funds as may be necessary
from time to time to give effect to the provision hereof.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 3RD
DAY OF DECE!,'BER, 1962.
ATTEST:
C�
CITY CL - Marvin C. Brunse'l
MAYO - T.E. Greig
CITY MANAGER - Earl P. Aagner
1
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