RES 1973-130 - 00008216209
1-7
DAY OF SEPTEMBER 19735
ATTEST:
CITY CLER C ''C Bruns fT
ACTING CITY MANAGER Nasin Qures i
RESOLUTION NO. 130 1973
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORDANCE 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 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. 112 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 the excess of $95,000.00 in the following fund, to -wit: Investment Fund
which sum will not be required for other purposes prior to September 1, 1976.
IT IS THEREFORE Determined to be in the interest of the City of Fridley that
the sum of $95,000.00 of the aforementioned Sanitary Sewer, Water, and
Storm Sewer Improvement Project No. 112 issued under date of September 1,
1973.
UPON Their initial issuance in accordance with the provisions of the Minnesota
Statutes, Sec. 429.091, 471.56 and 475.66, out of funds of the Investment
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 to invest
in said temporary improvement bonds and to be reasonable and advantageous to the
City to sell said temporary improvement bonds to the Investment Fund in
accordance with provisions of this resolution.
SEC. 1. The City Manager and Treasurer are hereby authorized and directed
to tam 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 17TH
1-7
DAY OF SEPTEMBER 19735
ATTEST:
CITY CLER C ''C Bruns fT
ACTING CITY MANAGER Nasin Qures i