Res 1963-161 A R SOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVEMENT
BOND IN ACCORDANCE WITH LAWS OF 1957, CHAPTER 385.
PE 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 ih order to provide the necessary funds
for the construction and payment of expenses relative to the following
improvement projects to-wit:
Sanitary Sewer and Water improvemenlitsliacta,611mplarRlaps and
s.ecifications a.•roved b the Cit Council: and
WHEREAS it has been determined that there is at the present time an
amount in excess of 25,000.00 in the following fund, to-wit:
____ _ZegarSecial Assessment Fund
which sum will not be required
for other purposes prior to Oct
IT IS THEREFORE determined to be in the interest of the City of Fridley
that the sum of ItupooLassrlegularnpsial Assessment FundjSinking_
Account)
BE INVESTED as authorized by law and in accordance therewith it is
hereby determined to purchase the sum of $25,000.00 of the aforementioned
SanitarY Sewer and uWaterTERE2Y2ENA11:212.21AKIIISELILL----
temporaryipmalnder datessOctottra2,laka__
UPON their initial issuance in accordance with the provisions of
Minnesota Statutes, Sec. 429.001, 471.56 and 475.66, out of the funds
in Re: lar Ssecial Assessment Fund Sinkin: Account 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 SinkingAccount ofkeElgular pecial
Assessment Fund to invest in said temporary improvement bonds and to be
reasonable and advantageous to the City to sell said temporary improve-
ment bond to the Sinkin: Account of the 6.ecial Assessment Blind, in
accordance with the provisions of this resolution.
SEC. I. The City Manager and Treasurer are hereby authorized and directed
to take any and all steps necessary to effect the provision 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 21ST
DAY OF OCTOBER, 1963.
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ATTEST: CITY MWGN'
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CITY CT ' K - Marvin C. Brunsell
RESOLUTION NO. 162-1963
A RESOLUTION DIRECTING THE ISSUANCE OF TEVPORARY IMPROVEMENT BONDS
IN ACCORDANCE WITH LAWS OF 1957, CHAPTER 385
BE IT R7SOLVED By the Council of the City of Fridley, Anoka County,
Minnesota, as follows:
SEC. 1. The total estimated cost of Street Improvement Project
E2,_226T has been estimated in excess of $52,000.00.
SEC. 2. It is now estimated that the sum of $52,000.00 is currently
necessary to provide financing of the projects above noted, and it is
hereby determined to be necessary to borrow said amount for the payment
of obligations now incurred and for expenses necessarily incurred in conn-
ection with the construction of said improvement project.