RES 1971-159 - 00009601219
as follows:
Council of the City of Fridley, Anoka County, Minnesota,
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:
Locke Lake Dam Improvement Project No. 104
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
which sum will not be required for other purposes prior to December 1, 1974
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
BE INVESTED As authorized by law and in accordance therewith it is hereby determined
to purchase the sum of $10,000.00 of the aforementioned Locke Lake Dam
Improvement Project No. 104 issued
under date of December 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 Fund to invest in said temporary improvement bonds
' and to be reasonalbe and advantageous to the City to sell said temporary improvement
bonds to the Regular Special Assessment Fund
in accordance with} pppyjpions of this resolution.
RESOLUTION NO.
159
1971
A RESOLUTION DIRECTING THE SPJ.E AND PURCHNSE OF TEMPORARY IMPROVEMENT
BOLDS IN ACCORDANCE: WITH
LA:dS OF
1957, CHAPTER 385
( LOCKE LAKE IMPROVEMENT
PROJECT
#104)
'
BE IT RESOLVED By the City
as follows:
Council of the City of Fridley, Anoka County, Minnesota,
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:
Locke Lake Dam Improvement Project No. 104
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
which sum will not be required for other purposes prior to December 1, 1974
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
BE INVESTED As authorized by law and in accordance therewith it is hereby determined
to purchase the sum of $10,000.00 of the aforementioned Locke Lake Dam
Improvement Project No. 104 issued
under date of December 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 Fund to invest in said temporary improvement bonds
' and to be reasonalbe and advantageous to the City to sell said temporary improvement
bonds to the Regular Special Assessment Fund
in accordance with} pppyjpions of this resolution.
-` 94
SEC��1. The City Manager and Treasurer are hereby authorized and directed
to take any and all steps necessary to eff--ct the provisions of the aforegoing
resolutions and to make such transfer of funds as may be neceesary from time
to time to give effect to the provisions hereof.
PASSED AND ADOPTED BY THE CITY COUNCIL OF TIM CITY OF FRIDLEY THIS 13TH
DAY OF DECEMBER 1971.
4YqOP"JaclO . 'irkham
F
1
CITY NANACER - Gerald R. Davis
ATTEST:
CITY CLINT - Marvin C, tFunsell
#159 -1971