Resolution 1486 - Laserfiche WebLink

Home Browse Search

_u___ ._~i i , ~ . ~ 'J- f " RESOLUTION NO. 1486 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON RESOLUTION AUTHORIZING ISSUANCE OF $39,255.00 CERTIFICATE OF INDEBTEDNESS, PRESCRIBING THE FORM AND DETAILS THEREOF, AND i LEVYING TAXES FOR THE PAYMENT THEREOF. I , , I BE IT RESOLVED by the City Council of the City of New Brighton, Minnesota as follows: 1. It is hereby found and determined that it is necessary and expedient for the city to issue a certificate of Indebtedness in the amount of $39,255.00 for the purpose of f inanc ing the purchase of equipment, in accordance with the provisions of Minnesota Statutes, Section 412.301; that the assessed valuation 1 of the city for the year 1975 is $59,060,594.00; that the amount ; of the Certificate to be issued is within 1% of the assessed valuation of the city and there are no other certificates of indebtedness outstanding issued pursuant to said, Section 4l2.30t except $49,286.84 balance of previously issued Certificates of Indebtedness which together with this certificate does not exceed limitations set out by Statute and that the sale of said certificate to the Sewer account of the Water and Sewer Fund of the City of New Brighton, Minnesota, on terms hereinafter set forth, is fair and reasonable and should be and is hereby ordered. 2. The city shall issue its general obligation Certificate of Indebtedness in the amount of $39,255.00 authorized by the Council pursuant to the provisions of Minnesota Statutes, Section 412.301, for the purpose of financing the purchase of fire, police and street equipment. Said certificate shall be dated on or about January 15, 1975, bear interest at the rate of 5% per annum pay- able on December 31, 1976 and December 31, 1977 in equal install- ments of $19,627.50 in each of the years 1976 and 1977, with the option of prior payment. Said certificate shall be payable to the sewer account of the water and sewer fund of the city of New Br igh ton. J. Said Certificate shall be in substantially the following form: i UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON CERTIFICATE OF INDEBTEDNESS KNOW ALL MEN BY THESE PRESENTS that the City of New Brighton, Ramsey County, Minnesota, hereby acknowledges itself to be indebted and for values received promises to pay to the Sewer Account of the city of New Brighton water and sewer fund, on order:,