RES 1966-108 - 000111241
RESOLUTION NO. 108 - 1966
A RESOLUTION REGARDING THE USE OF MUNICIPAL
BUILDINGS AND PROPERTY
BE IT RESOLVED, by the Council of the City of Fridley, Anoka County,
Minnesota as follows:
that the use of the Fridley City Hall and the Locke Park Shelter
shall be by reservation.
that those organizations desiring to use the City Hall an a regular
or frequent basis shall make such fact known to the Council. Following
Council approval, those organizations may make specific reservations through
the City administration. Groups that have not obtained prior approval shall
address their request to the Council at least one month prior to the date of
use.
that the use of any City equipment by anyone other than an employee
of the City in discharge of his official duties or a person specifically
authorized to use such property for City purposes is prohibited.
that the City administration is directed to make available to private
persons or groups copies of all public documents. The administration shall
charge an amount sufficient to compensate the City for the cost of all such
reproduction over 50¢.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 1ST
DAY OF AUGUST, 1966.
ATTEST:
C
CITY CLERK%- Marvin C. Brunsell
MAYOR -Jack 0. (irkham
139
140
RESOLUTION NO. 109 - 1966
A RESOLUTION DIRECTING THE ISSUANCE OF TEMPORARY IMPROVEMENT BONDS IN
ACCORDANCE WITH LAWS OF 1957, CHAPTER 385
BE IT RESOLVED, by the Council of the City of Fridley, Anoka
County, Minnesota, as follows:
Section 1 The total estimated cost of Street Improvement Project 1966 -1
has been estimated in excess of $225,000.00.
Section 2 It is now estimated that the sum of $220,000.00 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 connection with the constr-
uction of said improvement projects.
Section 3 There is hereby created Street Improvement #1966*1 Fund
(temporary) which shall contain a construction account as
a part thereof into which shall be paid all proceeds of temp-
orary 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.
Section 4 There is also hereby created in Street Improvement #1966 -1
Fund (temporary) a Sinking Fund Acc*unt, which account in said
fund may and shall be termed as the Sinking Fund, into which
fund shall be paid the proceeds 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.
Section 5. It is hereby determined that the sum of $220,000.00 shall be
borrowed to finance said Street Improvement Project #1966 -1
with respect to costs of construction and expenses necessarily
incurred relative thereto to this date, by the issuance of
temporary improvement bonds of the City of Fridley as author-
ized in Minnesota Statutes, Sec. 129.091, Subdivision 3.
Section 6 Said bonds shall be payable from the Sinking Fund of the
following:
Street Improvement Project #1966 -1 Fund
but the City further recognizes its duty under the law, as
provided by Sec. 429.091, and covenants and agrees with the
purchaser 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 there-
on 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
Rund of Street Improvement #1966 -1 Fund or out of other muni-
cipal'funds which are properly available and are arpropriated
by the Council for such purpose.
Section 7 It is hereby determined to levy special assessments against
benefited property by reason of the making of Street Improve-
ment Project #1966 -1 and to levy ad valorem taxes. if necess-
ary, to produce sums at least 5% in excess of the amounts
sufficient to pay principal and interest when due on said
temporary improvement bonds and on any definite 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 deter-
mined.
L -�
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141
RESOLUTION NO. 109 - 1966 Continued
Section 8 Said temporary improvement bonds in the amount of $220,000.00
shall be denominated Street improvement Project #1966 -1 Bond
Series "A" (temporary) shall be twenty -two (22) in number and
numbered from 1 to 22 inclusive, each in the denomination of
$10,000.00, shall bear interest at the rate of 5% per annum,
payable semi- annually on January 15th and July 15th of each
year and shall mature on July 15, 1969, 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 known, 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 bY the holders thereof, for the purpose of mailing
said notices. The principal and all interest on said bonds shall
be payable at Fridley City Hall, 6231 University Avenue N.E.
Minneapolis 21, Minnesota.
Section 9 Said temporary improvement bonds shall have attached thereto an
interest coupon which Bond and Coupon shall be substantially in
the following form:
(Form of Coupon)
Noe $
(unless the bond described below is called for earlier redemption)
On the day of , 19 , the of ,
Minnesota, the sum of
DOLLARS lawful money of the United States of America for Interest then due on
its
Dated
Manager Mayor
Section 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 br mimeographed and authenticated, by the
printed, engraved, lithographed, or facsimile signatures of said
Mayor and Manager. When said bonds have been executed and authen-
ticated they shall be delivered by the Treasurer to the purchaser
thereof, 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.
Section 11 The City Manager is hereby authorized and directed to file a
certified copy of this resolution with the County Auditor of
Anoka County, together with such other information as he shall
require and to obtain from said County Auditor a certificate that
said bonds have been entered on his bond register.
is
"1
Section 12 The bonds issued hereunder shall be payable from Street Improvement
#1966 -1 Fund which is hereby created. The Treasurer shall cause all
monies received from the process of said bonds, all monies appro-
priated and transferred from other funds and all special assessments
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 inter-
est from the general fund of the City and such fund shall be reim-
bursed for such 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 improvements.
Section 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
a
142
RESOLUTION NO. 109 - 1966 Continued
Section 13 Continued
p principal or interest on the bonds when the sums become due are not
sufficient to pay the same, that then the City shall issue further
definitive improvement bonds as authorized and provided in accord -
ance with Minnesota Statutes, Sec. 429.091, Chapter 475, and that
the proceeds 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 hereunder.
Section 14 The City Council has determined that not less than eighty per cent
(80 %) of the total cost of said improvements will be paid by
special assessments to be levied against every lot, piece or
parcel of land benefited 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 irr-
egularity, or in any action or proceeding 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, the City and this Council will forthwith do all such
further proceedings as may be required by law to make such assess-
ments 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 interest as the same fall
due on the bonds issued hereunder and to provide for the redemption
of the same.
Section 15 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 amount of at least five per cent (5 %) in
excess of the amount required to pay the principal of and the
interest on said bonds when due and that no ad valorem tax levy
is accordingly required.
Section 16 The officers of the City and the County Auditor of Anoka County
are hereby authorized and directed to prepare and furnish to
the purchaser of said bonds and to the attorneys approving the
legality of the issuance thereof, certified copies of all proceed-
ings and records relating to said bonds and to the financial affairs
of said City, and such other affidavits, certificates and inform-
ation as may be required, to show the facts relating to the legal -
ity and marketability 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 thecorrectness of all statements contained therein.
PASSED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 1ST DAY OF AUGUST, 1966.
MAYOR c Jack 0. Kirkham
ATTESTz
CITY CLE Marvin C. Brunsell