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CC 03-22-1961
. . . . ~ . ~ ~ Extract of MinUtes Of Meeting qf ViJ..l.age Councu V:t.1.lllge of Arden HiJ.J.$, Raasey County, Mil.mesota l~h 22, 196.1. Pursusni< to due cull end nat:ice t;hereof, a. special lOOetiDg of the council of the 1I':l.J.lae;e of .I'\r&m H1ll~, ~lJota, 'W8s held gt the Council~rs in tbe Vill.1lge Hall, 1450 W!l1!'t ~ 96, St.. Paul., l41nPesota, in said Village, on t.he 22nd daiY of Narch, 1961, gt 8;00 o'clock P.M. 'l'he f'olJ.ovi1lg Tru6i;ees wre 'present: Kennedy, Ulmen Stromquist, Crepeau, and the fOllowing were !:lPsem: Aschbach *** *** *** The Clerk prellented a.ff:i.dll:v'1ts $bowil:lg publ:l.CIXl;ion of t.he not:l.ce of ~e of the $an1tat"'J Sewer ~t :BOnde, Series D, in the l!lllloOUIlt of $400,000 in 8e4ordance with 'the resoluti(ll). edo;pted FebX'UllX"'J 2:(, 1961. Said ru"fidmritf-l were eJCSlllined" found se:tisfactory end ordered pla.ced on file. The Clerk ~d tMt lJe6.led bids b8iI. been recei-ved '" :gursu.ent to said p.lb1:l.sbed not:l.ce of sale, 'lIh1ch bids 'Were thereupon ~ end }iIUblicly :rellld and. considered, and the 1Ug.be1rt and beet bid of each bidder was fOWld to be 8.6 foUOIls: Natne of Bidder or Mensger of Bid.di:llg AccOlmt Piper, Jaffxay & Hcpwood Allison-Williams Co. J. M. Jain &; Co., Inc. Juran & Moody, Inc. Kalman & Co~, Inc. E. J. Prescott & Co. Caldwell-Phillips, Inc. Sampair & Egan, Inc. mterest Rate (Jr Ra;l;cs .J?rem1um 3.50% 1962 - 1967 Par 41~O~ 1968 - 1973 4. W% 1974 - 1978 4.2~" 1979 - 1981 Plus 1.40% 5/16/61 to 10/1/62 4.2200% Net Interest 3c;h~ IJuveen & Cc>.., h CltCh1.cdf;'O 3.. Psner lear, ~~at 1.. Ban~'-:: ~ ~)t.. P8ll 1 Mannheimer Egan, Ic,c. ,St. P;;u 1 1962 1966 1967 - 1971 1972 - 1974 lC.,,75 - 1981 ....nc,::. ~:.I ~ /l., "l .k o' .. ill. \.~(" .... .,' .__ "~'. .... . Ne.~ Ir,terest Par ~~.. 90% 4...10% 4. PIllS. 1 '''J')'' 4.. L.."':'., , i'/l/c.' 1..1,.:' ., :.,-:. ~Brcus, Vindred ~ Co. 4.. 1962 - 1'?81 Plus 1.5C;< 6/l/CI 'to 4.4269% Net Interest Par 10/1/62 -1.... .. . Tx:'..;stee I<sc,nedy ~_ :l..n.troduc:ed the foUow-lng reso.1.1,$iCltl and llloved its edoptioo: RE30WrI0N AWARD!m SAW Qi' $400,000 SANITARY SEWER ~ OOllW, 3ElU'liS ]) BE l'r msGINED U<; the C~::Ll of' ~ V:U.:l.age of Arden Bills, lti.mle- Bote., that advertiGe:raen;t. IC)".(' bido f'or the J;lllI'Ohaae of $400,000 Sem;ta:ry &M;:r Impr~..rrt Benda, Series D, has been ('bJ1y ptibJ.;l.sheda.nd aU bids ~eived :pursuan:i; thereto have been. ~ &111 cJlUGidered D.Dd the ~lest and best of such bids is that of' Yipel', ,;affray ~. HOpWOOd of iAlnneapo lis. Mirl'leso't')l aid -isuoc:i.Utes, to ~lJalle the 'bwda et ~ price of ~ !W.d. accrued in:tereet plus Il. prellaium.of $ c:. 00 , tl1e 'banI'ill JmIi;uring in t.be years oet i'orth bciow t.o beat' 1Ittet'e.st a.t the J:'eS:iJective rates J)er annum set oppollite $Ucl1 ma;t;urity yea.:ro, f'rOm ~ of' walle un.til pa.id: 14e:l;u;rity y~ :tnteres"L~ 1962 - 1967 1968 - 1973 1 S'?t'. - 1 s.78 1.97~) - 19E1 3. ~'3C~; 4.DC);< 4.109'; 4 .. 207:~ . J?1~1 .additiollt.lJ. ~st II.t .~~ ~c_o:( .1.40 <f, P:l" SXlIlUlll on eacll bond i'J.'~ . a, 16 19 61 to'~ to.)e~ J 19 62 to be rep:resente<;l by oe:pa.r~ !lXld det""niilile liB" c~m. Sa;Ld.-bid Gh~l be and is hereby accepted, and t.he l~or and ViJ..l.age C1.erk are l1ereby authorized i'ortJ1l;'ith to endol'rJe su.cb ru::c"'..(J~e on a copy of &a.id bid end re1;u:t1:.l the sa;.ne 1:.0 said bidder. 'l'hegOO'l faith check. 1'Urnish..'>d by the purchaser Bball be ~d pend.:iIlg delivery oi' the bonds s.n.d. ~m of'the f\ll1 ~ price tb.ereoi', s.n.d. the Clerk ihall fortl:1'w1.th return the <Ule<lks of other b:l.dders. The notion tal.' the ed0Ption of the foregoing resolution was duly Gccondeil by Trustee Olmen -J. and upon vote be:lJ.1S taken thereon, the follOlrl.llg v'01;ed in fi;:,rar thel'eaf: All and the fol1.ov:l.nl!: voted ~t the S8,lOO: whereupon Sl:rl<l reso.1.u:tion WM dec1ered duly :passed and ado"pted. Notte . T~tee Kennedy and :moved its at'J.qption: then 1ntrodu.ced, the 1'o1lo;r1ng ~\'lo.1.ution RJi8OWl'100 AUmORIZING S lSS'l1AliClJl Qi' llQNIlI 'l'O FINA.NCE SJIN'ITARX' SEloIlm ~ NO. 4 AnD !EWl1'l1.TfUITl'D THE FOllM AND ~ 0i'$400,000 SllNI':1'ARI SIWER IMPR01l'EMl!M' ooNOO, SERIli3 D BE IT ro;;sOIi/ED by tb;, Council of tlv~ V:!.J..lage of .Arden UUle:) 1.lill1lescrlJa) 0,$ f\j.llow;:;: 1. .'1't:le V:I.ll..aSe ha$ U<J resol.ution ~ by 'tbis ~il on Nau25;196P,ai'ter notice I)Ud hellril:lg as pl'eGcribed by 1!Qf, ardered the construction of' a loca.l,".prov<~~.r:t p'Jr01.llil1lt '1;.0 end in t>Ccordauce with . .2- .... , . the provisiOl.1S or l-!1ml.esota $'t.$.tutes,. Chapter 42t), d.es~ U "Scm1~ Sewer ~t lfo. 4", cOWIiSiililg of the It!,Ylng of e. sWter;y sewer ~ tam CCll!POSed. 01' trunka and J.aterlals, lii"t stat1aus and force ma1ns, v1tIl coW1eotiorul to the sau1ta:ry sewer $tem of the Village of ltosev:Ule, 8e1:'I1- ins the a.rea l1rOPOSed. to be a.llaessed t.heret'or as described !J1 sa.14. resolu.