Res 1982 - 74 Supporting Constituional Amendment #2, an Amendment to the MN Constitution on Highway Bonding, to Remove Restrictions on the Interest Rates for & the Amount of Trunk Highway BondsCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. 82-74
RESOLUTION SUPPORTING CONSTITUTIONAL AMENDMENT #2, AN AMENDMENT
TO THE.. MINNESOTA CONSTITUTION ON HIGHWAY BONDING, TO REMOVE
RESTRICTIONS ON THE INTEREST RATES FOR AND THE AMOUNT OF TRUNK
HIGHWAY BONDS.
WHEREAS, the City Council of the City of Mendota Heights has reviewed the
facts concerning the need for a Minnesota Constitutional Amendment removing
Highway Bonding Restrictions in the Minnesota Constitution; and
WHEREAS, finds that a 5% interest rate and $150 million maximum borrowing
amount are obsolete in current economic'mes; and
WHEREAS, recognizes the urgent need to provide flexibility to the state
legislature and administration to be able to adequately fund necessary Trunk
Highway and Bridge repairs and replacements; and
WHEREAS, believes that additional financing capability to support good highways
will also aid in improving the economic vitality of Minnesota and the City of
Mendota Heights by providing more jobs and transportation facilities for the
movement of goods and materials in the state.
NOW THEREFORE BE IT RESOLVED, by the City Council of the City;of Mendota
Heights, County of Dakota, State of Minnesota, that _Constitutional Amendment
#2, an amendment to the Minnesota Constitution to remove restrictions on the
interest rates for and the amount of Trunk Highway Bonds, be supported; and
BE IT FURTHER RESOLVED, that the City Council of the City of Mendota Heights
urges all residents of the City voting at the November 2, 1982 election to cast
a 'yes' vote for Constitutional Amendment #2.
Adopted by the City Council of the City of Mendota Heights this 7th day of
September, 1982.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
By R&t% Oi ..W
Robert G. Lockwood
Mayor
ATTEST:
ac1,,_
thleen M. Swanson
City Clerk