RES 1970-108 - 00009763131
RESOLUTION NO. 108 -1970
RESOLUTION POSTPONING SALE OF $1,330,000 SPECIAL ASSESSMENT FUND BONDS
AND $460,000 WATERWORKS BONDS
WHEREAS, by resolutions duly adopted on April 20, 1970 this Council provided
for the issuance and public sale of $1,330,000 Special Assessment Fund Bonds and
$460,000 Waterworks Bonds on June 11 1970 at the regular Council Meeting on that
date, and
WHEREAS, at a special meeting of the Council held May 26, 1970, the members
then present determined upon advice of the financial consultants of the City
that due to very adverse market conditions it would be unwise to offer the bonds
for sale on June 1st and the financial consultants were directed to notify all
prospective bidders that the sale would be postponed until June 29, 1970 at 7:30
P.M., and
WHEREAS, the Council has met on June 1st and no bids have been received and
it is the desire of all members to ratify the Council action in postponing the sale
to June 29th,
NOW, THEREFORE, BE IT RESOLVED, By the Council of the City of Fridley,
Minnesota that the sale of $1,330,000 Special Assessment Fund Bonds of 1970 and
the sale of $460,000 Waterworks Bonds of 1970 shall be continued to June 29,
1970 at 7:30 o'clock P.M. and the City Manager is authorized and directed to
cause notice of such postponed sale to be published as required by law and the
board shall meet at the City Hall at such time to receive and consider bids and
to take such further action relating to sale and delivery of bonds as may be
required.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 1ST DAY
OF JUNE, 1970.
YOR - JACK 0. IR
ATTEST:
CITY CLERK = MARVIN C. ROE 9
i