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<br />1990-l99l <br />1992 <br />1993 <br />1994 <br />-1995 <br />1996 <br />1997 <br />1998 <br />1999 <br />2000 <br />200l <br />2002 <br />2003 <br />2004 <br />2005 <br />2006 <br /> <br />$l50,000 <br />250,000 <br />325,000 <br />340,000 <br />365,000 <br />395,000 <br />425,000 <br />475,000 <br />5l0,000 <br />555,000 <br />605,000 <br />655,000 <br />710,000 <br />770,000 <br />840,000 <br />900,000 <br /> <br />3. For the purposes of complying with Minnesota <br />Statutes, Section 475.54, Subdivision l, the maturity schedule <br />for the Bonds has been combined with the maturity schedule for <br />the City's outstanding $ 2,885,000 General Obligation Imp. <br />Bonds, Series l2, dated November l, 1985, as pennitted by <br />Minnesota Statutes, Section 475.54, Subdivision 2. <br /> <br />4. The Bonds shall provide funds to finance the <br />Project. Tax increments derived from the Tax Increment <br />Districts are herein pledged to the payment of the Bonds and <br />any other tax increment bonds issued to complete, modify or <br />expand the Project. It is not anticipated that any net <br />proceeds from the Project will be available for the payment of <br />debt service on the Bonds. Toe total cost of the Project, <br />which shall include all costs enumerated in Minnesota Statutes, <br />Section 475.65, is estimated to be at least equal to the amount <br />of the Bonds herein authorized. Work on the Project shall <br />proceed with due diligence to completion. <br /> <br />5. The Bonds shall bear interest payable semi- <br />annually on February 1 and AU9ust 1 of each year commencing <br />August 1, 1986 at the respect~ve rates per annum set forth <br />opposite the maturity years as follows: <br /> <br />3 <br />