RES 1969-129 - 00010135' RESOLUTION NO. 129 -1969 e
A RESOLUTION DIRECTING THE SALE AND PURCHASE OF TEELPORARY IMPROVEMENT
BONDS IN ACCORDANCE: WITH LAWS OF 1957, CHAPTER 385
BE IT RESOLVED By the City Council of the City of Fridley, Anoka Ccunty, Minnesota,
as follows:
THAT WHEREAS It has heretofore been determined by this Co %incil to ls.ue temporary
improvement bonds in order to provide the necessary funds for the construcrf.on
and payment of expenses relative to the following improvement projects to -wit:
Street Improvement Project No. ST. 1969 -1 & ST. 1959 -2
as per plans 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 $325,000.00 in the following fund, to-wit-
Bonds of 1960 Fund (Principal & Interest Account)
which sum will not be required for other purposes prior to July 1, 1972
IT IS THEREFORE Determined to be in the interest of the City of Fridley that the
sum of $325,000.00 of the Bonds of 1960 Fund (Principal & Interest Axcount)
BE INVESTED As authorized by law and in accordance therewith it is hereby determined
to purchase the sum of $325,000.00 of the aforementioned Street Improvement
Project No. ST. 1969 -1 & ST. 1969 -2 . issued
under date of July 1, 1969
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UPON Their initial issuance in accordance with the provisions of Minnesota Statutes,
Sec. 429.091, 471.56, and 475.66, out of funds Of the Bonds of 1960 Fund (Principal
& Interest 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 Principal & Interest
Account of the Bonds of 1960 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 Principal & Interest Account of the Bonds of 1960 Fund
in accordance With FrgyiAions of this regolution,
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SEC, 1. The City Manager and Treasurer are hereby authorized and directed -
to take any anJ all steps necessary to effect the provisions 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.
PASSCD AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 21ST
DAY OF JULY 1969.
iOR - Jack Kirkham
ATTEST:
ITY CLEItit - Marvin C. runsell
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SEC, 1. The City Manager and Treasurer are hereby authorized and directed -
to take any anJ all steps necessary to effect the provisions 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.
PASSCD AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 21ST
DAY OF JULY 1969.
iOR - Jack Kirkham
ATTEST:
ITY CLEItit - Marvin C. runsell
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