RES 1967-36 - 00010657RESOLUTION NO. 36 - 1967
A RESOLUTION DIRECTING THE SALE AND PURCHASE 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 provide the
necessary funds for the construction and payment of expenses relative
to the following improvement projects to -wit:
STORM SEWER IMPROVEMENT PROJECT NO. 81
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 $10,000.00 in the following fund, to -wit:
REGULAR SPECIAL ASSESSMENT FUND (Sinking Account)
which sum will not be required for other purposes prior to February 1,
1970.
IT IS THEREFORE determined to be in the interest of the City
of Fridley that the sum of $10,000.00 of the Regular Special Assessment
Fund (Sinking Account)
BE INVESTED as authorised by law and in accordance therewith
it is hereby determined to purchase the sum of $10,000.00 of the afore-
mentioned Storm Sewer Improvement Project No. 81 (temporary issued) under
date of February 1, 1967.
UPON their initial assurance in accordance with the provisions
of Minnesota Statutes, Sec. 429,091, 471.56, and 475.66, out of funds
Regular 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 the Sinking Account of the Regular Special Assessment
Fund to invest in said temporary improvement bonds to the Sinking Account
of the Special Assessment Fund, in accordance with 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 provisions of
the aforegoing resolutions 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 CODPCIL OF TOR CITY OF FRIDLEY THIS
6TH DAY OF MARCH, 1967.
l�
YOR - Jack 0. Kirkham
CITY MANAGER - Earl P. Wagner
ATTEST:
CITYCLt Marvin . Brunsell
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