HomeMy WebLinkAboutFeb 18, 1936OFi'IOIALPROC~EDIi[GS
Adjo-,zrned~, meeting called to ord'.er February !Sth at tile C~it~,- Offices at 8 P.M.
Ail members present.
Meeting called for the ~urpose of acting on the refinsa~cing question.
~ize following ?resz.fole was offerod by Severson, vgzo move~l its aloption:
~zereas, this City is now ~zs)ole to '~ay its o~ztstazz~ng indebteL~ess as it now
mat~es accor:Sing to its terms, smd
Wi~ereas, this ,~o-m~czl hereby f~nas an~ declares zr_a~ ~. emergency exists s~d it
is z~ecessary to ta2:e '?rom:~t actioz~ to adjmst zke ex~sting indebte~-zess for the
inzaediate vreser~ation of the ~zfotic peace a~d s~:fety by ~r.~e~tm~6 ~neccessary
litigstio'~, oro~ec~_ng ti:e credit of the City a:~a enaoling the Cit2~ to car~7
its normal governmental activities,
Thais Co~ci! ke.reby d~c!ares that ti~e resolution herein~ter set forth for
f-m'~di:~g bo:ads is ~:........ % ~ resolution sr~d sz~a!l
. ~mera~-c~. ~" ,,~=~e effect imzuediately ~or.
its passage.
Basset~ sec~;:deo, the motion to adopt sail-ore~ble, a.~:~d uoon roll call the same
was adopted by the following vote:
~zes~: Basset't, Miller, Sewrson, WohtforC, Te?~ t~e~s: ~one.
Passed~ Feb. l~tk, 1936.
Tile following resolution was offered by Severso~, wlm moved its aS_option:
A Resolutior~ pertai~aing to the issuance of 51SC,000 Ref-~ding Bonds'.
The motion being d~aly seconded by Ba:' sett, 1#as ~:'?~t to a vote and orevailed
All yeas: The vote as taken o:~ roll call being Ayes: Bassett, Miller, Severson, ~
Wo~.!~ ors., Tema. Nays; ~o~e.
~otion by Miller, that Harold W. Moody be authorized to aid. the City in refinan-
cing plan. Seconded by Woklford. Roll call - Ayes: Bassets, Miller, seversoz,
Joz~lfora, Tema. Esj~s:
Severson i_~troduced the followinG reso!utioz~ a~%d moved its adoption:
A Resolution pert&ining to the retirement of certain bonds.
'F~ereas tills City has cash on in.nd in various f%~:~ds w_:ich a,~e si~:ing f~mds main-
tained for the pa>mzent of indebtedness, ~f: %~fLereas 'the Stave of Minnesota, iml~s
$20,000 5% Certificates of Indebtedness d~ted Jul~ l, 192~, ~[os. 108 to ll7 and
128 to 1gl, s~d $9,000 ref-w~ding 6~ bonds ~av<:.~ J~:~tz 1, lLt, s. 7 to z~.
Row Therefore be it Resolved by the Co~m~cil of t!~e City of 0ol~m~oia Heights, 'Minn.
that the City Treas-~-er be m~d hereby is a-zthorized sm& directed to reeuest the
State to '.~ermit tls City to p~ such bo:~ds from its si~cing f~3, said fzmds to
re,est to pay siid ~onds as to -orincioal au& i~terest ~n full~.~~ ) '
Seconded by ~g~hlford. Roll call - ~'es: Basse~v, Miller, Seversoi~,~(WSklford, Tema.
3~ays: None.
Passe~ ~eb. 1'~, 1936.
Motion to adjo~mrn by Sever~on, seconded by Bassett.
Se~ret~.ry 'iQ~ the 0ouncil
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