- tion. ContrlilCts hlwe been duly ltlUU"ded to tIle lowest respansfble bidders, af'Im' ~1BelllJ!l1rt. :f'or co.m;petit1ve bids ill the -,."."'''' p:tescnbedby lali, for the CaD.:rtruction of a :portlon of said intpravemellt.. !l.'.be total. coot of the irop:l:-ovement is preseIItly est.1ma;ted st$1~,ooo, inc1W'ling cOl:I:trae'ts for COZllltruction l5I.Ud. aU othel." e;x;pell.'lC1i ll$!cesi'lm'Uy incurred and 'to be inc~ :t'r'oJ:\ the !J1ce:ptlon t.o the completion of the impI..:>v-snt. It is necen~ at tIlis time :for the VUlage to bo:t""L'OW' t.he 8= of $1100,000 to J1I!1K such costo, by the i$$Ua:'lce of general obl:lgat.1on ~ bonds l'\.ll'suuntto said Cb,apter 4a9. l3au.<lG ill this a;1lQUI1t bave been adverl:tsed o;nd Bold a.t pWil.1c sa:l.e, and. it j.s lWCesstu"y 1;0 ~~1sh a. f'lJI3d for the cans'truct;ton of said ~~ .and to Fovi.(le for tho. ~ of said bOOds, and of lmy adil.1tionaJ.. bondanecesao.ry to be lsl3'l:lOd t.o f'iJwlce the canJ?1et;ton of the impravelllfw:t, out; of the Ssui~ Sewer :tmprovement lland S:I.nk.1Dg Fund bereto:t"ore cre~, and to prellCrlbe the faun and tetmS of tile bol:J.ds, all in /iCcordancew-lth I34id Chapter 4a9 ond With M:i.lmeSO'ta statutes, Section 415.61., and the eon'\;l"aCt entered :l.D:to nth the bood. IJUrchaaer . . 2. '!here if> hereby created, a.ud the Village ~ shall herea.f'ter ma.il:J.taj,n on the books aDd records of the V~, a sepcl.'ate and slJecial :t'l.lIld das:lgnt.rted <1$ 'l;1).e "San11;a,r1J Sewer Iw.1u"-Neroent lto. 4 Fund", to 'Which 1''.lM there she.l1 be credited the ent1repl'OCeeds 01: the sale of the :lrJ1Provament b9llils herein authol-i~, end from -which there shall be paid all expellnes ~ and to be incUrred in the ,""king of Sani~ Sewer h:.<prO'll'em;mt No.4, f'l'om the iu.ee:ption to the comJ?1etion 'l'.bercof, ~ such expenses al"'e 11'lc\l1'l'Eldandallo;rad.. Said. fund 8ha1l con'\;::!.l:l.1:1e to be maintained v.o4 llhaU be credited with the proceedo of 0JJy bo11il8 BUb~tly 1sGUed for the financ:l.rlg 01' B$id :lJl(prcr.rement '\.U1:til the cost thereof is paid ill t'u.ll, il'lCluding all :interest to QCcrue end eU Vr:l.nC:1:p!tl if ~, which sheJ.l becCll!le d1.l!;! on such 'bopdz prior to the completion e.nd lilCee~e of said :lm~t. Said:t\.ln.d shall a.lJJo be cTedited 14th all co.l1e<lt:l.onLl of the special Bt:$esllmetXts to be levied st: herein 1'I'ovided, 1'I'ior to the cClllpletioo of $a1d ilr.!provement .Qlld 'l:Jl.e . p.!I;ylllellt of the coat.. thereof. There:.. e.f'ter, .said ~ fund shall be discont.in1.led. The'1"1g11t is reserved, if .'Im;f balancsof the prOCeeds of i>a1d bonds Iilhould. 'tllen rellll!till therein, to trallllfer the same to the :f'I.tt1d of ~ other sar1i1;a;ry sewer ~ subcequ.e!It1:y :L\'lStitu,ted pursuant 1;0 said Cblt;pt;e'1" 429; but all ~ XlOt so tranaferred, and all Eluboeqwmt colleet:tclnG of P/l.id aas6ssmen:ts, ilhell be pEdd a.a received into the Sinking J\md descr;!.bed be).(lIf. 3. The Village IUl5 1.'.Y' resOlution adOpted ~ 3, 1959, created. and agre<;ld tQ m&J.nta.il1 Ew e. se~e :t\ttld.~ its books end records $. S9.niter;y sever Irn:provement BoIld S:I.nk.1Dg Fund, to be used sole:t;y fOr the ~nt of the 1'I'ioo1paJ. and intererrt on 1J<n:ld$J issued to :f':\.wl.IlCe ssnital'y sewer ~a under the l]1"O\'":l.sioJ:lG of s&1d ~ 429. '!'he bondo herem $tthoriU!d !We hereby o'l."lierQd a.n.i dU'ected to be pa1d. Ottt of said. fund. on ape.rity a.a to both. j;Il":l.nCipaJ. and mi:;CreBt with ttwse hereto- tore iS$Uf)d and made ~ from iW,d i'U.Od, and eacl1 .end all of .tJle pro.- v1$iooa of sa.id resolution of Nov'etlher 3, 1959, w;1:th reference to the administntt10n of $lil.1d 1\m.d and the leV'.1 of taxell at\d spec1a.l aaseasmeIXta end the~e of net. seve)." revsnu.es for its support are bereb:r confirmed and. decl.at'ed U> be COV'ellen:tr; a.nd. agreeJOOtl1;s of the VilJ.ege of Arden Hilla for the G~=ity of the bon>w b.eI."'..dn aJ...>thori$ed.. . 4. It:ts contemplated tha.t the S];lElci8llilSsea~a to be levied 1:q.'lOn the area.z asoossabJ.e with respect toSanit~ Sewr Imp~ No. 4- 'ITiU be in the pr:l.nCi:pal amount of ll.Ill~ ~.400,ooo, a:n4 naid asseas- ll1@i;s shall be levied upotl s\wh properlie$ in llIllf)Unta 1'I'crpo:rt.i~e to.8Jld nal; exeeedil18 the special benefits .to be derived by the reapective proper- ties i'ran said 1Inprovement;. The Village hereby covenanta and earees tl1at . -.3"" . . . UpoIl. or prior to 'the completion of' said imprO";r~, it will do end -per~ forlll e.ll acts end i.billSs necess8.1'y tor t..'lc fiIlfll aud valid ~e\;'Y' of said. 5peci$l asS0CGmonts that if ~ assessment sbW.J.. be at ~ tj,me M1.d. inri valid, due to IJlly error, defect cr;..' irregular1:ty :l.n I!IJ't$ action arproceed:Ul$ taken or to ~ taken by the V1J.ls.ge or py tI1is COUtlOil or 1Tj' fiIJlif of the Vll~ loge' C of1'5.cers or c.'lI,PlOj.'