Res 1963-174 156
RESOLUTION NOt_173-1963
A RESOLUTION 07D7RING CPNDTYJNATI ON ON PROJECTS #S - 2 & #MSAS02 - 312 - 020
WHEREAS, by previous resolutions of the Council of the City of Fridley
it was determined to construct and extend the utility and street system as
provided in Project S-2 - 1SAS02 - 312 - 020 of the City of Fridley and to
acquire easements for said street and utility purposes, and
'I-FREAS, the City Engineer determined that the projects were feasible,
and,
' HEREAS, public hearings were held on the matter at the City Hall, and,
7F7R7AS, following said public hearings of the City Council did re-
solve that the projects were feasible and necessary and did approve plans
and specifications and let bids for the construction and installation of
said street and utility improvements, and
WHEREAS, as a part of said imprpvements certain easements are
necessary for construction and cannot be acquired by negotiation. The
easement required is described as follows:
Sewer:
The North 20 feet of the South 26 feet of Lots 4 and 13, Block 3, Adams
Street Addition, Anoka County, Minnesota.
STREET AND UTILITIES:
All of Lot 17, together with the East 9 feet of Lot 16, clock 4, City View
Addition, Anoka County, Minnesota.
All of Lot 17, together with the East 9 feet of Lot 16, Block 5, City View
Addition, Anoka County, Minnesota.
NOW, THERE7ORE, BE IT RESOLVED, by the City council of the City of
Fridley as follows:
1. It is necessary for the purpose of street and utility improvement
that the above stated easement be taken.
2. Said easement is to be used as a street and utility easement for
the improvement as shown on the plans and s.necifications of Pro-
jects #S-2 and MSAS02-312-020 of the City of Fridley.
3. 'he attorneys for the City are authorized and directed to acquire
such easements by condemnation action in Anoka County j)istrict
Court.
PASSED AND ADOPTED THIS 4TH DAY OF NOVEMBER, 1963, BY THE CITY COUNCIL
OF THE CITY OF FR7DLEY.
LUAttA041,
MAYOR - J. ee
ATTEST:
A A go ANA. C
CITY Cl",-K 14arvin C. Brunsell
RESOLUTION NO. 17A=126.2__
A RESOLUTION DIRECTING TUE ISSUANCE 07 TEMPORARY IMPROVEMENT BONDS IN
ACCORDANCE WITH LAWS OF 1957, CHAPTER 385
17 IT RESOLVED by the Council of the City of Fridley, Anoka County,
Minnesota, as follows:
S7C. 1. The total estimated cost of Storm Sewer Improvement Project No. 64
has been estimated at $8,000.00.
SEC. 2. It is now estimated that the sum of $8,000.00 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
157
incurred and for expensed necessarily incurred in connection with the
construction of said improvement project.
SEC. There is hereby created Storm Sewer Improvement No. 64 Fund (temporary)
which shall contain a construction account as part thereof into which shall
be paid all proceeds of temporary bonds issued pursuant to this resolution
and similar subsequent resolutions, and out of which shall be paid all amounts
due and payable as costs or expenses incident to or incurred in connection
with the making of said improvement.
SEC. / . There is also hereb created Storm Sewer Improvement Project No. 64
Fund temporary) a Sinking and Account, which account in said Fund may
and shall be termed as the Sinking 141und, into which shall be paid the pro-
ceeds of all special assessments levied against benefited property by reason
of the making of said improvements as well as all other monies therein to
be paid as provided by law and out of which shall be paid the principal and
interest on all temporary improvement bonds issued to finance said project.
SEC. It is hereby determined that the sum of $8,000.00 shall be borrowed
to finance said Storm Sewer Improvement Project No. 64 with respect to cost
of construction and expenses necessarity incurred relative thereto to this
date, by the issuance of temporary improvement bonds of the City of Fridley
as authorized in Minnesota Statutes, Sec. 429.01 , Subdivision 3, as amended
by laws 1957, Chapter 385.
* Ic*
SEC. 6. Said bonds shall be payable from the 6 In ing Fund of the following:
Storm Sewee Improvement Project No. 64 Fund but the City further recognize
its duty under the law, as provided by Sec. 429.091, and covenants and
agrees with the pure-ltser and all holders from time to time, of said temp-
orary improvement bonds, at or prior to the maturity thereof that 'it will
pay and retire such bonds and the interest thereon out of the proceeds of
definitive improvement bonds which the council shall issue and sell at or
prior to the maturity of the temporary improvement bonds to the, extent that
the same cannot be paid out of funds available in the Sinking Fund of
Storm Sewer Improvement Project No. 64 Fund, or out of other municipal funds
which are properly available and are appropriated by the council for such
. 111 purpose.
