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and the following voted against the same: None whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor, which was attested by the Clerk. Member Shields then introduced the following resolution and moved its adoption: RESOLUTION NO. 1855 RESOLUTION AUTHORIZING THE ISSUANCE OF $900,000 GENERAL IMPROVEMENT BONDS, SERIES 3 BE IT RESOLVED by the Village Council of the Village of Roseville, Minne- sota, as follows: 1. The total cost of the improvements financed in whole or in part from the proceeds of the Temporary Improvement Bonds, Series 2, dated August 1, 1965, has been fully paid and the amount of moneys remaining on hand in the respective improve- ment funds has been determined and has been transferred to the Series 2 Temporary Improvement Bond Fund in accordance with paragraph 5 of Resolution No. 1267, estab- lishing the form and terms of said bonds, dated July 12, 1965. The amount so trans- ferred is sufficient for the payment of $100,000 principal amount of said bonds and of all interest due and to become due on said bonds August 1, 1967. It is hereby determined to be necessary for the Village to issue its definitive General Improve- ment Bonds, Series 3 in the principal amount of $900,000, for the purpose of defray- ing all expenses incurred by the Village in completing Water Improvement No. 64-7, Project 1, Storm Sewer Improvement No. 65-7, Sanitary Sewer Improvement No.5, and Street Improvements Nos. 64-1, 64-3, 65-25 and 65-26, except such as have heretofore been paid; including payment and retirement of the Temporary Improvement Bonds, Series 2 at their maturity on August 1, 1967. Said Series 3 bonds have been duly advertised and sold in accordance with a resolution adopted this date, and shall now be issued and secured in accordance with the provisions of the contract of sale and of Minnesota Statutes, Chapters 429 and 475, and of the resolution adopted July 1. 1963, entitled "RESOLUTION ESTABLISHING A SINKING Fm~D FOR THE PAYMENT OF GENERAL IMPROVEMENT BONDS AND APPROPRIATING TO THAT FUND TAXES AND SPECIAL ASSESSMENTS LEVIED FOR IMPROVEMENTS FINANCED BY SUCH BONDS", which is by reference incorporated herein and made a part hereof, and in accordance with the further provisions of this resolution. 2. Said general improvement bonds shall be in the total principal amount of $900,000. shall be designated General Improvement Bonds, Series 3, shall be dated July 1. 1967, shall be 180 in number and numbered from 1 through 180, each in the denomination of $ 5,00p shall mature serially on July 1 in the years and amounts set forth below, and shall bear interest from date of issue until paid or until duly called for redemption at the annual rates set forth opposite such years and amounts, respectively: -4-