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<br /> + , <br /> ~ .- <br /> , ~ RESOLUTIONS NOS 1497 and 1498 <br /> STATE OF MINNESOTA <br /> COUNTY OF RAMSEY <br /> CITY OF NEW BRIGHTON <br /> Extract of Minutes of Meeting of the <br /> City Council of the City of New Brighton, <br /> Ramsey County, Minnesota <br /> Pursuant to due call and notice thereof, a regular <br /> meeting of the City Council of the City of New Brighton, Minnesota, <br /> was duly held at the City Hall in said City, on Tuesday, January 28, <br /> 1975, at 8:00 o'clock P.M. <br /> The following members were present: <br /> Bromander, Anderson, Eagon, Fisher, Rebetein <br /> and the following were absent: <br /> None <br /> * * * * * * * * * <br /> Councilman Eagon introduced the following <br /> resolution and moved its adoption: <br /> RESOLUTION TO ISSUE AND SELL <br /> $1,220,000 TEMPORARY WATER <br /> IMPROVEMENT BONDS OF 1975 <br /> AND <br /> $1,035,000 TEMPORARY <br /> IMPROVEMENT BONDS OF 1975 <br /> BE IT RESOLVED by the City Council of the City of New <br /> Brighton, Minnesota, as follows: <br /> 1. The City Council deems it necessary and expedient to <br /> issue and sell $1,220,000 general obligation negotiable coupon <br /> Temporary Improvement Bonds of 1975 pursuant to Section 429.091, <br /> Subdivision 3, Minnesota Statutes, to finance costs incurred and <br /> to be incurred in connection with Improvement No. 75-2, consisting <br /> of an elevated water storage tank, distribution water mains and <br /> appurtenances thereto. The City Council hereby finds and determines <br /> that the estimated cost of the Improvement is $1,200,000, that such <br /> Improvement has been duly authorized and contracted for, that <br /> special assessments will be levied in amounts more than 20% of the <br /> cost of the Improvement and that the Council is authorized to issue <br /> and sell improvement bonds in an amount not exceeding the estimated <br /> cost of the Improvement plus 2% on the estimated cost as additional <br /> interest pursuant to the provisions of Section 475.56, Minnesota <br /> Statutes. The Temporary Water Improvement Bonds of 1975 shall be <br /> dated April 1, 1975, shall bear interest payable October 1, 1975 <br /> and semiannually thereafter on April 1 and October 1 and shall <br /> mature on April 1, 1978, subject to redemption at the option of <br /> the' City on October 1, 1977 at par plus accrued interest. <br /> ~ <br />