SEC. 7. It is hereby determined to levy special assessments against bene-
fited property by reason ofthe making of Storm Sewer Improvement Project
No. 64 and to levy ad valorem taxes, if necessary, to produce sums at least
5% in excess of the amounts sufficient to pay principal and interest when
due or said temporary improvement bonds and on any definitive bonds to be
issued as herein provided, such special assessments to be placed on the
tax rolls at such time when said improvement projects have been completed
or the total cost thereof has been determined:
SEC. 8. Said temporary improvement bonds in the amount of $8,000.00 shall
be denominated Storm ewer Improvement Project No. 64 Bond Series "A"
(temporary) shall be eight (8) in number and numbered from one to eight
inclusibe, each in the denomination of $1,000.00 shall bear interest at
the rate of 5% per annum, payable semi-annually on May 1st and Noirember let
of each year and shall mature on November 1st, 1965, shall be subject to
redemption and pre-payment on any interest payment date, at par and accrued
interest. Not less than 30 days before the date specified for redemption
of said bonds, the City Treasurer shall mail notice of the call thereof
to the holder, if know, said Treasurer shall maintain'a record of the names
and addresses of the holders of said bonds insofar as such information is
made available to him br the holders thereof, for the purpose of mailing
said notices. The principal and all interest on said bonds shall bevpay-
able at Fridley City Hall, 6431 University Avenue N.E., Minneapolis 21,
Minnesota.
SEC. 9".. Said temporary improvement bonds shall be mimeographed and when so
mimeographed shall have attached thereto an interest coupon which Bond and
Coupon shall be substantially in the following form:
( Form of Uoupon )
NO.
-----Trgless the bond described below is called for earlier redemption)
on the day of ' 1 19 1 the of
County, Minnesota, will pay to bearer.at
Minnesota, the sum of dollars lawful money of the United States
of America for interest then due on its
DATED
CITY MANAGER MAYOR
158
SEC. 10. Said bonds and coupons attached shall be prepared under the dir-
ection of the City Manager and shall be executed on behalf of the City by
the signatures of the Mayor and Manager, and the corporate seal of the
City shall be affixed thereto, and the appurtenant interest coupon shall be
mimeographed and authenticated, by the printed, engraved, lithographed, or
facsimile signatures of said Mayor and Manager. When said bonds have been
executed and authenticated they shall be delivered by the Treasurer to the
purchaser threof, upon payment of the purchase price heretofore agreed upon
and accrued interest to date of delivery and said purchaser shall not be
obliged to see to the application thereof.
SEC. 11.The City Manager is hereby authorized and directed to file a cei-
tified copy of this resolution with County Auditor of Anoka County, to-
gether with such other information as he shall require and to obtain from
said County Auditor a certificate that said bonds have been entered on
this bond register.
SEC. 12. The Bonds issued hereunder shall be payable from Storm Sewer
Improvement Project No. 64 Fund which is hereby created. The Treasurer
shall cause all monies received from the proceeds of said bonds, all
monies appropriated and transferred from other fund and all special assess-
ments for the improvements provided that if any payment of principal or
interest shall become due when there is not sufficient money in said
fund to pay the same, the Treasurer shall pay such principal or interest
from the general fund of the City and such fund shall be reimbursed for
s-7ch advances out of monies to be credited to said fund when said monies
are collected. All proceeds for said bonds except accrued interest shall
be credited to the fund and used to pay the cost of said improvement.
SEC. 13. It is further provided that should it appear at any time that the
monies credited to said fund and provided for the payment of principal or
interest on the bonds when the suns become due are not sufficient to pay
the same, that then the City shall issue further definitive improvement
bonds as authorized and provided in accordance with Minnesota's statutes,
Sec. 429.091, Chapter 475, and that the process of said further definitive
bonds shall be first used to pay the principal and interest as is then due
and to redeem the temporary bonds issued thereunder.
SEC. 14. The City Council has determined that not less than eighty per cent
(805) of the total cost of said improvements will be paid by special
assessments to he levied against every lot, piece or parcel of land bene-
fited by the said improvements. The City hereby covenants and agrees that
it will do and perform as soon as they can be done, all acts and things
necessary for the final and valid levy of such special assessments, and
in the event that any such assessments be at any time held' invalid with
respect to any lot, piece or parcel of land, due to any error, defect or
irregularity, or in any action or proceeding taken or to be taken by the
Council or any of the City Officers or employees, either in the making of
such assessment or in the performance of any condition precedent thereto,
theCity and this Council will forthwith do all such further proceedings
as may be required by law to make such assessments valid and binding liens ,
against such property, and also shall take such further proceedings as may
be required by law to provide monies for the payment of principal and int-
erest as the same fall due on the bonds issued hereunder and to provide
for the redemption of the same.
SFSI.12. It is hereby determined that the collection of special assessments
and the proceeds of monies appropriated and transferred from other funds
is and will be in an amount of at least five per cent (5%) in excess of
the amount required to pay the princinal of and the interest. on said bonds
when due and that no ad valorem tax levy is accrodingly required.
SEC. 16. The officers of the City and the County luditor of Anoka County
are hereby authorized and directed to prepare and furnish to the parchasee
of said bonds and to the attorneys approving the legality of the issuance
thereof, cra-tified copies of all proceedings and records relating to said
bonds and to the financial affairs of said City, and such other affidavits,
certificates and information as may be rquired, to show the facts relating
to the legality and Trarketability of said bonds as the same appear from
the books and records under their custody and control or as otherwise known
to them, and such certificates, certified copies and affidavits, including
any heretofore furnished, shall be deemed representations of the City as
to the correctness of all statements. contained therein.
PASSE ? BY THE CITY COUNCIL THIS 4TH DAY OF NOVEMBER, 1963.
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mA7-011 4 4
CITY Ci73,
CITY MANAGER AMMIltr 662