HomeMy WebLinkAboutOrdinance 1106ORDINANCE NO. 1106
BEING AN ORDINANCE AUTHORIZING THE ISSUANCE OF
$2,100,000 GENERAL OBLIGATION TAX INCREMENT BONDS OF 1985
SERIES A
The City of Columbia tIeights does ordain:
1. rfhe City of Columbia Heights (tile "City") is a holne rule charter city
and a political subdivision of the State of Minnesota.
2. Pursuant to Minnesota Statutes, Section 273.77 the City is authorized
to issue general obligation bonds to finance public redevelopment costs incurred by
The Housing and Redevelopment Authority izl and for the City of Columbia Heights,
Minnesota (the "Authority") pursuant to Minnesota Statutes, Chapter 462.
3. It is hereby found and determined to be necessary and in the best
interest of the City for the City to issue its General Obligation Tax Increment Bonds
of 1985, Series A (the "Bonds") in a principal amount not to exceed $2,100,000 for the
purpose of financing the public redevelopment costs incurred by the Authority in
connection with the Downtown C.B.D. Revitalization Project. The City Council of
the City will provide for the public sale of the Bonds by resolution.
force r.~.~ ~./~ e+^~.:.a.and effect (30)
4. ql~is ordinance will be in full ~),,,,,.a~,t'-~,=~ [,,,,~-~
days after its passage.
First Reading:
Second Reading:
Offered By:
Roll Call:
Date of Passage: Au§ust ~,
/ Secretary to the Council
July 8, 1985
August 5~ 1985
Peterson
Hovland, Petkoff,
1985
Seconded B¥¢ Petkoff
Peterson~ Nawrocki ~ aye
Carlson --absent