01-27-1964 VCM
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EXTRACT OF MINUTES OF MEETING OF THE
VILLAGE COUNCIL OF THE VILLAGE OF ELK RIVER, SHERBURNE
COUNTY, MINNESOTA
Pursuant to due call and notice thereof, a Special
meeting of the Village Council of the Village of Elk River, Sher-
burne County, Minnesota, was duly held at the Village Hall in said
Village on January 27 , 19 64 , at 4:00 o'clock P.M.
The following members were present: H. L. Johnson, Mayor;
D. A. .Norris and August Meyer, Councilmen; and H. A. Briggs, Village Clerk,
and the fOllowing were absent: Hilmer Bartelt
Member A. Mever
moved its adoption:
introduced the following resolution and
RESOLUTION AUTHORIZING THE ISSUANCE AND SALE
OF GENERAL OB~IGATION REFUNDING IMPROVEMENT BONDS OF 1964
BE IT RESOLVED by the Village Council of the Village of Elk:.
River, Minne sota, as follows:: .
1. The Village Council does hereby find" determine, and declare
that it is necessary and advisable for the reduction of interest cost
to the municipality, and for the purpose of adjusting maturities in
relation to the resources available for their payment, and consis-
tent with the covenants made with the holders thereof to refund the
principal of the following listed outstanding obligations of the
municipality:
( a)
$105,000 Sewage Treatment Plant Bonds dated January
1, 1960.
$120,000 Sewer Improvement Bonds of 1960, dated April
1, 1960.
$12,000 Supplemental Sewer Improvement Bonds of 1960,
dated September 1, 1960.
(b)
(c)
2. It is hereby found and determined that all or a part of
the several. issues of obligations listed in paragraph 1 above ma-
ture more than 6 months after February 15, 1964, the date on which
it is proposed to issue the refunding obligations to be issued here-
under, and that all of the obligations to be refunded mature or are
callable before February 15, 1974. It is further found that the
principal of the issues listed in paragraph 1 will total $213,000
on the date it is proposed to issue the refunding obligations herein
authorized.
3. This COw~cil shall meet at the time, and place specified
in the form of notice hereinafter contained for, the purpose of
opening and considering sealed bids for, and awarding the sale of,
the $213,000 General Obligat1on Refunding Improvement Bond::; of '
1964 of said Village. ,,-., .
4. The Clerk is hereby authorized and directed to cause'no- .
tice of the time, place, and purpose of said meeting to be'pub-
lished in the official,newspaper of the Village and in the Commer-
cial West as provided by law, which notice shall be in substantially
the fOllowing form:
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