2000.11.06 RESO 2000-0044 - Laserfiche WebLink

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF HUGO, MINNESOTA HELD: November 6, 2000 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Hugo, Washington County, Minnesota, was duly held at the City Hall in said City on Monday, the 6th day of November, 2000, at 7:00 P.M., for the purpose, in part, of considering proposals for, and awarding the sale of, $1,015,000 General Obligation Temporary Improvement Bonds, Series 2000B of the City. The following members were present: Mayor Walter Stolztman; Council Members, Debra Barnes, Chuck Haas, James Leroux, Becky Petryk and the following were absent: None Mayor Stoltzman introduced the following resolution and moved its adoption: RESOLUTION 2000-44 RESOLUTION ACCEPTING PROPOSAL ON SALE OF $1,015,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, SERIES 2000% PROVIDING FORIBEIR ISSUANCE, AND PLEDGING FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS A. WHEREAS, the City Council of the City of Hugo, Minnesota (the "City"), by resolution duly adopted on May 4, 1998 .(the "Prior Resolutign") has heretofore issued :.$985,000 General Obligation Temporary Improvement Bonds,Series 1998B (the "1998B . Bonds"); and B. WHEREAS, Minnesota Statutes,. Section 429.091, Subdivision 5, permits . the issuance of additional temporary bonds to the extent the 1998B Bonds.caunot be paid when due from receipts of special. assessments, taxes or. other fiords appropriated for that purpose; and C. ' WHEREAS, the City Councit hereby determines -that it is necessary and expedient. to provide additional temporary financing pursuant to Minnesota Statutes,'Chapters :. 429 and 475, particularly Section 429.091, Subdivision 5 by the issuance of its $1,015,000 General Obligation Temporary Improvement Bonds, Series 2000B (the "Bonds" or, individually, 1222136.1