RES 1980-26 - 0000645336
RESOLUTION NO. 26 - 1980
SUPPORTING HOUSE FILE 2214 AND SENATE FILE 2227 RELATING TO
LIFTING THE SEVEN PERCENT LIMIT ON MUNICIPAL BONDS
WHEREAS the City of Fridley must sell general obligation and revenue bonds
from time to time to carry out the normal City improvement projects for
water, sewer, street, etc., as well as for other purposes; and
WHEREAS it is impossible under present market conditions to sell municipal
bonds which yield seven percent; and
WHEREAS this has the effect of creating a severe hardship on many munici-
palities, including the City of Fridley;
NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Fridley hereby
goes on record as favoring House File 2214 and Senate File 2227 which have
the effect of raising the interest limit on municipal general obligation and
revenue bonds.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 10TH DAY
OF MARCH, 1980.
WILLIAM J. NEE YOR
ATTEST:
��'�CLER VIN C. BRUNSELL
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