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<br />UpoIl. or prior to 'the completion of' said imprO";r~, it will do end -per~
<br />forlll e.ll acts end i.billSs necess8.1'y tor t..'lc fiIlfll aud valid ~e\;'Y' of said.
<br />5peci$l asS0CGmonts that if ~ assessment sbW.J.. be at ~ tj,me M1.d. inri
<br />valid, due to IJlly error, defect cr;..' irregular1:ty :l.n I!IJ't$ action arproceed:Ul$
<br />taken or to ~ taken by the V1J.ls.ge or py tI1is COUtlOil or 1Tj' fiIJlif of the Vll~
<br />loge' C of1'5.cers or c.'lI,PlOj.'\'leS, either :ill the making of "1.!Ch Mses~ts or
<br />in tl:l0 :wr:rormance of llJJY coo.d:!:t.lol1 ;)I'ee~0ent tb.i;rql;O, tJl.e. V~ andtl1is
<br />Council ;rill tol"tl:tW1tb. do o.ll lluch f'.xrther acts and take ell 3"l.1.<:h ;f'urll:ler
<br />proceedings a.\l ~Jtr;! be required lIy law to.make sa.id lU1f,e5,trllen~~,: a. valid. and
<br />binding lieu lJ;iJOU so.1ll. properl;;;; t.,'laJ~ sll..id a.sse$sment~. 3haU be l~le in
<br />tvr.n:rty (20) equal, cons"cWoive, D.f."1n1l8.l l1J.Sta.llr.1effi;i1, the tinrt of'Sfj.id :l.n"
<br />Sta1.11ne.utr, to be }.)l.e.ced on the tax r-ollC' of the 'Ye$.' 1961, collectible in
<br />the succeeU.:i.ng ye,ar, 8n(l tllii1t. C!.eferred inoto:;..lll;JS::\,\:& of caid M5es=ts
<br />:3hs,1J.l16&'l.ll.t.erest at the ~-et", of five per cent (5%) Wl' antr.;llJl. .!Q the
<br />first ';nd:;n.lJ.;:.Je,IIt shall be 00ded iriterest on the. entire aszefj~ frar,
<br />the de;t;e of the recolution 1eil'~ the SIlIOle to December 31 of the ~ :l.n
<br />Wich the ;?ir:rc inst.a.1J..ln"4"1:t; is payable. Toea.ch su,bseqwmt inGt'" lm"Qt
<br />when due shall be added interest fO"!' one Yel1lJ;' OIl, uU un:;>a.id :l.nsta1.ll:1entl'l.
<br />It is estimated that S$id :l.ns~rrt.s of pr1nc:l:PaJ. and :tnte~:rt; ;r.l.lJ. Qe
<br />received in the ye,S.rs and in amat.Il1to ou:f'f':l.cient to produce S'lll1lIl oUbIftM,~
<br />t~ more tbml. five per Celnt (5'f.) in excess af the am11fu1 prineipe(!. and
<br />:l.ntereS't ~s due OIl, the bondl> heretofore soJ.d and p!'f;lse~ to 'be
<br />iSmJed. The r:1gb:t; ia 1"ellerved, h<lwever~ to prQVid/:l tor the ~ of a
<br />:portiOl'l of the cost of sa:l.d :l.1~ 'by the levy of Q/i valorem taxes
<br />l1pOO all tuxable prope:rty w1:t;h:Lu. the VillsEIeJ in lieu of the lev:! of ape-
<br />c:l.al M:3esame:nta; a.tld :l.n such event 'the VU1.age e~s and og:rees that
<br />the special aasessments wU.1. :In t?XI\f Case be leVied :In amount ou;N.';l.cient.
