HomeMy WebLinkAboutOrdinance 1107 ORDINANCE NO. { 107
BEING AN ORDINANCE AUTHORIZING THE ISSUANCE OF
$2,460,000 GENERAL OBLIGATION REFUNDING BONDS OF 1985
SERIES B
The City of Columbia Heights does ordain:
1. 'file City of Columbia Heights (the "City") is a home rule charter city
and a political subdivision of the State of Minnesota.
2. Pursuant to Ordinance No. 1082 and Resolution No. 84-41 the City
issued iis General Obligation Permanent Improvement Fund Bonds, Series 1984 dated
June 1, 1984 in the aggregate principal amount of $2,600,000 (the "Prior Issue") which
bonds are subject to redemption on March 1, 1988, at a price equal, to par plus accrued
interest.
3. It is hereby found and determined lhat it is in the best interests of the
City to issue its General Obligation Refunding Bonds of 1985, Series B in an aggregate
principal amount not to exceed $2,460,000 (the "Bonds") for the purpose of redeeming
the Prior Issue. The City Council of the City will provide for the public sale of the
Bonds by resolution.
4. This ordinance will be in full force and effect from {Jdter thirty (30)
days after its passage. ~/ /~
~a~~,,~Mayor
First Reading:
Second Reading:
Offered By:
Roll Call:
Date of Passage: August 5,
Secretary' to the Co'~n~il
July 8, 1985
August 5, 1985
Peterson
Hovland, Petkoff,
1985
Seconded By: Petkoff
Peterson, Nawrocki - aye
Carl son - absent