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<br />Hesolution No. --1l. <br /> <br />Adopted Jan. 4, 1949 <br /> <br />\<JHEHEAS, additional fire equipment is needed for the fire Dept. of the <br />Village of Roseville, and <br />~~REAS, it is estimated that $15,000.00, in addition to that heretofore <br />appropriated, is the amount necessary for said purposes, and <br />WHEREAS, it is of the opinion of the Council that bonds in the Village of <br />Roseville, in an amount not exceeding ~i15,000.00 should be issured for the <br />purpose of obtaining cash for said purpose, and <br />WHEREAS, the question of the issuance of said bonds must be submitted to <br />the voters of the Village of Roseville: <br />NOW, THEREFORE, BE IT HESOLVED, that the Village of Hoseville sell <br />negotiable bonds of the Village of 11.oseville, in a sum not to exceed <br />:$15,000.00 for the purchase of fire equipment; <br />Resolved further, that the question of the issuance of said bonds be first <br />submitted to the voters of the Village of hoseville as is recuired by law; <br />BE IT FlJRTHc.R RESOLVED, that said bonds shall be'r the date of the first <br />day of the month in~ich they are sold; that such bonds be in the form of <br />serial bonds payable each year afler issuance, but none shall run for a <br />longer period than six (6) yea.rs after da~,e of issuance; that the Council <br />shall fis, by a subsequent resolution, tfue denominations and form of <br />such bonds and date of maturity thereof; such bnds shall bear interest <br />at not ~xceed 5% p~r annum, payable semi-annually; the full faith and credit <br />of the Village of Hoseville irrevocabl y pledged for the prompt and faithful <br />payment of both principal and interest of said bonds, <br />~E IT FURTHER F:ESOLVED, that the Council shall negotiate and sell said bonds <br />from time to time in such amounts as it sees fit in the manner provided <br />by law at not less than par and accrued interest to the highest bidder or <br />bidders, ~d the proceeds thereof, including any premiums realized thereon, <br />shall be Uredited to and placed in the fire equipment fund; provided, however <br />that the bonds authorized under the provisions of this resolution shall <br />not be issued or sold when such bonds, plus outstanding bonds of the Village <br />of Roseville, will exceed the authoriaed legal indebtedness of said Village. <br />The proper Village officers are hereby authorized, ordered and requires <br />to set aside annually from the revenues of the Village of Roseville sufficient <br />amounts to pay the interest on said bonds and the principal upon any such <br />bonds maturing in any such year, this provision being in addition to the <br />pledge of the general faith and credit of the Village of Roseville for <br />the payment of such bonds and is not in lieu thereof. <br /> <br />Mayor <br /> <br />Attest: <br /> <br />Clerk <br />