\'leS, either :ill the making of "1.!Ch Mses~ts or in tl:l0 :wr:rormance of llJJY coo.d:!:t.lol1 ;)I'ee~0ent tb.i;rql;O, tJl.e. V~ andtl1is Council ;rill tol"tl:tW1tb. do o.ll lluch f'.xrther acts and take ell 3"l.1.<:h ;f'urll:ler proceedings a.\l ~Jtr;! be required lIy law to.make sa.id lU1f,e5,trllen~~,: a. valid. and binding lieu lJ;iJOU so.1ll. properl;;;; t.,'laJ~ sll..id a.sse$sment~. 3haU be l~le in tvr.n:rty (20) equal, cons"cWoive, D.f."1n1l8.l l1J.Sta.llr.1effi;i1, the tinrt of'Sfj.id :l.n" Sta1.11ne.utr, to be }.)l.e.ced on the tax r-ollC' of the 'Ye$.' 1961, collectible in the succeeU.:i.ng ye,ar, 8n(l tllii1t. C!.eferred inoto:;..lll;JS::\,\:& of caid M5es=ts :3hs,1J.l16&'l.ll.t.erest at the ~-et", of five per cent (5%) Wl' antr.;llJl. .!Q the first ';nd:;n.lJ.;:.Je,IIt shall be 00ded iriterest on the. entire aszefj~ frar, the de;t;e of the recolution 1eil'~ the SIlIOle to December 31 of the ~ :l.n Wich the ;?ir:rc inst.a.1J..ln"4"1:t; is payable. Toea.ch su,bseqwmt inGt'" lm"Qt when due shall be added interest fO"!' one Yel1lJ;' OIl, uU un:;>a.id :l.nsta1.ll:1entl'l. It is estimated that S$id :l.ns~rrt.s of pr1nc:l:PaJ. and :tnte~:rt; ;r.l.lJ. Qe received in the ye,S.rs and in amat.Il1to ou:f'f':l.cient to produce S'lll1lIl oUbIftM,~ t~ more tbml. five per Celnt (5'f.) in excess af the am11fu1 prineipe(!. and :l.ntereS't ~s due OIl, the bondl> heretofore soJ.d and p!'f;lse~ to 'be iSmJed. The r:1gb:t; ia 1"ellerved, h<lwever~ to prQVid/:l tor the ~ of a :portiOl'l of the cost of sa:l.d :l.1~ 'by the levy of Q/i valorem taxes l1pOO all tuxable prope:rty w1:t;h:Lu. the VillsEIeJ in lieu of the lev:! of ape- c:l.al M:3esame:nta; a.tld :l.n such event 'the VU1.age e~s and og:rees that the special aasessments wU.1. :In t?XI\f Case be leVied :In amount ou;N.';l.cient. to :pa;y not less tlum twenty per cent (~) of the c~% of the i:nprovemlmt, e.n4 that the taxes w-lJ,1 'be levied for the years and III ~s Gucll Il.C to produce, together with the collectlOl'lo of the o:pecial aGsef"smerrt.$, e.n4 01' the net !leller revenue appropri",,[;ec1. to the Sin:I'"..ing Fund by ~d ret;ol:ution or ~,ovember 3, 1959, SUll1S s:u:L'ficient to pe;f thepr:l.ncil1& and irJ;terellt when due on all bonds :l.ssood w:lj..'1 i'espe<::t to too ;lJll:provemel:lt, and to :;;l1'O"rii'..c the five per cent (5%) en:ess r....-qu.ired 1TJ MilmesQt$. Stal;ui;es, Gcct1.Ol'l1,75.61. ~vel., the full faith &:l!1 c):edit of the Vmage llhall be and are bel:'eby :l.rrevoca.bly }.)l.edged for the Pt"a1l"Pt and f\lll ~ of the principal Of a.tld interest on all banda issued with l:'eS~t to Sanitary ~r Il1lprove- m.ent Wo. Ii., and for the levy and collection of: ~ additione.l taxeD :required for such purpose, in accordance vltl;l tllc J:l!'O'I'isione of: said resolution af NoveL'l.~r 3" 1959. . 5 . For tlle );lU.t'"pOElC of' p~iIlg the C()$t of: said :t~nt, $nd in rmtici)?l1tion 01' the collection or sa:l..d. 6:P9Cial. l'I,at>e!:\smente, taxes $Ud net Gever l'evcnllea, the Vil.lege $ball1'o:t'tl$'i-th illfll1l:l ita negotiable genereJ.. obl:le;atiOll. bonds. to Qe dl;lfl~ed as aani~ ~r ~ Bollds, Ser- iea D, in tJ:w. aggrega.te !>l-inC;tpal aIlIOuDt of: ~,OOQ, d<<ted. as or AFU 1, 1961. Sa;1\;t bonda shall be li00 in ntlIlIber and ntlIlibered fi'(:lnl 1 to 400, :l.nclu.~ sive, eat:h in the deua:;iDatian of $1,000, and sball ma:ture ser:\.a.U.y :l.n tlle t'lI"l1O\mt 01' $20,000 an A;pr:U 1. :l.n ea(ili af tlleyears 1962 through 1981. Bol:lds nwJ>ered 1 t~ 200 00all Qe Jilf.l\/lllll~e.t their respective t:rtaterl ma:twit.y dntcs without option of prior ~nt, but thOse nuniliered 201 through 400 shaLt be each subJect to l:'edem:pt:l.0I:l. and:t,tt'e~ <<I; the optiOl:l. of tlle Vlll8ge on A-grU 1,. 1966, 8I.ld auy interest~"'Ilt date thereafter, e;t a price of par Clnd acc:roed :l.nterellt plus a :preI'1l1wn .(')1' $20 f:or each bond pre- I'Edd Oll or lJef'at'e October 1, 1910, I1.1:4d without premium if' .prepa.id OIl, or o.f't;el" #,prill, 1971.; ~ tl1D.t o't: the pre~e oOlld.'3at ~ time outstanding, those bear1ng the high<;st cou:pon rate shall be pre-pa.1.d firat, in imrersc order of their ceria.l nwnbeNl. Not leas than thirty d.a<{s 1ll:'ior tot..1l,~' da:t,c Dl:JC-(;if'ied f'or ~"c-<'J::~lr.l:lt.io:i.i, ('if any 01: [.;aic.. 1xmc.a .n}'. V:lllageTreao- urer sb.o.ll l1l!1il notice or the cell thereof to 'the 'ba.nk at which~ipoJ. and :l.ntereet. a;t'e then JlaIY'able a.tld to the holdltr, if: knOW, of' each borId to . -4- , . 00 prepa;l.c1, l1Ind said ~u,.~r shall :ma1nta!n a T$::Cll"d of: the nl!lllll!!ll ~ I!l.dtlress~s ot theholdflr& of pre~ablc bonds Of said :Lasue so far all I.'laid :l.x:l1'~iOn is maile lMlilp'b1e to him, :fOX'tbe pu:rpC>ae of meiHng said notices. .tI.'be bands of said iSll~ ~ .tJle re,epeetive ser-ltl,l nUtlbers lllJd ma.t.1.1.riJ1g in the re.tl'peCt:l.ve year!.' >Jet :forth below, ohall beti.r mt;~lli; at tlle !