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<br />Extract of Hinutes of Neeting
<br />of Village Council
<br />Village of Roseville, Ramsey County, Minnesota
<br />September 27, 1960
<br />
<br />Pursuant to due call and notice thereof, a regular meeting of the Council
<br />of the Village of Roseville, Minnesota, was held at the Council hambers in the
<br />Village Hall in said Village on the 27th day of September, 1960, at 8:00 P.~.
<br />The following members were present: Cedarholm, Carlson, Flanagan & Shields.
<br />the follwoing members were absent: Trustee Keene
<br />Tr-qstee Carlson introduced the following resolution and moved its adoption.
<br />
<br />Resolution No. 381
<br />
<br />RESOLUTION FIXING TERNS AND DIRECTING EXECUTImr AND DELIVERY
<br />OF $1,000,000 SANITARY Sm~R IHPROVEHENT BONDS, SERIES H
<br />
<br />BE IT RESOLVED by the Council of the Village of Ros~rille, Minnesota as
<br />follows:
<br />
<br />L. lmder and persuant to the resolution adopted May 4, 1960, entitled
<br />"Resolution Authorizing the Issuance of Bonds to Finance Sanitary Sewer Improve-
<br />ment No. 3 and Establishing the Form and Terms of $1,000,000 Sanitary Sewer Im-
<br />provement Bonds, Series G", which resolution is hereby incorporated herein and by
<br />reference made a part hereof, the Village has heretofore issued, sold and delivered
<br />the Series G bonds therein authorized and described, and has now contracted for
<br />the issuance and sale of bonds in the additional amount of $1,000,000, to be
<br />designated as Sanitary Sewer Imprmrement Bonds, Series H, to prrnride the remaining
<br />funds estimated to be necessary for the completion of Sanitary Sewer Impr~rement
<br />No.3. The contract heretofore entered into for the sale of said bonds, pursuant
<br />~o advertisement for bids as required by law, is hereby appr~!ed, ratified and
<br />confirmed, and said bonds shall be ~orthwith issued and delivered to the purchaser
<br />thereof in accordance with said contract and with the provisions of the resolution.
<br />The bonds herein authorized shall be payable from the Village's Sanitary Sewer
<br />Improvement Bond Sinking Fund, created by resolution dated June 26, 1956, equally
<br />and ratably with the Sanitary Sewer Improvement Bonds of Series A through Series
<br />G which have heretofore been made payable from said fund, and shall be subject to
<br />all of the provisions and limitations and secured by all of the covenants con-
<br />tained in said resolutions of June 26, 1956 and of Hay 4, 1960.
<br />
<br />2. The Sanitary Sewer Improvement Bonds, Series H shall be 1,000 in num-
<br />ber and numbered from 1 to 1,000, inclusive, each in the denomination of ~$l, 000,
<br />all dated as of October 1, 1960, and shall mature serially in the amount of
<br />$50,000 on October 1 in each of the years 1961 through 1980. Bonds numbered 1
<br />through 500 shall be payable at their respective stated maturity dates without
<br />option of prior payment, but those numbered 501 through 1,000 shall be each sub-
<br />ject to redemption and prepayment at the option of the Village on October 1, 1965,
<br />and any interest payment date thereafter, in inverse order of their serial num-
<br />bers, and at a price of par and accrued interest plus a premium of ~20 for each
<br />bond prepaid on or before April 1, 1970, and without premium if prepaid on or
<br />after October 1, 1970. Not less than 30 days prior to the date specified for re-
<br />demption of any of said bonds the Village Treasurer shall mail notice of the call
<br />
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