RES 1971-144 - 00009566RESOLUTION NO. 144 -1971
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORD:VNCF. 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:
Street Improvement Projects ST. 1970 -1, ST. 1970 -2 and ST. 1970 -4
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 $75,000.00 in the following fund, to -wit:
Regular Special Assessment Fund
which sum will not be required for other purposes prior to November 1, 1974
IT IS THEREFORE Determined to be in the interest of the City of Fridley that the
sum of $75,000.00 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 $75,000.00
of the aforementioned
Street Improvement
Projects ST. 1970 -1, ST. 1970 -2 and ST. 1970 -4 issued
under date of November 1, 1971
UPON Their initial issuance in accordance with the provisions of Minnesota Statutes,
Sec. 429.091, 471.56, and 475.66, out of funds of the 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 the Regular Special
Assessment Fynd
to invest in said temporary improvement bonds
and to be reasonalbe and advantageous to the City to sell said temporary improveme�
bonds to the Regular Special Assessment Fund ,
in accordance With pro
yj5.jons of this resolution.
II
ATTEST:
CITY CLE - Marvin C. Brunsell
_.-
T3 'GR - J?c:< O. tiir sham -
CITY MANAGER - Gerald R. Davis
SEC. 1.
The City Manager
and Treasurer are hereby authorized and
directed
to take
any and all steps
necessa ry to --ffcct the provisions of the
aforegoing
resolutions and to make such
transfer of funds as ma;, be necessary
from time
to time
to give effect to
the provisions hereof,
PASSED AIM ADOPTED BY THE
CITY COUNCIL OF THE CITY OF FRIDLEY THIS
8TH
DAY OF
NOVEMBER
1 1971.
II
ATTEST:
CITY CLE - Marvin C. Brunsell
_.-
T3 'GR - J?c:< O. tiir sham -
CITY MANAGER - Gerald R. Davis