res_786 - Laserfiche WebLink

Home

Minnesota Statutes, Chapter 429. The bonds herein authorized are directed to be paid out of this fund on a parity as to beth principal and interest with those heretofore issued and made p~ble from said fund, and each and all of the provisions of said resolution of June 26, 1956, are hereby confirmed and declared to be covenants and agreements of the Village for the security of the bonds herein authorized. It is con- templated that the special assessments to be levied upon the area assessable with respect to Sanitary Sewer Improvement No. 4 will be in a principal amount not less than $ , and will be payable in 20 equal annual installments of principal with taxes levied in the years 1963 to 1982, inclusive, collectible in the respective suc- ceeding years, with interest at the rate of 5% per annum on the balance thereof from time to time unpaid. For the purpose of providing, with the est1mated collections of said special assessments and of taxes and special assessments and other funds hereto- fore appropriated to the Sanitary Sewer Improvement Bond Sinking Fund, annual sums for said fund not less than 5i in excess of the amounts required to meet each year when due the principal and interest p~ents on the bonds of this Series I and those now payable from that fund, ad valorem taxes are hereby levied upon all of the tax- able property within the corporate limits of the Village, to be spread upon the tax rolls of each of the years 1963 to 1982, inclusive, in the following respective amounts: ~ Amount ~ Amount 1963 1973 1964 1974 1965 1975 1966 1976 1967 1977 1968 1978 1969 1979 1970 1980 1971 1981 1972 1982 The proceeds of said tax levies are hereby appropriated to the Sanitary Sewer Im- provement Bond Sinking Fund, together with the special assessments collected for Sani tary Sewer Improvement No. 4 after that improvement is completed and the cost thereof paid. The full faith and credit of the Village is pledged for the prompt and full payment of the principal of and interest on the bonds of this Series I, . and the Village covenants and agrees with the holders thereof that it will do all acts and things required for the levy and collection of said special assessments and taxes. 5. The Village Clerk is hereby authorized and directed to file a certi- fied copy of this resolution with the County Auditor of Ramsey County, together with such other information as he shall require, and to obtain from said County Auditor a certificate that said bonds have been entered on his bond register. 6. The officers of the Village and the County Auditor of Ramsey County are hereby authorized and directed to prepare and furnish to the purchaser of the bonds and to the attorneys approving the legality of the issuance thereof certified -J.6-