HomeMy WebLinkAbout7234 - ADMIN Resolution - City Council - 1982/09/20September 20, 1982
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RESOLUTION N0. 7234
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 St. Louis Park, Minnesota, 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 times, 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 capability to support good highways
will also aid in improving the economic vitality of Minnesota and the City
of St. Louis Park 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 St.
Louis Park, County of Hennepin, 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 St. Louis Park
urges all residents of the City voting at the November 2, 1982 election, to
cast a 'yes' vote for Constitutional Amendment #2.
Adopted this 20th day of September, 1982
Attest:
tity Jerk V
c01"kt4L)
Reviewed for administration:
manioer
Approved as to form and legality:
City Attorney
L.ity Attorney