RES 1964-141 - 00011763RESOLUTION NO. 141 -1966
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPO-
RARY IMPROVEMENT BOND IN ACCORDANCE WITH LAWS OF 1957,
CHAPTER 335
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 ex-
penses relative to the following improvement projects, to -wit:
Water and Sanitary Sewer Imsrovement Project No. 66 as per plans
and specifications approved_ bathe City Council; and
WHEREAS it has been determined that there is at the present
time an amount in excess of w12,000.00 in the following fund,
to -Wit:
REGULAR SPECIAL ASSESSMENT - SINKING FUND which sum will not be
required for other purposes prior to July 1, 1966.
IT IS THEREFORE determined to be in the interest of the City
of Fridley that the sum of $12,000.00 of REGULAR. SPECIAL ASSESS,R;NT
FUND - 3IivK1NG ACCOUNT
BE INVESTED as authorized by law and in accordance therewith
it is hereby determined to purchase the sum of $12,000.00 of the
aforementioned lIater and Sanitary Sewer Improvement Proiect No. 6
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 Regular S ecial Assess -ient 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
Regular Special Assessment Fund to invest in said temporary im-
provement bonds and to be reasonable and advantageous to the City
to sell said Temporary Improvement Bond to the Sinking Account of
the Special Assessment Fund, in accordance with the provisions of
this resolution.
SEC. 1. The City Manager and Treasurer are hereby authorized and
directed to take any and all steps necessary to effect the provi-
sions of the aforegoing resolutior_s and to make such transfer of
funds as may be necessary from time to time to give effect to the
provisions hereof.
PASSED AND ADOPTED BY THE.CITY COUNCIL OF FRIDLEY THIS
7TH DAY OF JULY, 1964.
ATTEST:
CITY CT
L' Marvin C. Brunsell
MAYOR - williar . Nee
CITY MANAGER - Earl P. Wagner
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