<br />to :pa;y not less tlum twenty per cent (~) of the c~% of the i:nprovemlmt,
<br />e.n4 that the taxes w-lJ,1 'be levied for the years and III ~s Gucll Il.C to
<br />produce, together with the collectlOl'lo of the o:pecial aGsef"smerrt.$, e.n4 01'
<br />the net !leller revenue appropri",,[;ec1. to the Sin:I'"..ing Fund by ~d ret;ol:ution
<br />or ~,ovember 3, 1959, SUll1S s:u:L'ficient to pe;f thepr:l.ncil1& and irJ;terellt when
<br />due on all bonds :l.ssood w:lj..'1 i'espe<::t to too ;lJll:provemel:lt, and to :;;l1'O"rii'..c the
<br />five per cent (5%) en:ess r....-qu.ired 1TJ MilmesQt$. Stal;ui;es, Gcct1.Ol'l1,75.61.
<br />~vel., the full faith &:l!1 c):edit of the Vmage llhall be and are bel:'eby
<br />:l.rrevoca.bly }.)l.edged for the Pt"a1l"Pt and f\lll ~ of the principal Of
<br />a.tld interest on all banda issued with l:'eS~t to Sanitary ~r Il1lprove-
<br />m.ent Wo. Ii., and for the levy and collection of: ~ additione.l taxeD :required
<br />for such purpose, in accordance vltl;l tllc J:l!'O'I'isione of: said resolution af
<br />NoveL'l.~r 3" 1959.
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<br />5 . For tlle );lU.t'"pOElC of' p~iIlg the C()$t of: said :t~nt, $nd
<br />in rmtici)?l1tion 01' the collection or sa:l..d. 6:P9Cial. l'I,at>e!:\smente, taxes $Ud
<br />net Gever l'evcnllea, the Vil.lege $ball1'o:t'tl$'i-th illfll1l:l ita negotiable genereJ..
<br />obl:le;atiOll. bonds. to Qe dl;lfl~ed as aani~ ~r ~ Bollds, Ser-
<br />iea D, in tJ:w. aggrega.te !>l-inC;tpal aIlIOuDt of: ~,OOQ, d<<ted. as or AFU 1,
<br />1961. Sa;1\;t bonda shall be li00 in ntlIlIber and ntlIlibered fi'(:lnl 1 to 400, :l.nclu.~
<br />sive, eat:h in the deua:;iDatian of $1,000, and sball ma:ture ser:\.a.U.y :l.n tlle
<br />t'lI"l1O\mt 01' $20,000 an A;pr:U 1. :l.n ea(ili af tlleyears 1962 through 1981. Bol:lds
<br />nwJ>ered 1 t~ 200 00all Qe Jilf.l\/lllll~e.t their respective t:rtaterl ma:twit.y
<br />dntcs without option of prior ~nt, but thOse nuniliered 201 through 400
<br />shaLt be each subJect to l:'edem:pt:l.0I:l. and:t,tt'e~ <<I; the optiOl:l. of tlle
<br />Vlll8ge on A-grU 1,. 1966, 8I.ld auy interest~"'Ilt date thereafter, e;t a
<br />price of par Clnd acc:roed :l.nterellt plus a :preI'1l1wn .(')1' $20 f:or each bond pre-
<br />I'Edd Oll or lJef'at'e October 1, 1910, I1.1:4d without premium if' .prepa.id OIl, or
<br />o.f't;el" #,prill, 1971.; ~ tl1D.t o't: the pre~e oOlld.'3at ~ time
<br />outstanding, those bear1ng the high<;st cou:pon rate shall be pre-pa.1.d firat,
<br />in imrersc order of their ceria.l nwnbeNl. Not leas than thirty d.a<{s 1ll:'ior
<br />tot..1l,~' da:t,c Dl:JC-(;if'ied f'or ~"c-<'J::~lr.l:lt.io:i.i, ('if any 01: [.;aic.. 1xmc.a .n}'. V:lllageTreao-
<br />urer sb.o.ll l1l!1il notice or the cell thereof to 'the 'ba.nk at which~ipoJ.
<br />and :l.ntereet. a;t'e then JlaIY'able a.tld to the holdltr, if: knOW, of' each borId to
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