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<br />L ....' <br />~ 1 <br /> ... .. <br /> RESOLUTION #326 <br /> Extract of Minutes of Meeting of the <br /> Village Council of the Village of New BrightonJ <br /> Ramsey CountYJ Minnesota <br /> Pursuant to due call and notice thereofJ a regular <br />meeting of the Village Council of the Village of New BrightonJ <br />Minnesota, was duly held at the Village Hall in said village on <br />Tuesday, the 13th day of December, 1966 at 8:00 o'clock P.M. <br /> The following members were present: <br />Anderson, Andersen, Hipp, Jeffers, Nabozney <br />and the fOllowing were absent: <br /> None <br /> * * * * * * * * * <br /> Trustee Andersen introduced the following <br />resolution and moved its adoption: <br /> RESOLUTION TO ISSUE AND SELL $263,000 <br /> IMPROVEMENT BONDS OF 1967 <br /> BE IT RESOLVED by the Village Council of the Village of <br />New Brighton, Minnesota, as follows: <br /> 1. The Village Council hereby finds that Village Improve- <br />ment 63-11, commonly known as the Oakwood Manor street improvement, <br />has been duly authorized and completed pursuant to Minnesota Stat- <br />utes, Ch. 429, that special assessments for the benefits conferred <br />thereby were duly and validly levied on July 28, 1964 and that <br />$263,408 in principal amount of said assessments are outstanding <br />and unpaid and the remaining installments thereof will be due and <br />payable in the years 1967 to 1979, both inclusive; and hereby <br />deems it necessary and expedient to issue and sell $263,000 general <br />obligation negotiable coupon Improvement Bonds of 1967 to provide <br />permanent financing for Improvement No. 63-11 and refund a like <br />amount of unpaid Temporary Improvement Bonds of 1963 purchased and <br />held by the Village, said Bonds to be dated February 1, 1967, to <br />bear interest payable August 1, 1967 and semiannually thereafter on <br />February 1 and August 1 in each year at the rate or rates designated <br />by the successful bidder, and to mature serially on February 1 in <br />the years and amounts as follows: <br /> $13,000 in 1968, <br />20,000 in 1969 to 1978, and <br />25JOOO in 1979 to 1980, all years inclusive, <br />all bonds maturing in the years 1979 and 1980, both inclusive, to be <br />subject to redemption at the option of the Village and in inverse <br />numerical order on February 1, 1978 and any interest payment date <br />thereafter at par and accrued interest. Both principal and interest <br />shall be payable at any suitable bank designated by the purchaser <br />within 48 hours after the award of sale of the bonds, and except as <br />