01-27-1964 VCM - Laserfiche WebLink

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l~,\ ----! 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.