RES 1979-96 - 00006801167
RESOLUTION NO. 96 -1979
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF
TEMPORARY IMPROVEMENT BONDS IN ACCORDANCE WITH
LAWS OF 1957, CHAPTER 385.
WATER & SEWER IMPROVEMENT PROJECT NO. 126
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
1 improvement bonds in order to provide the necessary funds for the construction
and payment of expenses relative to the Water & Sewer improvement Project No.
126,
WHEREAS it has been determined that there is at the present time an amount
in excess of $20,000.00 in the following fund, to -wit: Investment Fund, which
sum will not be required for other purposes prior to August 1, 1979.
IT IS THEREFORE DETERMINED to be in the interest of the City of Fridley that the
sum of $20,000.00 of the Investment Fund be invested as authorized by law,
and in accordance therewith, it is hereby determined to purchase the sum of
$20,000.00 of the aforementioned Water & Sewer Improvement Project No. 126
accordance with the provisions of Minnesota Statutes, Sections 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 further determined to be reasonable and
advantageous to the Investment Fund to invest in said temporary improvement bonds
and to be reasonable and advantageous to the City to sell said temporary
improvement bonds in accordance with provisions of this resolution.
SECTION 1. The City Clerk 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, MINNESOTA
THIS 6TH DAY OF AUGUST.
ATTEST:
MARVIN C. RUNSELL, CITY CLERK
WILLIAM J. NEE, MAYOR