\Unual rates set i'orth opposite said l!lll;twity ~ctr.'r; and MrieJ. nUl11~ berG.: Maturity y~ ~:lt}ii..J~l3!. ]J:rb!tre~ Rates 3.50% 4000% 4. lO~~ 4 ~ 2C% 1962 - 1967 1968 - 1973 1974 - 1978 1979 - 1981 1 - 120 121 - 240 241 - 3M 341 - 3SC . l;ach 01' said botlda shall bear in~st at 1;ba additionaJ. l:'tl:te o~ 1 At j P'Jl" tWlUirl frOtll ~''''Y 1 ~ .. __, 19...iJ, to Octcbe~ 1._ .' 196L to 00 evidenced a ile:plll.t'al;.e set of interest coupons dell:l,goa.tedaa "B'W Cb1.l,1'lOlJ.s. Interest on Jila:l.d 'bondll f.lhaU 'be ~1~ l\pril 1, 1968, tmd GelId- ~ t.bereu.iter 011 OptOber 1 o.nd A.pr:U 1 Qt e&.cla. year. Both princ1paJ. and lE~erest shall be :pe;yaQle o;t the ^\reri qm j;/ati9nal :3ank of ~;)~lby ~a to P9?the ~aa~i:?~ d~=\~a.rge6' o~oo1~ pa,)"ing !lg(m'l; 1'1:Ir the rece:!.yt and disbm"sement 'tll.ereo:f. 6. Said. imprwement bonds and the c01.t!lOCa apperta;i.niIIg thereto shall 00 :m sublltant:!.aJ.ly the toJ.lawing tonu: . -5- . , . ,~,tl'llil>l S'J!A!IS CI7 AMBRICA SfAIS O1Il1hm _ COl:.ll:l'h .f1t iWImr vn.r,. ... AItIII IIXUB ~ $IWllIa ~.- lrJlttl ~D lfo. -,,~. $1. (lOO . !ifOW AloL - .. ~ ~~ 'ths:t _ VUJ.,. of ~ 1f11..1ll, fl, dUly ~:>.ed ~cipal c~1llrl of: ~ ~, ~~j ~ l~l~c ~:i;t)e~1' 'to be bl(lelrt:ed l!llJd f't1:r ~ l"eCe1.~ ~C$ 'to P/i1 ,. 'betu;oe.' t.be ll~ of' OD ~ OOl.trANS on '\;bIIl!lt Gay <sr A,pt!ll, 1.9_J' Ql!', U th;te ~ ill pI.'e~~ !W ~ below, ('.11 a date .~ ~ Qn. 1rll:!t'-u it Slhall M'~ ~ dttly e6.l.l.ed f<n' 1"ede!lll'ltiQli., _ to 1>I\Y ~ tblm\l<m at tbe rato. oL _-_____ ." tm: oen:t ( .~) 1*' ~ ~ 'tl1a ~ ~ Ul2tU pdd. or until th,t.~ l'lOnd, 1.:t ~e, baa bean .du1:r e&U.e4 for ~iOr1, 1ilWl Il&!1t~ ~et Oft ~ ~ (~:~J);:=:~~~:: __._~--"--;-l~._-t(, -.' _ ~ <*It 19........... Sa.1d ~st. 1.0 ~e Jl,prn L 1.962, mxl r~l~ on i;be 1m. .Olo/ Qt' ~ -. the J.et ~. (iti' AprU in ee.ch yefI.r, . ~ll1; 1;,0 Il'IIid;'.u-ity 1xlL'it'> ~le in lilC()f:Il"d~e 'lfitn .~..u;pa:l ''1.''t,.sent.sl;1an aad 1,7...- :l'lmdc:i." i::lf 1'''''' in~ <X.t~s 1'li1pt>.;~ bex'eto, eo;nr;1"rt:l.l'k~ o:!: OIOe $e1; Qf c~ re-~~nt.:l.ng ~re!'li; i'r<n (1$<;> Of if<1NIt to J::ttrt;ur:l:t,r at the baric ~ si:l!l;te<.l.a~XNe) anCl, a ,,~ 8f''';~ 6.e$~ 81! "D" C9lxpctl.ll, ~~ ~ ~ot l'.>t the 1'Al'Id.11l~ mte 6lJi tor tbe l:l-uted lJer:Lod Il'tat.ed ~. BQtb Prl.ltc:t)';l(lJ. at1ll ~:;t m"e~a at. ____._~,____,_~__~__ 1U~. <;,7';1;.~'Ourr~-Of~ Uuit.ed ~Qi ""';;;Y;.-~1dh-M tbj ~pee~ t1~tlate$ of ~ .111 leg&t tletlde!' :tor ~lvlltte ~ pubHe @bte. JW'the pl'Q4J:ll. tmd full ~ Of .lrtleh l?1"inc:i.~ end ~fJ't .ll.ll the flt\ll1$ becal>.e -.> 'the *'~ tai'th, <m!dit .lll!1d i:liV.ing 'PO'~ .ot t.h& V:l~ .~ b&...ab;y 1........ ~~. '111.1.$ 'hor.lIl1a CIbe ~ So ~. :m tbe ~~ ~pll.l ~ (It $ll(lO,OOO, aU O't liW <'!.ate 11M. ~or t!lXqe'pt Q,'!l to ~ ~'rli ~<1t rata, ~1f;y IIlI:l4 ~i.oo );Ir:tv:u~, 191J1.l$d far t.lle ~ o:f'Qe~ ~~etI 1xlc~ Md. to be in~ 1n ~ cant.'t1'Ul3tio!l 0,'" an :lJll;;:Iro',~'!t <1eB~ as '"l3lIrt1.-,. .....ll1' ~~ 10. 4wQf t.b.e V~ of M>detl BU:I..$} -. :is :!.IlIlNOO.~\ial.t to ~1n tI1U ~'t:r nth ~ ~ GI.'lopted by t.blt ~ CQU[jC;U e1'ter ~ 1.\$ re~ by lClI' II\'lfil );lW.'1~ tQ ~ in .t1iU. ~.".1!;.1 with.tllIi ~i\2\ ana. 1.lltW$ of' tile ~ of ~~. CJ:lab."U.rlIJ, ~~ ~ ~., CIlIIp..o tor l~. '1'h1s bQ2d is ~le'PX'~~ f'l'\llll thiIl ll<<n1t.1iW'J ~ ~ 1IIl'mt; Bond Sit-.k:l.ng .~ Qt 't:Il$. Vi'l.l.agej b\1t.tbe ~1l j,r,; wqu:I.rei tI) ~ t.be ~i1?lU Qld il1terest. t!1Ilft.eot' Qtt!; (It CI\Y ~ 1n tOO ~ 1n thIt l!Mmti . ~ w ~j OIl blim4 in sa;i.I'! fu:ld lIIit'E! I!tt .. t;illIIt '1wlW?t1aim1t to lillllJet tOO !.o!!;'/l'1!mt ot ~ ~:bIc:l.~ l;Uld ~. ~ at W. ~ *thl& ~.~ ,. ~.O (aD.... _ in 'the ~ 1962 ~. 19n) ., ~t! lit. tJ\e:L'l:'.~ 8t!Ibed :llI!Ct~':l..tw' dates w:I.~ OJ?t:l,an of 1)t"io.l' ~~, WI; ~ ~ .lMI'.r'1.8.l ~ apt. ~ !;.OO <~J.t~ in the yeerl! 19'(2 t~1I#.l19(51l ant e8llh ~Jo<:rt to ~i~ ..,. ~ ~. t.beQpt:l.~ Q'f .tlIe VjJ~ ~ .AFU 1, 1:';66, Mil lUl\Y' 1n~ct; :pa;vr..$'lTt date ~er, m la l!i.'l,ee of 1llV and aocr\Ii;!Q il}'l;e~'OlJt lilw- ~. p.retCd.l.ii(l o.i: 4<~ for ~ bon.l j;Yl'OJ?C4.d ~ Ql.' bol'o~.'e ~l., 191(), !liI1d 'Id~ prem.itlllt if pNplI.14 01). or ~ A..pdll,. J.SIll; .~ tbIlt t#'" ~ ~ at .. t1.JIlIr Gld~i., ~ beer- 1UfC t.bo ~ ~ 1"IIIto VI..ll be ~ ~, in ~ ~ (It t.lle~ . . -6- . . . . . F ~:tel ~e),"'$. \\'he 1ffl..l.ege 11"..11 mo.i.1 nc:rt:!.ce ot tM.es.t1 (.If ~ of: ::llWl ~ b ~im, I1l:it lees 't.h$n ~,. _3 ~ tQ 1;l\e dltten;pee1- tied ~ ~~1QD., ~ _ ho1~t', i1' l$;IJ.OIm, .. to tM ~ lilt 'ld(iclt ~~ lmi:1.. ~at are tJ:ilm~.. 'll*'1AJ"$.oE ~~>>.fah1.. \)(II1ds. de-- ~~ 1:0 :receive lIDl;h llQ't.iee: mo;y ~:\$tel:' t~L.' l'lalnG!i tltlIi ~.G &l4 ~ _ittl ~ or i;he1:t' 'bCl:ldJ vit.h tbe V{11* ~:t". IT IS ~ l.._.lk.u!1>>, ff'&.;~: ~..~ t.htrt all acts, ecnlitiCli141 and t.1rl.ttgG ~~ i:r% tbe Ca;lr1t1tttticn em'. lsws o:f "\.11<" 6ta:lIe.