Res 70 - 386 Correcting Resolution #201 which Designated by Improvement the Monies Received from the Sale of $500,000 Temporary Improvement Bonds of 1968Village of Mendota Heights
Dakota County, Minnesota
RESOLUTION N0. 3 ��
RESOLUTION CORRECTING RESOLUTION NO. 201
WHICH DESIGNATED BY IMPROVEMENT THE MONIES
RECEIVED FROM THE SALE OF $500,000 TEMPORARY
IMPROVEMENT BONDS OF 1968
WHEREAS, the Village of Mendota Heights has heretofore issued $500,000
of Temporary Improvement Bonds dated December 1, 1968; and
WHEREAS, the proceeds from the sale of said bonds were designated to
be paid into separate funds as follows: $165,000 to the Somerset Park
Sewer, Street and Storm Sewer Improvement Fund, $280,000 to the Friendly
Hills Sanitary Sewer Improvement Fund, and $55,000 to the Mayfield
Heights Water Line Improvement Fund; and
WHEREAS, the Mayfield Heights project was included within the Inter-
ceptor Sewer Improvement Fund (Improvement 4, Project 7G) and financed
wi�th Interceptor Sewer funds; and
WHEREAS, the combined costs of the Somerset Park Sewer, Street and
Storm Sewer Improvement and the Friendly Hills Sanitary Sewer
Improvement.exceed their combined designated funds of $445,000;
;
NOW THEREFORE, IT IS HEREBY RESOLVED by the Village Council of the
Village of Mendota Heights, Minnesota, as follows:
That the entire proceeds from the sale of said $500,000
Temporary Improvement Bonds dated December 1, 1968,
were for the purpose of financing, without designation
by 'improvement, the Somerset Park Sewer, Street and Storm
Sewer Improvements and the Friendly Hills Sanitary Sewer
Improvements which were included within Resolution No. 201.
Adop�ed by the Village Council of the Village of Mendota Heights this
� day of November, 1970.
VILLAGE COUNCIL
VIL OF D A E GHTS
By Q �
Dona . L. Hu er
Mayor