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for the final and valid levy of special assessments upon properties benefited there- by, in amounts proportionate to and not exceeding the special benefits derived by the respective properties from the improvement, and in an aggregate amount not less than 20% of the cost of the improvement, and not less than that amount which, with interest thereon and taxes theretofore levied for the Water Improvement Bond Sinking Fund, is required by the provisions of Minnesota Statutes, Section 475.61; that if any assessments shall at any time be held invalid, due to any error, defect, irregu- larity or omission respecting any action or proceeding taken or required to be taken by the Village or the Councilor any officer or employee, either in the making of the assessment or in the performance of any condition precedent thereto, the Village and the Council will forthwith do all such further acts and take all such further proceedings as may be required by law to make the assessment a valid and binding lien upon the property against which it is levied. Such assessments shall be pay- able in such number of equal, consecutive annual installments, with interest at such rate on the balance from time to time unpaid, as shall be determined by the Council by resolution. To the first installment shall be added interest on the en- tire assessment from the date of the resolution levying the same to December 31 of the year in which the first installment is payable, and to each subsequent install- ment shall be added interest for one year on that and all other unpaid installments. 5. The Clerk is directed to file a certified copy of this resolution with the County Auditor of Ramsey County, and to request the County Auditor to place the same on file with subsequent resolutions authorizing the issuance of bonds payable from the Water Improvement Bond Sinking Fund. Passed November 7, 1962. Attest: ~ U "-~ ~/ld ;l~ Mayor -' . Village Clerk The motion for the adoption of the foregoing resolution was duly seconded by J:e1l.S1""e. ~.5~/?1A'VI.4nd upon vote being taken thereon, the following voted in favor thereof: /lJAYIJ/' /7JC(lee,~J~e..s aodc/R/C~ ~ f;(_..s7~/77/'9/r/Y -"'9//1' cl .SCh r R // ,Ie,.. and the following voted against the same: /yO /1/ -"2...- whereupon the resolution was declared duly passed and adopted. The Clerk then presented affidavits showing publication, as directed by the resolution dated October 8, 1962, of notice of sale of $1,000,000 Water Improve- ment Bonds, Series 1, which were examined and found satisfactory and directed to be -3-