(.If r~I"iQtato '00 ~; t.() e;di;t, to ~.tlZ1l'!..to be :PE'rl'~ ~ U~'l to aM :1nthe 1a~l!I at tMs 1Xll\lI111l .~ t.o ~i't .. VIl.Ud. $ml 1xI.ndiug 8~M1'l!I.l Obligld;iM of' utU4 Vi.~ lJCC~ to its tlt:rnl4 :tI.llMl bOOn~: do e;d<rt,bAve~ !'.nd ha.Vl;: 1>000 p$d~ l.'J.l; eo~; that .tue 'il~oge htw Il.ul:y d~.1.ined the nee~n1fJ1ty e;::.i ~ :f(lf - C~lOll of ::i4\i<:1 ~: that the St1n1~ ~ ~ llG1d/1 S~ .i\lJ:ld bae 'beel2 dul;'I' C1"eat.ed end 'J.:ll'OV':1$1.a1!Jli!\fle. ~ tbe: o~'t. ~ ()'t by G'pEICW a.1.l(lCSCI"~ ..t,o be .lev:ted with l:'e~ct to the :l..~~ :NntvlCed by". said ~ J . _ by. tl1el pL~ to said .!'Urld of .net..'6~eaue$ to ~ deri'Wfl. i'1:'<Jm. tl:!e ~ial of: ~ t!llJl1il::i}llU (l(N()T, ~, to DO.celledied 8tld ~toa ;;0 !11'1:1d, :f'Imd !;t tb$'M.lllell ~ !b1i in ~ l!lJllQUlilU - lens tr>'!ln f'ive flC;t' cent. (~) ill =e,~r, of sllWl L'UN'icien'1l t':> 1J1.1;f ~ ~'t ~ and t1w :prjJ1c:l.pa:l, .~:t lIS t~ ~ve'-'tiw:LY b+llc''''''' d11e, l!Im'I. ~ ~ t....~2 i:i' ~1\'!",(t0{1. for said :('lUt';~"1~, r:::~ 'be ~ are requ;l.:rod by 1av ~ be 1~ \l:l'lOl'- .tl;U ta:m.?Le yreperty :!:Il. thll' V-LUage, 1fitwJ:t l:l:mi1;fJ.ttOl:>. tV! W mte at: l';..'\OU!'lt " 'fu'l.<<tt 0a.:l.d p.'l.edgcQ1' Il!;?t . :retrt..~1:l . of the ,:l!Wer S'Y~ cC-."!:k...t1tute3 e. :f':!.rlilt lien md. elm'ge thereon. in t:9i'mr of: the M' """" of "l;he bQrldz of i;hia :!J,m;e l!lnd of' !ll.l. ~~lg Mil ~ i[u),->>t.1 0:1' ~. GW.~iQ."l 1l:~ ::~t bot!d1; r~"fJ,ble und to 0.1 :made ~b.le ~ AM S~ J!'\:lld 'lqll'm 'I:;.hc Cl:llJQ.:!;t:!..~;o.) and. mtb.~. ;;0 i;h(;. J.illl:tt~j,OIltJ /let forth 5.n. ~ ..'<Y',.,ulutiA:B1 ~ :!.~ r&id. Sinld.ng Fuud., ~. Nci'~l' 3.. 1959; .rmd tJlIrt thc is~ of tl1$G boo4 die ",at ,~mlZe t:b.c mu<;1)'.;c-.'ll'j'" "c' of t,a:l.d V:l1.:l.age 1;0 ~e.:.--<t any ctlnC"f;1tu.- t1(:mo.loI' rrtatu.t.o~'Y :L:l.ltd_:l.Oll. Dl \'lL\r\\l~ .~ too Village Of ~ ~., 11~ ~, Min+leIlOt4, by i.t..e: V~ C<.1Un.::ll, l1.M c~.er\ this btaXl to bo e.~ed :!:It i~$ ~''f by the. ll~ ~ ,.~.~, e~~i 1:1;{ 1.1;5 V:l.l.l.t$:! c:lAlrl!, ~1 SClIil.led nth its oti'ic:\.e.l GeM, lIalli tb$ :!.nt~~'l11t J;lClJ.:pI;lUE .~ .l1at1t ~ to ':>> ~e. an<! tl:tttbantioat<<l by the. i'l:\e$WJ,e 1I~:;: Of, :::8.:,,1 of'i'ic:e:r'tJ:. /WI. l\atl e~ n t:4'l.'le I.lJ);1 c<):I.'"~t eqp",{ or theapiJl4.<lll ~ 'by borld COI.lt1neJ. .~ tQ theva.l1di1;t of the l$\lIW'l incl:udi!l() t..hW bau4, ~rad e;l; the t:l.t:lO 01.' <1e.ll~ ~:rw:t') to be ~ w t~ ~ae .~1de of thil3 bond., ~.l1M ca.umed th1.z 'bald ttJ 1)& ~ $$ of .","U'i:!, 1. 1961. C~~: .If ~ -- -- Vn1llgC ciei=!r. (sw.,) (Forrra of: Cou;PQl1) Rp. .. On _ let dIllY 01: ./WrU (oetober)" 29_, tl.1e V~ 11.ot Ar&m muo, ~ ~, l>tlnnI8~., 1l'"ill J.lOi1 to bI!!~ a:t. . , jJl . ... . .. .. --J tJ:te SUIlI of ~ lU1tf\ll rlOI'JeY iiit tJl6 ~1ted stateG of "',,^,,"'r., .,.~;. .,~,..,,_,",. ,:",-- (~"";:-~.,, "'. ... "'_.,....' +,ft"'" !'l...~~ .,'.........,...,.".....,.,1'. n"...' "=-"e" ..M.~~. ............. ,;w:.1..........-.~:>-:J .4L.li~ .~~;> .....".... ~".~ ~~.-d ......~iI'!'".r.:.. .MJ1;'..~J-'l!'.."",-1!L:::. \.., ~,~ ~z...J.. ,- >>, d81ted ;/l;pr:'ll 1, J.')6:l., !iI. (J'l<cll:l..."'\ile p~) (l'aoli1tl!;l.l.e fl.~) V~ CJ.cfrlt ~ (COtW<W" ~...~. J.O ~ ~, cttllll"'" to ~J'I~. ,ed ~ _~iltl, au e.lf.lO 1Jll:l. _~: "~)~. tbt .b(lDd ~ lleJ.olI' is.c$U.$l b .-1_ ~1Qn".) ...7.... J .. ~ '<I- .. . . 7. Said 'bond" Ghall be prepm"c': for cxecRtion Ull@r the cUl-ec- tion Of the V~e Clerlt o.nC. sluill 'be exec~ 00. 1~1i' of t.M vm.. b'J .the s::l.go.ll;t1.U"e of the lWor, coup;l;ers:igDaC!. b;{ the ViD.~ Clerk, and the corpq~ Gl!l;;l of the V:iJ.J.sge oha.ll 'be afi'1xed thereto, and the ~ :tnterest coupon" sMU. ce e=rocu:'~ed and o.utllentice.teil 'by the 1U'i.I:1teol, en- Gl'll.ved or 1:l.tbogl~ ~a.cnjJlliJ..e oi@:lo.t;Ul'eD 0: ce@-;ll ikJ.yor and ClEln. WMn said bOl:ldiJ haVe been ao executed and 11.1.rl;bF-nt.1cated, they ~ be del1wred by the Tx'eanurer to the pu1:'GMser thereof, upon ptliYllleltt of the ~e Jlr:!.ce heretoi'are cgreed ~ OJ.ocl. c:c.id. ]/urehtu;er slw..U not; 'lJe obliged to CE.'C to the C;?lJ.licatiOl1 thereo!'. ,1 . Too Village Clor), is l1c.-el)y nuthorizoG, and directed to file e. certif'ied cOJ}'.! of t:b.if.; resolutiou .dth the CQUIlty Audita'.\" o:r Ilallwey eou:rrt.y, toge~)l.e!" .nth cw::h other :l.nfortrra-Uon aG 4c r.bW-l :re<1ui:t'e, llllQ 1;0 ol>ta:i.n f'.rall "aid Coun-ty Aud:itor a certti'icute tljat llaid bonda Mve been enterod. 00. his bond register.. . 51 . .~ pf:ficero of the V~ and the COUIi.ty Auditor 01: Ranwe;{ County lJ.1.'e hereby' (l.Uthori::.ed and c1.i...-ected to :prep1U'e ?l'.I1:l.'1.l:rl4:m to the -pu;!'