HomeMy WebLinkAboutResolution 2584
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RESOLUTION NO.
25~
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 18, 1989 with the following
members present: Mayor Hankner, Councilmembers Wuori, Quick,
Blanchard, Paone
and the following members absent: None
Member Blanchard lntroduced the following resolution and moved
its adoption:
RESOLUTION AUTHORIZING ISSUANCE OF EQUIPMENT DEBT
CERTIFICATE, PRESCRIBING THE FORM AND DETAILS THEREOF,
AND LEVYING TAXES FOR THE PAYMENT THEREOF.
BE IT RESOLVED by the City Council of the City of Mounds
Mlnnesota as follows:
1. It is hereby found and determined that it is
necessary and expedient for the City to issue an
Equlpment 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 Equip-
ment Debt Certificate in the amount of $100,955.00
authorized by the Council pursuant to the provisions
of Minnesota Statutes, 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, 1990 and
shall be payable to the Utility Fund at the City
of Mounds View.
3. Said Certificate shall be as follows:
UNITED STATED OF AMERICA
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF MOUNDS VIEW
EQUIPMENT DEBT CERTIfICATE
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Page Two
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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 1990. 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, 1989 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 indebted-
ness 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, 1989.
The motion for adoption of the above resolution was duly
seconded by Member Paone and upon a vote being taken, 5 Ayes
o Nays, said resolution was declared duly passed and adopted
this 18th day of December, 1989.
ATTEST:
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(SEAL)