RES 1968-161 - 00010552260
RESOLUTION NO. 161= _ �9bt,
A RESOLUTION DIRECTING THE SALE AND PURCHASE 01' TFMPORARY IMPROV"IENT ,
BONDS IN ACCORI)NNG: Willt LADS OF 1957, CHAPTER 385
BE IT RESOLVED By the City Council of the City of Fridley, Anoka County, Minnesota,
a$ 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:
Sanitary Sewer, Water and Storm Sewer Improvement Project No. 88
as per pla roved by the City Council: and
WHEREAS It has been determined that there is at the present time an amount in
excess of $30,000.00
Regular Special Assessments
in the following fund, to -wit:
which sum will not be required for other purposes prior to October 1, 1971
IT IS THEREFORE Determined to be in the interest of the City of Fridley that the,
sum of $30,000.00
P_
BE INVESTED As authorized by law and in accordance therewith it is hereby determined
to purchase the sum of $30,000.00 of the aforementioned Sanitary Sewer,
Water and Storm Sewer Improvement Project No. 88 1 issued
under date of October, 1, 1968
UPON Their initial issuance in accordance with the provisions of Minnesota Statutes,
Sec, 429,091, 471.56, and 475.66, out of funds Regular Special Assessments,
Sinking Fund 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 Regular
Special Assessments to invest in said temporary improvement bonds
and to be reasonabbe and advantageous to the City to sell said temporary improvement
bonds to the Sanitary Sewer, Water and Storm Sewer Improvement Project No. 88
in acc- -9ance with prpyjAions of this resolution.
I
ATTEST:
t
CITY CLERK - Mhrvin C Brunsell
261,
Resolution #161 -1968
Continued
=C% 1. The City Manager
and Treasurer are
hereby authorized and directed
to take any and all steps
necessary to e`fcct
the provisi :;a of the afuregoing
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 COUNCIL OF
THE CITY OF FRIDLEY THIS 7TH
DAY OF OCTOBER
1988,
YOR - Jack. 0. Kirkham -�
I
ATTEST:
t
CITY CLERK - Mhrvin C Brunsell
261,