CC 12-16-1971 - Laserfiche WebLink

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. . without mailing. Holders of prepayable bonds may request such notice by advising the Village Treasurer of their names and ad- dresses and the serial numb~rs of the bonds held by them. 3.04 The tonds and the interest coupons and the certificate on the reverse side of each bond shall be executed and authenti- cated in behalf of the Village by the signature of the Mayor, attested by the Village Treasurer, and the corporate seal of the VillaGe sha L 1 bE' aff:i"xed to each bond. All signatures and the seal shall be printed, engraved or lithographed facsimiles except for the manual siGnature of the Mayor on the face of each bond. The bonds shall then.be delivered by the Treasurer to the pur- chasers on receipt of the cash purchase price stated in Section 1.03, and the purchasers :;hall not be required to see to the application of the p~oceeds. I Section 4. Sinking Fund,Special Assessments and Tax Levies. 4.01 There is hereby created, and there shall be maintained by the Village Treasurer on the official books and records of the Village, so long as any of the bonds herein authorized or other improvement bonds shall be outstanding, a separate and special debt redemption fund to be designated as the "Improvement Bond Sinking Fund", The moneys in said fund shall be held and used only for the payment, of the principal and interest on the bonds herein authorized and on any bonds issued and to be issued for improvements instituted pursuant to Minnesota Statutes, Chapter 429, and acts amenda,tory thereof and supplemental thereto which are directed to be paid from such fund, as such payments become due, or to prepay and redeem such bonds when and as ,they become prepayable acc~rding to their terms. Interest and principal, if any, becoming due on any bonds prior to the completion and pay- ment of the cost of the improvement for which they are issued shall be paid by the transfer of moneys from the fund of such improvement to said ,Sinking Fund. After payment of the cost of any such imprivement, the fund thereof shall be discontinued and all subsequent collections of taxes and assessments levied in respect thereof shall be paid as received into said sinking fund. The funds of said i~provements designated in Section 1.01, supra, are hereby discontinued, and all remaining special assessments collectible for said improvements are hereby appropriated to said Sinking Fund. ' 4.02 Pursuant to the provisions of Minnesota Statutes, Chap- ter 429, the Village has specially assessed owners of property 'specially,benefited' by the improvements in amounts not exceeding such special benefits, and the principal amounts of such special assessments remaining unpaid, the years in which the installments thereof are collectible, and the interest rate on deferred in- stallments are as ~ollows: -8-