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<br />The City hereby covenants and agrees that it will let all
<br />construction contracts not heretofore let within one (1) year
<br />after ordering each Improvement financed hereunder unless the
<br />resolution ordering the Improvement specifies a different time
<br />limit for the letting of construction contracts. The City
<br />hereby further covenants and agrees that it will do and
<br />perform as soon as they may be done, all acts and things
<br />necessary for the final and valid levy of such special
<br />assessments, and in the event that any such assessment be at
<br />any time held invalid with respect to any lot, piece or parcel
<br />of land due to any error, defect, or irregularity in any
<br />action or proceedings taken or to be taken by the City or the
<br />City Councilor any of the City officers or employees, either
<br />in the making of the assessments or in the performance of any
<br />condition precedent thereto, the City and the City Council
<br />will forthwith do all further acts and take all further
<br />proceedings as may be required by law to make the assessments
<br />a valid and binding lien upon such property. The special
<br />assessments for Projects 83-06, 85-06, 85-20B, 85-21, 86-0l,
<br />86-14, 86-l5, 86-16, 86-20, 86-30, 86-34, 86-35, 87-01, 87-04,
<br />and 87-06 have not heretofore been authorized, and accord-
<br />ingly, for purposes of Minnesota Statutes, Section 475.55,
<br />Subdivision 3, the special assessments are hereby authorized,
<br />except for the assessments for Projects 82-15, 83-20, 84-03,
<br />85-03, 85-14, 85-20A, 85-22, 85-23, 85-32, 86-06 and 86-l9,
<br />which were previously authorized. The special assessments
<br />previously authorized have heretofore been levied and are
<br />payable in equal, consecutive, annual installments, with
<br />general taxes for the years shown below and with interest on
<br />the declining balance of all such assessments at a rate per
<br />annum not less than 8.95% per annum:
<br />
<br />Improvement
<br />Designation
<br />
<br />Amount
<br />
<br />Levy Years
<br />
<br />Collection
<br />Years
<br />
<br />TOTAL
<br />
<br />$ 43,170
<br />14,l32
<br />4,660
<br />12,037
<br />46,093
<br />196,180
<br />15,823
<br />ll,925
<br />19,004
<br />28,289
<br />117,279
<br />
<br />$508,597
<br />
<br />1987-2001
<br />for all
<br />
<br />1988-2002
<br />for all
<br />
<br />82-15
<br />83-20
<br />84-03
<br />85-03
<br />85-14
<br />85-20A
<br />85-22
<br />85-23
<br />85-32
<br />86-06
<br />86-19
<br />
<br />37
<br />
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