HomeMy WebLinkAboutResolution 4149
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RESOLUTION NO. 4149
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
Pursuant to due call and notice thereof, a meeting of the
City Council of the City of Mounds View, Minnesota was held at
the City Hall on December 9, 1991 with the following members
present: Blanchard, Rickaby, Wuori, Quick, Linke
and the following members absent: None
Member Quick introduced the following resolution and moved its
adoption:
A RESOLUTION AUTHORIZING ISSUANCE OF AN EQUIPMENT DEBT
CERTIFICATE, PRESCRIBING THE FORM AND DETAILS THEREOF,
AND LEVING TAXES FOR THE PAYMENT THEREOF
BE IT RESOLVED by the City Council of the City of Mounds
View, Minnesota as follows:
1.
It is hereby found and determined that it is necessary
and expedient for the City to issue an Equipment Debt
certificate for the purpose of financing the purchase
of police and street maintenance equipment, in
accordance with the provisions of Minnesota statutes,
Section 412.301; and that the sale of said certificate
to the utility Fund, on terms hereinafter set forth, is
hereby ordered.
2. The City shall issue it's general obligation Equipment
Debt certificate in the amount of $100,955.00
authorized by the Council pursuant to the provisions of
Minnesota Statues, section 412.301 for the purpose of
financing the purchase of police and street maintenance
equipment. Said certificate shall be dated on or about
January 3, 1992 and shall be payable to the Utility
Fund at the City of Mounds View.
3. Said Certificate shall be as follows:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF MOUNDS VIEW
EQUIPMENT DEBT CERTIFICATE
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RESOLUTION NO. 4149
Page Two
KNOW ALL MEN BY THESE PRESENTS that the City of Mounds View,
Ramsey County, Minnesota, hereby acknowledges itself to be
indebted and for values received promises to pay to the Utility
Fund of the City of Mounds View on order, the sum of $100,955.00
plus interest at 8%'per annum in one installment in 1992.
principal and interest on this certificate is payable at the
office of the City of Mounds View, Minnesota and for the prompt
payment of said principal, the full faith, credit and taxing
power of the said City have been and are hereby irrovocably
pledged.
This certificate is issued for the purpose of purchasing
police and street maintenance equipment for the City and is
authorized by a duly adopted resolution of the City Council of
said City, dated January 3, 1992 and is issued pursuant to and in
full conformity with Minnesota Statutes, section 412.301.
IT IS HEREBY CERTIFIED AND RECITED, that all acts,
conditions and things required by law to be done, to exist, to
happen and to be performed, precedent to and in the issuance of
this Certificate have been done, do exist, have happened and have
been performed in regular and due form, time and manner; that a
direct, annual, irrepealable ad valorem tax has been duly levied
by said City in an amount sufficient to pay the principal on this
certificate when it falls due, and that this certificate,
together with all other existing indebtedness of the said city,
does not exceed any constitutional or statutory limitation on
indebtedness.
IN WITNESS WHEREOF, said City has caused this certificate to
be executed in its behalf by its Mayor and Administrator and the
Official Seal of the city to be affixed hereto as of January 3,
1992.
The motion for adoption of the above resolution was duly
seconded by Member Blanchard and upon a vote being taken, 5 Ayes
o Nayes, said resolution was declared duly passed and adopted
this 9th day of December, 1991.
ATTEST:
(SEAL)
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