('.btlser of caio. bonds end to '&le attorne'<Js a,pproving the lc~illlty at the lS5uance thereat certified. oopies of all prooeed:l.ngs I)Z),d recoroi.. rel&t;Wg '~o said bondc and 'co the f:1mmcia.1 ai'L'airs of said V:l.ll..lil6e, and iWoCh otb8r afiidzv:tts" certit'ica;~" end mf'o).")J8;~ian c.z :may be re'lu.L-ed. . to GhOif the facto reJ.1:tting '00 the lega,1.it~- a,n(l l\lI:l.1'lretohUity of said bonos, as 1;;be - a:Pllcrn- frQt1 the books ':1lla. recordG woo).' their custoo~i and contJ:ol or 8.$ otherwise J;nO'.m to them, and euch cet'"ti:tica.tec, certti'ieu. cOllies and $fi'1- Cl.uv:l.tc >' 1nclllmnlit any heretofore furn.is.hed., shall ~deemed :rePl'e!leIl;tat1oo6 o-t tr.e Vi:tJ.ae(~ ac to the c;orrectnes3 of ,';111 s1;o.:te::wnts ccnta:l..ned tl:lere:l.n. The motion tor the adoptiOn of the fo:t-egoi!lg resolution w"ll.tl duly c,econd.ecl 'by Stromquist tali!. v,pau vote be~ i;alwn ~, tbe -~---' :f'oll~ voted in Awor ~f: A 11 a.nd. .the follow1Dg voted ~tl1t the SWJet None 'Whereupon OOid reaolut;:too"ii'e$ d.ecJared d.ul.y' pa.w:;ed and adopt.ed. . ~ OF Mr!'llmSO'D.) ~ OF:aAl>tiEY ~ ss. 1, the tlIlder5ipd, being the du.1.y q1.laJ.ified llnd liCt.~ c.:terlt of the V1l1~ of Arden 1I.illa, ~ C~, Minnesota., hereby cerM.fy that 1 b.!we c~ the ~1 lmil. foregoing nth the or~ tll.er9Of on fUe Il.Ild of recQrd :l.n 1lW offiCe Qld find the Sallie to be a. full > t~ and cCl.l'J:'eCt tra:nscript; of the l1l1:al%tes of a. meeting of theVn 1 ~ Councilot .ae.id Vi 1 J "lr du.1;y ea.lled Ql1d. ~ on the date ~:!.ll iDd1cated, . so :tar a.c GUGh lldnl%l;es relate to ~,400,OOO Senite.ry S<iNer I.~'overoen1; BcDds, 6er:leD D, at ~ '111- lese, a.nd. tl1c;t; ~ of the NSoluUow; c~'n..d 'therein ill U :full, ~ and cOrt'ect c.oW of the oti8i.na1 t.bereof. ~~8 rslli".nd Qld the '1eal of Go<r1 Viliage this ..1:-_2..-_ d.a;y Qf March; ~961.. iHA AA ~~~~ 1./ v (sw,) . -8- e--- , . . bt:l."tlet "f' ~tJ of !>Wei;1ug QX '(11'\ 1/ ~~;U V111. fJt ~ lW.la, ~I~~~, )M~_lllt. :1..1..l."I$ 1!;!, .1S'61 ~uMt to dl.1e C~ QI:ld ~~, Q. s~'G~al ~ Ot: ~;1'\'" COUIJ/?U Cit .t;b.e '1-1"11.' Q1' kriJIt:D. lW-le, )'<l:'T\1""I>QtA, .. ~ a1> ~ COWlCU ~~ in tbe V~c: Ball, Jk;:;O i(t;i,tl; .~ 96, St.-.t, W~sota, 'tn $(l.id V~e., 00. '(;lie ~.da;y o:t >>~. 19&., at (,:00 ~'oJ.oQlI: P.M. b :!:Q1J.0lifUl6 ~ 'III1lrQ ~: Stromquist, Cupeau, Kennedy and Olmen tlIi4 iollB f~ l!lIm:i tibO$l1t: Ashbach *** *** *** . !t'blt CJ..et'k JOll'e~ ~~"its ~ pul;!1m4l;l;:l4n Qf _ llQtil.\ll!t ctt. sal~ o:t ~ ~ ~....'t1t ~, ~ ~. in tile 1>>"O!'tlt qt 437,. m (lI;IC~1(1'tb. tM 1"G/l.Cllut;l.Q'4 ~ ~~ zr >10'6:1.. kl.d atf1dariu VQl'Q ~d, to'.md ll$.t1l3;tl.\Cto;:-y 0iIll1. o...~I'!.."d ;;;cle<:lli.i. <<> ;1......-. '!'be CJ..erk~l.liId.tlm;i; ,.......t~o ~~ bills lW'l. ~ z'I1lCaived ,~ . ~llUQUt. to ~ )iIUl:ll~ l10tlce qt ~, Wh:i.dh ~iIls ..'\1\1.'e ~ ~ QUd ~. ~~ l;\tIl:l. CQ;ll!'i(i'V"Cd. lJlld t!:II3 .~llt W,)d bect b:lil o:t ~ bi<;J; Vl:lt: :t'0I.l:n<i to be am ~: - A. ... Nw'40 ct 1:l;jq.d"1. or !!!~ Of:' ~fln:lng ~. Piper, Jaffray & Hopwood Allison-Williams Co. J.M. Dain & CO. ,Inc. Kalman & Co., Inc. E. J. Prescott &Co. Caldwell-Phillips, Inc. Sampair & Egan, Inc. American National Bank ~l1lt ~ or~ ~ 3.50% 1962 - 1967 Par 4.00% 1968 - 1971 plus 2% 6/1/61 to 3/1/62 4.1056~ Net Interest Rate 4.00% 1962 - 1971 Par plus 2% 6/1/61 to 3/1/62 4.2392% Net Interest Rate .....1. r " . Trustee Kennedy , ~... ~1~\'i6 ~.* 1lI3d.~1ta ~, ~J.l!IOS . ~ SAt.E ,. $;J'i',0tlI) ~"1' ~~ DlJml, ~ A, !IE .;W ~'/EiP 1:1$ _ ~1l fit * ~ ot ~.1ft:l.la, .... ~) ~ .<<1~ tor Mt'..s :1'w 'tbe .~ ot $3'r,OOOl!lt~ i o\-_~ 1lll!Il.t~, ~ A., 1Uia.~ ~ ~:U"llIA ~ a'U 'il~ ~~ .~.. ~>:OO .00Ne been ~ __ (."':ud.~j .ecl. tbFJ ~ and be~ of ~ biOrl ;l.B that of ....RU>.!r..__~!lfl...ls-Y...l...~Q.i..-__'"..____"'..___...,..~__._ . . erJ:. iJ. J!1J.nll!~O.Uh.Mi!1n.esota_..__, 11Illi..' a.O.flOO:IJ:rtie.. n..,. 'to.. .~.".o tbrI. . i.l(ms 4t a lriOO. (1 .~ alld ~ ~~ PJ,un Q~" .(it. ~....9...&L_.j - ~ 2lla~rC":t.'16 in "I:.he 1fe~ llI1!: ~oolQ1 td .beG:r:\n.i;tt~ . 1:.1:Ie ~j.ve ~ pax- ~:l ~ oppotlite euehmat1.1:lr!ty )'e!llCS, ~ <la;l;e o.t ~. ~ ~: ~Jb'1SL'J!lIr" 1962 - 1967 1968 ;. 1971 , ~.wt w.. "-. .__._._-"-,~._....... 3.50% 4.{)0% . ;p.tUfi 8d4ii;:to:nn"L .:l.I1~t e;t ,... .hlte. . of 2. 001 'P. ~. ~1l"1 On ~. "h ixlIld ~ June 1 1961 1.;Q March i:;r 62 to 1:Ie ~'4v ~pa.i"""'and &;r~1E> "n';--~~4 hid ~:n be WiI4 ia M>l-el1;y aecel'lied, and. ~ ~ __ V~ Clerk Qire bl;trob:r .P;~ i_ ~t'th -00 flnCWrsa nucham:;CFGIIl!JClS' on E:, copy oj' :.-.;lit lrid ood l'et:um. tlAe I$8!IIC to l;a.id b~. ~ $cod l&i~ e~ ~.'ay 'tbIil ~ ~ boil ~~ ~ a.~ll"1PM7 of 1:~ ~'l Cld }~ ~ tbe i'U1l. ~ ~ ~f, _ tba ~ sbaU f~ltll ~ ~ Meeks 01: ~ 1):lil;:in;i;'$. '!'he l1l()t;:l.m tQl:'tbe 00$1.1";:1..,. ot 'thi!t i'~:l1:lg l."'el)<;>.l.n:l:if-. ll'OO ~ ,". '-':"'-"'"( ~ded 11:f Trustee 0lmen, _........,.~-~...~--,..........--.-.....~--....-...- tmO. up:lI'I' ~ lX!~ taken ~, 1lbe All :!'O:LJ..~ v.~ in t~ lllWroof': -. t1w: 1'o:u.~ VP'tod ~ tho ~: None . ~ Iltlid ~:~~"f" ftll dbe~ ~ ~-..pte4. rJ:uste~_.lS.ltM,~.y...___...