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<br />the sum shown hereon for the installment of interest then due
<br />on its Temporary Improvement Bond of 1966, dated June 1, 1966,
<br />No. .
<br /> Mayor
<br /> Village Manager
<br /> 5. The Village Manager is directed to cause said bonds
<br />to be prepared and the Mayor and Village Manager are authorized
<br />and directed to execute the same and affix the village seal thereto
<br />and to cause the interest coupons to be executed by the signatures
<br />of said officers. Upon receipt of the legal opinion and payment
<br />for the bonds, the Treasurer and Clerk shall deliver the bonds to
<br />the purchaser and the purchaser shall not be obligated to see to
<br />the proper application of the purchase price.
<br /> 6. There is hereby created a special fund, to be known
<br />as Temporary Improvement Bonds of 1966 Fund, which shall be held
<br />and used by the Treasurer for no other purpose than to pay prin-
<br />cipal and interest on said bonds; and there shall be credited to
<br />said fund the proceeds from assessments and taxes collected for
<br />the pa~ment of Improvements Nos. 66-1, 66-2, 66-4, 66-6, ee-~,
<br />66-9, 66-10, 66-11, 66-13, 66-21, 66-23, 66-24, 66-25, 66-26 and
<br />66-27, municipal funds which are appropriated to the payment of
<br />said improvements and the proceeds of definitive improvement bonds
<br />as provided for in paragraph 7 hereof.
<br /> 7. Pursuant to Section 429.091, Subd. 3, Minnesota
<br />Statutes, the temporary bonds and interest thereon shall be pay-
<br />able out of the proceeds of definitive improvement bonds which
<br />the Council shall issue and sell at or prior to the maturity of
<br />the temporary bonds herein authorized to the extent that the
<br />same cannot be paid out of the assessments and taxes theretofore
<br />collected or out of any other municipal funds which are properly
<br />available and are appropriated by the Council for such purpose,
<br />provided, however, the Treasurer shall pay the interest on such
<br />temporary bonds accruing from time to time prior to maturity out
<br />of the general fund of the Village and the general fund shall be
<br />reimbursed from the proceeds of such assessments, taxes, available
<br />funds, and definitive bonds. The Clerk shall deliver a certified
<br />copy of this resolution to the County Auditor of Ramsey County and
<br />obtain his certificate as required by law.
<br /> 8. The Village Manager, Clerk and Treasurer are
<br />authorized and directed to prepare and furnish to the purchaser
<br />and to the attorneys approving the bonds, certified copies of all
<br />proceedings and records relating to the issuance of said bonds and
<br />to the right, power and authority of ~he Village and its officers
<br />to issue the same, and said certified copies and certificates
<br />shall be deemed the representations of the Village as to all
<br />matters stated therein.
<br /> 9. It is hereby declared and determined that contracts
<br />for Improvements Nos. 66-1, 66-24 66-4, 66-6, 66i?, 66-9, 66-10,
<br />66-11, 66-13, 66-21, 66-23, 66-2 , 66-25, 66-26 and 66-27 have
<br />been let, that the improvements have not been completed, and not
<br />less than $1,000,000 of the estimated cost of $ is
<br />assessable and will be assessed against benefited property.
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