|
<br />EXTRACT OF }UNUTES OF MEETING OF VILLAGE
<br />COUNCIL, VILLAGE OF ROSEVILLE, HELD APRIL 5, 1960
<br />
<br />Pursuant to due call and notice thereof, a regular meeting of the Village Council
<br />of the Village of Rosevil:h} Minnesota, was duly held in the Village Hall in said
<br />Village on the 5th day of April, 1960, at 2:00 P.M.
<br />
<br />The following members were present: All, and the following members were absent: None
<br />
<br />Member Shields moved for the adoption of the following resolution:
<br />
<br />RESOLUTION #343 FOR THE ISSUANCE OF SA~ITARY SEWER
<br />IMPROVEMENT OONDS, SERIES G
<br />
<br />WHEREAS, contracts have been entered into for the improvement of Projects No.1,
<br />NO.2, No.3 and No.4 for Sanitary Sewer improvement purposes at contract prices of
<br />$107,970.25, $15,770, $251,457 and $217,697.50 and a contract has been entered ~nto
<br />for the improvement of Projects No.5 and No.6 at a combined contract price of $315,935.25,
<br />and other additional expenses have been or 'Wi 11 be incurred in connection with said
<br />Sanitary Sewer Improvement No.3, and,
<br />
<br />WHEREAS, additional projects for the ultimate completion of the contemplated
<br />Sanitary Sewer Improvement No. 3 will be established, bids requested and contracts
<br />let, and a portion thes90f will be specially assessed in an amount exceeding twenty
<br />percent of the total cost of said Sanitary Sewer Improvement No.3 against the
<br />property benefited thereby,
<br />
<br />NOlI/' THEREFORE BE IT RESOLVED BY THE village of Roseville, Minnesota
<br />1. The improvement hereinabove described shall be financed by the issuance of
<br />improvement bonds pledging the full faith and credit of the Village and shall hereafter
<br />be referred to as Sanitary Sewer Improvement No.3. A separate improvement fund is
<br />hereby established for such improvement which will be called S!'nitary Sewer Improvenent
<br />No. 3 fund. The proceeds from the sale of improvement bonds herein provided for and
<br />from the collections of special assessnents and taxes levied for the improvement and
<br />any other moneys appropriated thereto by the village shall be paid to such fund.
<br />
<br />2. Improvement bonds on the account of Sanitary Sewer Improvement No.3 shall
<br />be issued in the total amount of $1,000,000.00, said bonds to be 1,000 in number and
<br />numbered 1 to 1,000, both inclusive, and be in the denomination of $1,000 each and
<br />shall bear date of June 1, 1960 and shall bear interest at the rate or rates determined
<br />at the sale thereOf, payable, June 1, ]61, and semiannually thereafter on December 1
<br />and June 1 of each year, and shall mature serially on June 1 in the years and amounts
<br />as follows: $50,000 1962 through 1981. The bonds maturing in the years 1962 through
<br />1971 will not be subject to redemption prior to maturity, but the remaining bonds
<br />(1972-1981) will each be subject to redemption at the toption of the Village on June 1,
<br />1965, and any interest payment date thereafter, and at a price of par and accrued
<br />interest plus a premium of $20.00 for each bond prepaid on or before June 1, 1970,
<br />and 810.00 for each bond prepaid thereafter but on or ~ before June 1, 1975, after
<br />vmich date all remaining bonds will be prepayable without premium. Prepayment, if
<br />exercised, will be made in inverse order of serial numbers of the then outstanding
<br />prepayable bonds bearing the highest interest rate.
<br />
|