RES 1967-199 - 00010923f
I�
i
E308
Y
RESOLUTION NO. 199 1967
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEMPORARY IMPROVEMENT
BONDS IN ACCORDANCE WITH LAWS OF 1957, CiIAPTER 385
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
improvement bonds in order to provide the necessary funds for the construction
and payment of expenses relative to the following improvement projects to -wit:
Storm Sewer Improvement Project No_ SS - 82
as per_p:Lans and specifications approved by the City Council: and
WHEREAS It has been determined that there is at the present time an amount in
excess of $60,000,00 in the following fund, to -wit:
Regular Special Assessment Fund (Sinking Account)
which sum will not be required for other purposes prior to December 1, 1970
IT IS THEREFORE Determined to be in the interest of the City of Fridley that the
sum of $60,000,00 of the Regular Special Assessment Fund (Sinking Account)
BE INVESTED As authorized by law and in accordance therewith it is hereby determined
to purchase the sum of $60,000,00
Project No, SS - 82
er date of December 1, 1967
of the aforementioned Storm Sewer Improvement
temporary issued
UPON Their initial issuance in accordance with the provisions of Minnesota Statutes,
Sec. 429.091, 471.56, and 475.66, out of funds the Regular Special Assessment Fend
(Sinking 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 the Sinking Account of the
Regular Special Assessment Fund
to invest in said temporary improvement bonds
and to be reasonalbe and advantageous to the City to sell said temporary improvement
bonds to the Sinking Account of the ReQU1ar Special Assessment Fund
in accordance with provisions of this resolution,
1 -30
Resolution No. 199 -1967 Continued
SEC. 1.
to take
The City Manag:r
any and all steps
and Treasurer are hereby authorized and directed
necessary to effect the of the aforegoing
provisions
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 4th
DAY OF
December
, 1967.
YOR -Jack 0. Kirkham
'.
CITY MANAGER - Earl. P. Wagner
ATTEST:
CITY CLERK-- Marvin C. Brunsell