___. tl:lfm ~ 1;00 t~ t'C&()oo lut iQtl. !l.nd. l1lQVed its atJop\lu.: RJ1JOOLtltIOIC~ ~ ~ :omro .5:tmmll :MIll, ~ 1'm: ~ OF C~ lMIi'.ilOV'l1~ :oomltl > AnD &S'L'A"nLtB~ 'm8 .~ lI.W' ~ OF SEPJJll"l A 01' r.tJC'R ~ IN '!'BE J\p1O{m (JJ:" ~13i')C'w m 1'J! ~ lly tba ~:1l. O't tlvtVil'l. ('It.~ lUUa, ~a*, ~ i'tillCll$: ..e~ . . J.. ~ "11..\$Igebw;, tv X'Q$01utiWll.~ Qy tl1:W COIltOU al ~ 00. l~ -. l\;ptU 25. J900. ~ tile c~ o.t local u.- ~ _~ $.I ~ ~'O.~llllOD. 66-1 -. 60-2, ~- t1'V'l!lJ.:y, ~ to.8a'l '-P~~ 'iil'iilh tbe ~ €)f. ~6Ot& ~tl, ~.$' I~). ~tJm ~ W:ver/,;1Sed tl:lr b:l,4,$$l4 ~red 1PtO e~ ~:f'0Ji' 1'.1)4 ~ . ~101l ~,$l4 b&'l by :t'$$O- lut:t.cal ~ Augu.'lt 99, 1960, ~ 1;0 ~ Uj)Oa **-fOil! _ X'04,U'1red bllBlr. ~:l0l1 8pG\l!&l 8flM$~ ~ ~t"f:.1~G ~ ~t1ted b1 said 1l'i:\Pl.~s ~ tbe ~ P1"1M1.l*l ~ o.t $4O,91f3.331, fCl" 1lI:iG ~ of the cOllt o.t. Ileid ~, ~ 1!lI:le&13~ :QIWO. ~ <lu1y ce1'W'1od to _ ~ Auditor ..m $l'l'! ~ ;In tltlr1 ~ ~V'>1 ~- ~ to 1lit e#M'-dl.lp3n tbe tAX 1"9Ull o.t the ~ 1960.~ 196'), p. (,lolJ.ee'ted .:/.n tbe ~ive ~ .'f'lJC'$. rttu ~~e.t al ~ Qa~ 1lI"'le ~ f'rQll.t:f.w to UtTle ~ld at tbe ~ o.t five :per. ~ (510) per _. All o.t ea:ld lIj.)$Oial ~~s ~ore .coUeoted ~ ~ ~ :!.a llli\il!i~t o.t COllItll o.t said ~'QV~, _ 1t W DOlrl' ~allr.t'y to 'bc:1r:tW tbe ll\I:1.o.t $31,000 ~ tbe ~ o.t ~1tli ~ of ~~, ill emi.e1patia; of 'bbe ~€)f tbe ~in1~ flPIl'(:1.:L U~t!l. .ncods in t.l:Us tn...~ bue bien -"V$'rt:1.l'led.G:ld $Old. at pUbJ.:let'lllJ4, I!lJ'Jl are ~b1 8Ilthclrim<tdtllOd ~ 1;0 be iaSll4ld ~ delivered to the. ~ I'll fIt:- ~ n'th the ~-t. o.t c;e.,l.e I,!nd the ~ ~:1anll oJ: 'tb.1$ ~ l.ul:.k'ln. . a. ~ 18 ~~. alld tbIn'e a?all be ~ 113 tJl.e V~1i> ~ (8l tM Qff:1cla."\. l.lOdlts. and. ~ o.t the. V~. GO J.cq ~ erw o.t t.be ~ ~:!.a t!llv.~1~-.a Cl" olilIfaT ~ ~ b(md$ -..u bit~, Q ~ ~ ~!&l &1lbt~1Ol:l. tuAd to be qss.~ ae tile "S~ ~~ ~ $i"ltIJ'lIlt ~". k ~ I'll 1l4i.d. ~ ~ be beld SII.d 1,1.~1. CI1ly 1'W tba ~ o.t tbe ~1PliJ. .. ~t al _ ~ ~:l.n ~1li1ed cd. al _ ~. ~~ :m 1'Ut,ure 1;0 ~e ~ ~ iIUlti~ ~ 1;,:; .aaid ~ l~ MIl aei#o ~.i ~ Cld ,~~, liItl .llUCh ~# becaae dUe, Qr to '['!e."" m!d ~ I'lUd.l bl:Iodss 'II'heD and Q/.l ~ ~v~ 04'e~ ~~ tQ theh- ~. ~ lIi1d t)L':lzlC::l.pa1, it 1Jri{f, bec~ dUl\l (:In ~ ba.1ds prior to tM c~fltiOl1 and ~ of f;.b,e, CQGt of: i;;.~ ~ for wb1ch thi':y ~ islmtld ~ be pIUd ~ tbe t;nD:lsfer ot ~ ~ tbe t'UrJd of ~h ~ to llUid S1rll'1ug PuI:ld. A;f'ter ~ of 'tM cost of l!Jt13 swb .'O~, tlJe i"l:lod ~ t$l!lll bed:l.J3~~ mi au $Ub~ c~:!.clM o.f ~s etIl a&ses~$ J.tW1ed 1U ~~ tbllU'eOt alm.U 'be );e1d 00 received :i.nt.O said. $~nld!'lg 1l:D:L . f'\ultli; at st:till :1m- ~e NQ. 60-1. ou1 No. Qo..:2 l/lre hareb:r ~i""1@<i., a;M. fill. ~~"i~ 13peei&\ ~~f.l coU~~ fer sa1ft ~~t.e .a;te ~ ~ 'to a&d S:t,!!Jt",,€ li\lpd. 3. . ~ ~ e()'lf!!>l'\~'" and ~ tblI;t 11' ... of lNIili spoo:l.al M:wt~ ~ tlhOlud be ~ $1;1 t~ brald. 1im\11d.. fJ.Qe W ., fl1"1'Ol:, <W'eet or ~~t'1 m I1I#J' l!IGtiOn or ~ ~ or to be ~ ;I,n tbl: ~1t.,~ ~ or in the ~e o.t IllliY iXIlld1~ ~ ~, ~ V~ wid t.h1u ~1l vUl ~t4 doll.U lNIili ~ ~ .lllld take Qll I'll1tlh ~ ~ fWl l1Jq be ~ by l$f W -- ~ u,'l$iSl!;$:lOOta va1;I.d fIl:li!.. ~ liens \q)Qll. the J}l.'Qt=t>t;j <m ~\ 1;ba. lI8llIi ~ 1JrilaiO.~' It u; ~~ ~ eaid S,Pee:!.l;ll. .~1lLmeJ':ltt'l1l1ll be reee;i.ved in 'tl>> ~ _ in ..~ .6\:l.o.~~ 'to ~. 11''- ~ tia.'lJ,y ~ tl1rlQ N.'Ye per <<StI; (;rp) in. ~:.ll:l$CIl at tbf! .~.1<yJ pl;':1nCipll'" ~1; ~ ~ on ~ ~.~ fIlltillOri.. ~,UP ~ is levied:tn ~ reeOlu'.;ia:l. ffJ):' t.he ~ ot ~~. ~. the fuU faith ~ ~t .ot the V~ :l.l'l .~ tor ~ ~ fI$'l fUll ~ 0'1.' aU. ]JrinOi:pe.l m'}(j ~~nt 'Wbelil due On &a:O'[ I;iO:'J(l.s IJl.1d on a.U ~t;l.ooaJ. baillia ~"l;@ '1",1,. ~Wil(!: ~ $u:W. ~1nl~i~ F'Clilli. -. :U: m. ~ 1;_ 'tM n~ in ~ 1'l.1Pd .~ be 1nmUf1'ie~ ~or, tl1e Coutl- e11 sl.l&U ~ eufi'1c1t!nt ~ for ~ ~ ~ aP.7 ot!:lifIr :t'Ul:ld& :In the ~ ot tI:ltll vm~. .auch ~ tJ1IlIIV ~ ~~.f\"oll the :J;lI."O-- ceed!J Of ~~ ~$ $ld ~e ~,*,;I.sbed to the. S'lN\;1~ i'lIJld, ~. ~3- . ~~, f!Q<< tbsl Vi11. $l>>lU ~ lid ~ll ~s ~ tll ~ oble ~rt;y >r.ltl:l;l.A 111.a ll;OI'iOi_ l.3.la:l.tc to f!1l1J/ ~ ~ ll1lIIlY be J'$o. ~ to ~ .. Clsfic:ten.cy in liItd.d .1\ltn, whi.Qh ~_ be .. m~ J..Ul.:i;!lat1(11 au to ~ Qt' ~. 4. .. ti'l't. ~ ~ li!l)d~ll ~ F1dJ' to tl:le ~ of _ ~t.~ l>Oi:lW.l ~ :ma Gs.i4 a1~1<..~ ~<, ;~ v.ru ~Qd4.it~ ad ~ ~ upcn ..u. ~ ...~l~ ~ tor the ~B allIi:l.ol. ~.~, ~ nth. ~ ~~ 0'1: ~ a.coelllm\e'.lltll ~ :f'Q3.' fJ).e .~~ o:r ~~> to ~ .NllIl fiw ~ c41lUl;. (5'$0) .h\ ~Q <4 tlte ~i~ II.iIIlI1 in'telrest ......""'11y btrt,lQll,oo _ &Ie Q!I. &l.l ~ ~ :t\Ua Il$l.d $"~t>$ :nm, :In ~" with ~ $i;.tIU:t:Kll~. seetiOO. 41';.61, Said J.qri.en shrill. b<> ~ aD 1.~ sa IlIW of awh ~ ~ ~a+~"\"~_~. ~ t.hat tbc vu- .~ reOOrVl,lr$ the. x'~ IIIld ~ to ~ "'~ lUiI8 .trQB ~ to ,.... ;In the ~r _ suPJeot to ~ 0Q:II11~ Iil'tated in $lid ~ 415.61. 