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<br />'tI l rage C~HHlci I Minl.ltss
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<br />Nov. 29, 1971
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<br />Coma:! lroer. Olmsn and Hpllsllhorst steted they felt thet the largest
<br />p~rt of the cost should be paid by Ilssessments,bUf ,that someparf
<br />of It coule! probl!bly be paid with genenl hX$s.
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<br />Rogsr Railing revlowed'the teet thet the Public Works Committee
<br />rocomll1ended 'that the project be paid from general taxes. He s8,1<I ,
<br />"\'hi:Jt when the streot 11Ilprovement WllS done on Glenpllul Avenue !leverell
<br />'leurS ego, ~'he residents at 'the ellst end of the road'recelvedlll
<br />storm sewer plus 'th0 rOlld Improvement l'lnd ,those at the IOlfer end did
<br />not. HO\'le\le r, tlla I!HSSaS!lment cha&"ga on the! mprovlilmsnt WllS the sallle,
<br />for everyone.
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<br />Peter Popovich stated thet all property wlthln'll drainage erea can
<br />be assessed ! f a tl\~n0f I 'I' cen bo shown. A supp I ement. I llssessment
<br />011 a former improvement can be m!lde If the Council can deterllll,n. 'I'll.'
<br />en area lbellElvitted from, the Improvement, but did not pay foil" such
<br />ben0flt at the tlm~.
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<br />Ac~I"9 Mayor Hollenhorst closed the dlscussl~n at .1" p.m. The
<br />Council 1'19i"el';d to give the lIIetter further study. .Clerk Administrator
<br />Stro~quht WfIlS $Ske.ll to furnish the COllncl1 Inforllllltlon regarding
<br />:'>torm sewer (f Inlllnclng policies In adjOining communities.
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<br />9.1,1('11)$:5 TeWlIlQl"l!r.... BOWlds _ 'R~ 'kc ,11-S1
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<br />P"tlll&" S. POVlovlcll, 'H~. ~ &90 BOlld Comm a 7l1ht, aJihed tho Councllthllt
<br />the S'<1l&"!os:3 T0mpOf'l,r'f Bonds, hSl,led tor $I,7:!lS.OOO, &r~ due Jan. "
<br />i973, bllt are cSlltlble January I, 1972 oi'! 30 deys lIotlce. Mr. Popovich
<br />rev/awed his letter totlile Council, deted November 29,1971. He $!i1c1
<br />that the bond market is considerably better today than It was when
<br />the Issue was sold In December 1969. The Indel< at thllt time "'.as 6.72
<br />and ~Ia$l 5.36 on November 25, 1971. He seld the market hes Improved,
<br />but is ortatic. He recommended II reftmdll1g permanent definitive
<br />I$Sua Gt this time In tile amollnt of $1,220,000, which should prpduce
<br />e saving of over 1% for the Village. The Council discussed with
<br />Mr. Popovich sllch Items liS length of Issue, total amount ofboncls to
<br />be $otd and our bond rating In the pest. Treasurer O'Kelly recom-
<br />mende~ that we r~*!nanc6 the issue now.
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<br />AftiSr discussion, the follOWing determinations were made:
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<br />(I) $1,220,000 bon~s be sold December 16, i~71 at 8:00 p.m.
<br />at the Village Hall,
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<br />(21 The bonds be 51! read ove r 20 years, trOIll 1972 to 1992"
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<br />(:3) 101::l'/" Water Bmprovelllents 70-1 /lnd 71-1 end Sanlhry Sewer 16
<br />be paid by borrowing from existing funds. .ndb. financed
<br />lit a future bond sale.
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<br />(4) That a neu bond rating not be requested at this time.
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<br />~jotl(l" 1;1&$ made by HQnderson. s@colHled by HerriCk, that RU9luflon
<br />No. ~$1. provld!~9 for Public Saie of $1,220,000 Improvement
<br />BOfHl:; on Oeci!l~,ber HL 1971 at 8:00 p.m, ai" th@ ~rden HI i Is VI Hlllge
<br />H~it. b$ GPprovad; ~otioo carried ~nanlm9~sly.
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<br />REPORT Of V i llAGE,P.TTORi'~EY VI NCEWi P. COURTNEY
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<br />Wct0r~~in Ea~6rnQn~ Gau~22
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<br />Mt\,. CClirtell!tV /"@[:lOt".'fJd that ,Atty. JO$. Sll,! ~aWld has bur; llelioti!H'I~i/
<br />t41th HcwardSc:hl.litz tor" wevl!ll"malll 0eseljJ,9~t to cross11ils property
<br />e't :'iH\O Now BrlgtdpJi Road.. Mo.rthwl8stern SAlt I T'lltlllj)honlll Co. '11111'11"1$ to
<br />,\Jill cHI I.lIH!~ rgrolll1 d q;b!:;; Qn ollr p ropOSiiiH~ e<lS0lilSnt. The Coune: II /
<br />"""";;:.r th.. ""+11#" tQ +'l"' III 1 III,e fiR~llI~u 'Fl_ At+~.!,1tr ^-.....,ft1
<br />tn'lilt tllst anv lld(ll'tloflEd loga! fees or o1"hil1lr fees relating toO
<br />til<<l ra'.jllut be boL"i'll.\ by Ncrth\>iuhrll 13.11 T%i'epl1one Co.... ~
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