RES 1970-30 - 00009668RESOLUTION NO. 30 -1970
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORDANCE WITH LAWS OF 1957, CHAPTER 365
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 con-
struction and payment of expenses relative to the following improvement projects
to -wit: Sanitary Sewer and Water Project No. 91 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 $15,000.00 in the following fund, to -wit: Regular Special Assessment
Fund which sum will not be required for other purposes prior to January 1, 1973.
IT IS THEREFORE determined to be in the interest of the City of Fridley that
the sum of $15,000.00 of the Regular Special Assessment Fund
BE INVESTED as authorized by law and in accordance therewith it is hereby
determined to purchase the sum of $15,000.00 of the aforementioned Sanitary
Sewer and Water Project No. 91, issued under date of January 1, 1970.
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
Assessment 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 Assessment Fund,
to invest in said temporary improvement bonds and to be reasonable and advantageous
to the City to sell said temporary improvement bonds to the Regular Special
Assessment Fund in accordance with 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
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 16TH DAY
OF FEBRUARY, 1970.
YOR - JA K 0. KIRKHAM
ATTEST:
CITY CL b� C. BRUNSELL