5. $'(r t):)rJ ~ ot p,,~dns. tb3 ~0lJt (d fl;d.d j.~, .~ :I.n $l'i;,id~ o:r the oo~1Q!I.o:r ~ ~pee:1al.~~a. t;be vm~ .U f<::ribll'i:tll. illl$"..w1tz ~:i.Ubl.e ...111 oo;'l.:l$tiall,)ca1& 1.0 be dl:;H~ lI$ s~ ~ l3!:uW, ~ I., in tbe ~~ pr'.Lrtcl:pal ~ at $37,()OC. ~ ~1 of ~;1, 1941. So.:i.d. ~ flllI:l.U be 3'( ill; .,.,~ and ~r<:ld ~ 1. '00 37.. .~lWJi'le, ea,-m ;\in tbe ~..~,. 1;~ at: ;!;.l,tXX), .118ld. sbaU. ~~iaU;y 00 .~ :/. :I.n ~ ~ <'it $2.000 . in 196,~" $3,000 ;In e<<1b of ~ ~"'P 1963 ~ 1.967 d ~,<XK.i :in fJIllQl\ of t.lJ.o ~ l~ ~ 1971'. noocw. ~l .~ 17 ~ be P!ilf- a~l~ ~. ~il' ZV$p!ctive ~ ~t1 ~a w1~ cr.;.tioo (d FiOr 1ll3;f'. :~, \mt tbQ..qe ~w.l1J ~ 37 tlb.sU be.~ sUbjOOi; to t-e~f;ll,ptdon WIil. P1~'n'l; .m:, tbe. Ol.'t~ of t.M V~1il 00 ~ 1." ].,966, ana. I!J1JS :1n--. i;erocrt ~ &I;te ~> l',l$ ~ 8IlA ~ ~,; I~"'" of' tliii;l ~e ~ at .~. t.i;1t'l Otttist$Vlll"\ig" ~~ ~ tbe ~$'l; c~ ~ ebli.1.l be ~ :f1t'trl.;, 1... .~ ~ Of t.l:lI!l;1;t' ,.~ l,'IIIIlo- 1:le1's. Not lc$il thm tW.rtY dArs ~ to tlJa ~ ~:l.:f1Otl. iqc ~icll r4 <<qr. Of oaid bomn t!le ~ .~ -.u .u not~ of t.N! ~ ~ to w btdt at 1Ibich F:1no1pe.l and. :i.nt:l~ .~ ti:lIiln '!,~ -. to tbl:l 1lQJ.dDr~, U ~ <:X e&eh balii. to be ~> .!P1 (l<l1d ~ cl:1$U me.:lnt.oJn Ii reeat'd Qf t.'bti ~$ _ ~I'lMfl ()i" t.b.I? bQlc~ at PN- ~lle ~ of.ao.:l.d 1s.oue. SQ.~ a$ ~ int~:l.a1 111 ~ ....'1w.1e to h:!::l, i'Ol:' the ~',PClIiIIII of r~H .~ Said noti9$~. b ~ Of said :i.OGW ~ the :""<:l(\~VIe aer;t$J. ~z .~. ~ in the ~~ive.~ iIlErC forth~, .(>ball ,... ~s:l; at i;;he """'W1 rtJ.tiel.'l oet ~ ~ite I.'llUd _w:i:1:q ;}~0l:1il, aer:i&1.. ~'rQ. !.~\lti\y.~~ ~~~ ~.~ 196;) - 1967 1968 ~ 1971 1 ~ 17 3.50% 18 - 37 s 4.00% .. ~h of ~ ~$l:laU be~ il:l;~l;t a;l; the SlUl.:1..t:l.OlUlI. t"tl,wot 2.00'/:. per ~:t\~ June 1. .' _, 1961 t.o March 1 . .191,6~. W ~ ev~ b:i Ii> ~ r;et o;r ~ c:~ <'WI:l:l6lili.ted... 'll ~. ~.oJ1 A.id bal&l (;lUll be ~ ~ 1, 1%1, _ ~~qn,!~ld~lot:~y<Jf!I;f!. 1loth ~:l.pnJ. tl1J11:l.tlterest tJbD.U 00 ~ ~ j;r.~ !\jl1~:t'~,,~() \.'l<i;l:lona1 '3anf; S.f..J_~!Di...E~.!1!.~ ..__..__~___i' 1.U ..s:t..._l?.s.u.l",," /Ii n a"f;ot ;l.J ~ 1;bO. V~ ~W ~0 1;.:) l~ 1;JlIiil r$Wl~'11il wa c~ ~ll ot ~ ~ ~1'or tbe ~i))\; and ~~. 6. ~ ~t bOUrl!J _ tllll ~ ~~ t;l:w1:'e't<l nbnll be 1nnub~1!J.ny tJl,e fbU~ f~: ..4-. . UHrJ.'ED lIJ)~r (t!f A"lW'J/.:i; ~~.::; OJ! ','0:D:ta:ri1.l\. CWn'l (j; ~ ~ (if A.."liiiB mr.t~ tr..'.Ie.JD'l nf!!~ l.JOUf) r~! Ut),~ -.'"'""...... $.1,000 . ~ l!.UI1Q! f1l. ~ .l"::~ ~ . Vt'l.:1-~ Qf' ~~,. a ~-4' ~'~ ~~l* COt'l()>;'l;ll:@ 01' ~ ~j ~1Q,tl.")~" ~.. ~,! ::\:~ 'llQ.~. ~.!!\t ~:l.~ ~w~1~ ~ t<ll'IV t;Q hc~ ~ .l'Jl;f~ crr OHm :a~ ~\i;1C Ql1. '!:.be .:1$ .~. oJ: ~~, 19........., ar, ll' ~f.r bc.U1 iJl ~~ <l;Z (r~'. bW.<.ar.. CA. a ~ ..,...c~ ~ ~ =;~~ =: :rn ~\lY ,:1~ _l~wt~~:. .:;; :J1 "~~ ~l ~.) .~ d..~ ~r ~t ~ .<1Jt _11.tl\1" bQllt'l;, 1.f ~I b04 ~ clul.:1' G~ 1'Qr ~~1l)\> .~i1l)Il ~1::l..O!:lW. ~ ~ ~ ~ c;t~;l. 1llU.~l It,, ta) ~ (#. ......... COli$ (_J) J;lItr ~; t'rIxI. ----:-.--.,~ .' ,J '\1 t:;-~-~~- -.- . . 19 .' ~1 ~ :l.t1~to.~ 1.. l'%l,~. ~~~~.~.. .~ Ql ~ !at tiltw. <<f ~ .tl'l1d tic lat ~ of ne~~ in ~ ~.~ ~ '1;0. ,~lW 00':LUe1.~~ ~ ~ 1l1tt.l 0l1I1 .~~~~ ts.m _ ~~<< ~ ~ ()~ ~ ~~"l.1tO> ~~~ r::tf ~ :~ eft G~'l ~1l.Ie 4~ .~ ~ ('It :U;~ t~ ~tu ~ '* bM1.e ~ ~~. ~,!1. ~ ~Wil{;~.ll1! ".a" ~ ~, ~~.~ a.t. ~ltl etM.;t"tlwat ~ ~i:t:r4. ~. l;t!d~ ~ ~'b';l,~, .Bot.~ ~i:1.:J&1 $'ld ~~ (Om~1;; ~ . --':~~::'-~-'-;"-:Gr.~ 005i~~. .<:l~~ 1$1:&. tkf;~~ tiI. ~ ~. <m t~ )''e~et:i'Nl ~ <:1Y ~. .:I;.g ~ ~ ~ 11t':1Y~ lV.'ld ~\t('~~, ..~ ~~ ~ p i\11j, .~~ .qt. ~ ~~ - ~.. em. Q$ ~ ;.1~ ~ _. W iw;J. ff.l,.1.tb, c.~t_ t~ ~ Q;f't.!le V~" ~ ~ ;i~~ Z~lQ!i~~. ~ 1lW(t 1, ~t;t;i.' ~ ~.~ 1il.. ~ ~~r\l";J.~ ~. a: $;U,(Xx;l,l\ll 01 11llie.~ ctn'-'l, ~ ~ $ to ~1a1. mr.~.) ~1Yt _~> ~urlt.1 am. ~~:ta1 ~"1v1~., ~~.tQ-t tha ~~IO. ot .~ ~~;Jrl ;).,-:1(.!'\tr"i'\ld JJ:l tbl) ~'til:tl. crt i.~O .~.~Od .. SI,L.,t ~~, tl'o.. {Jo,..l_ 1{G. 00..2. <li: ~. V~ ~ ~ m:u.... :i$ :!.<1!tUl'Jd .~. to. _ ;l;;l ;f\J.ll Q(~~4tY v.Lth rQt>>t~ .~. ~ 'i3If tun V~, ~'l. e..~ ~ _.~~. ~ ~ ~~""'~ to l!lJld .~ ~.al ~~1~ ,t1~ ~ ~~ ~ ~Oi' ~ $'~. frl ~ ~~ ~;u.~~ ;',.nc;1.~ ~~~Of.;a~? ~ hgJ, ~. ~ ~%~~1" J?~~ ~ .t1.l$. ~lt ~ ~ t\Mi!::Ulg; ~; Q<f b vm~i j,1Ul; ~ ~1l :i,a l:~ ~ ~ i2lII: ~~ ~'t ~ ~'f.>l' OQt .oj' ~. 1\lll& ;!,r; 'tb$.~ ~ 1lllie ~ _ ~y~ iJl1 1al.1d in ,~te, S'>".,ii. ~ v.tq ta ~:1c~ tor~ ~ .~ Of: ~ p;tiQ<~;l.:(?Al ~1 :tntt.'1"4R. l:>>~14e .~ ~to~(; ~~. aw:Ul.l ~,. 1 ti~ r( t~ ~ j~ .~ ;;~ lD62 ~ liJ&() ..~ ~ lI:Z ~it" ~~~ ~1 r.lQt!:t!":~~ ~'s.1;i1ll~ ~1QI.\.'O%F;l.~ ;.~,l~ .~t1 ~ 1~1l.U ~l!i~!; 1;) t}j:;~ :IT (~~ 1n tl)e.~ 'If.J6S ~~ ;!.)T-t) ~. q~ mW,')~~ to ~r:tsYb1,C>'> aud l,'X1."n~j';~(; ttI; t,1~' aptJ.m ctt 't.lll:l v;~ .ctl. .~ 1 .1,\<"1\ ",,-" ""..,r '''1:~_.'''' ,,,,,,,,~."'" i''''''n "",._~4",,~ ...... ,-,. 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