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<br />. <br /> <br />VILLAGE OF CENTERVILLE <br />Anoia County * P. O. Hugo, Minnesota <br /> <br />RESOLUTION 76-10 <br />RESOLUTION MAKING TAX LEVY <br /> <br />WHEREAS, by a resolution dated May 12, 1976, the City <br />Council of Centerville, has authorized the issuance of certificates <br />of indebtedness for the purchase of fire equipment in the amount <br />of $30,000.00 and by resolution adopted May 12, 1976, the Council <br />has awarded the certificates to the First State Bank of Hugo; <br />AND WHEREAS, M.S.A. Sec. 475.61 requires the council of any <br />municipality issuing obligations to levy by resolution prior to <br />delivery of the obligations a general tax for the payment when due <br />of the principal and interest on'the obligations, <br />BE IT RESOLVED BY THE CITY COUNCIL OF CENTERVILLE, MINNESOTA: <br />1) There is hereby created a sinking fund which shall be <br />used only for paying principal and interest on the fire equipment <br />certifica~es of indebtedness issued by the Council pursuant to <br />resolution dated May 12, 1976, to finance the purchase of certain <br />fire equipment. Into this fund shall be paid all receipts from the <br />taxes levied in this resolution and any other money appropriated to <br />the fund from any other source. If any principal or interest on <br />the certificates becomes .due when there is ~ot sufficient money <br />in the fund to pay it, the city treasurer shall make up. the deficit <br />from the general fund of the City and the general fund shall be <br />reimbursed for such advances from the proceeds of the taxes levied <br />in this resolution. <br />2) There is hereby levied upon all the taxable property in <br />the City a direct, annual, irrepealable, ad valorem tax which shall <br />