HomeMy WebLinkAboutResolution 62-42RESOLUTION REQUESTING CERTIFICATION OF MUNICIPAL
STATE-AID MONEYS FOR THE PAY~fENT OF MUNICIPAL
STATE-AID STREET BOND PRINCIPAL.AND INTEREST
WHEREAS, the City of Columbia Heights', Minnesota, has issued
bonds in the amount of $120,000, exclusively for the purpose of
establishing, locating, relocating, constructing, reconstructing,
or improving its municipal state-aid streets, in accordance with
Minnesota Statutes 1961, Section 162.18, and
WHEREAS, the City of Columbia Heights has ir:cevocably pledged
to the sinking fund, from which such obligations are payable, the
amount of its future municipal state-aid street allotments as is
permissible by law and needed to pay principal and interest thereon;
which principal payments shall be made from the Construction Account
of such Municipal State-Aid Street Fund and which interest payments
shall be made from the regular municipal state-aid maintenance al-
lotment, all as detailed herein:
Year Needed
Principal Due From
Municipal State-Aid
Construction Fund
Interest Due From
Municipal State-Aid
Maintenance Fund
1963 $ 12,000. $ 6,078
1964 12,000 2,676
1965 12,000 2,388
1966 12,000 2,094
1967 12,000 1,794
1968 12,000 1,494
1969 12,000 1,182
1970 12,000 858
1971 12,000 522
1972 12,000 174
NOW THEREFORE, BE IT RESOLVED by the City Council of the City
of Columbia Heights, Minnesota, that the Commissioner of Highways
of the State of Minnesota be and he hereby is requested to keep a
bond record in his office, on the aforementioned Municipal State-Aid
Street Bonds of 1963 of the City of Columbia Heights.
BE IT FURTHER RESOLVED that the Commissioner of Highways shall
and he is hereby requested, upon receipt of this resolution, to annually
certify to the State Auditor the amount of, money required for the
principal and interest on said bonds, subject to the limitations im-
posed by law.
Passed:
ATTEST:
Offered by: Orendorff
Seconded by: Nawrock± ~C/~o~n~l~~~~~
Approved: .....
December __~_ ~6 1~62o
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