RES 1971-161 - 00009609- -A ,
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RESOLUTION NO. 161 - 1971
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORD:INCE WITH LAWS OF 1957, CHAPTER 385
(SW & SS PROJECT #105)
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:
Sanitary Sewer, Water and Storm Sewer Improvement Project No. 105
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 $100,000.00 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 $100,000.00 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 $100,000.00 of the aforementioned Sanitary Sewer,
Water and Storm Sewer Improvement Project No. 105 issued
under date of December 1, 1971
4 '
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 prpylpions of this resolution.
302
_..sl✓(
CITY CLETM - Marvin C. Brunse 1
#161 -1971
SEC, 1.
The City Manager
and Treasurer are hereby authorized and directed
'
to tare
any and all steps
necessary to effect the provisions of the --foregoing
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 TRIS 13TH
DAY OF
DECEMBER
1971.
J-TY40a
- Jack (r Kirkham -
CITY MOTACER - Gerald R, Davis
ATTEST:
_..sl✓(
CITY CLETM - Marvin C. Brunse 1
#161 -1971