Resolution 709 - Laserfiche WebLink

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I . . , the $650,000 Temporary Improvement Bonds of 1967, dated October 1, 1967, to the extent that collections of special assessments for Improvements Nos. 67-1, 67-2, 67-3, 67-4, 67-5, 67-6A, 67-7, 67-9, 67-12, 67-13, 67-14, and 67-15 are insufficient for such purpose. The remaining proceeds of the bonds shall be used to pay the costs of Improvement No. 69-25 and any additional costs of the other improvements identified in the form of bond not met from the Temporary Improvement Bonds of 1967 or collections of special assessments. Any special assessments on account of any said improve- ments heretofore collected and not required for payment of principal or interest on the Temporary Improvement Bonds of 1967 or for payment of the expenses of such improvements, and any special assessments on account of said improvements hereafter collected, shall be paid into said Improvement Bonds of 1969 Fund. 7. It is hereby found and determined that the estimated collection of special assessments pledged for the payment of said bonds and the taxes levied herein will produce at least five per cent in excess of the amount needed to meet, when due, the principal and interest payments on the bonds. Nothing herein contained shall prevent the issuance and sale of additional bonds payable from the proceeds of said assessments to provide additional funds to pay the balance of the cost of each said improvement. For the purpose of paying the Village's share of the costs of said improvements, taxes are hereby levied and pledged to the payment of the bonds in the years and amounts as follows: Year Year Collectible Amount Collectible Amount 197cf $3,697.60 1971 3,697.60 1972' 3,697.60 1973 3,697,60 1974 3,697,60 1975 .' 3,697.60 1976' 3,697,60 1977 ~ 3,697.60 1978 . 3,697.60 1979 3,697.60 The Village reserves the right to reduce the taxes hereby levied in the manner and to the extent permitted by law, and the Village Clerk shall certify to the County Auditor reduced levies if and to the extent that moneys and investments in the sinking fund will, with the levies remaining to be made, provide moneys for each remaining payment of principal and interest, when due, and a sum at least 5.00% in excess thereof. 8. The Clerk shall deliver a certified copy of this resolution to the County Auditor of Ramsey County and obtain his certificate as required by law. 9. The Village Manager, Clerk and Treasurer are authorized and directed to prepare and furnish to the purchaser and to the attorneys approving the issue, certified copies of all proceedings and records relating to the issuance of said Improvement Bonds of 1969, and to the right, power and authority of the Village and its officers to issue the same, and said certified copies and certificates shall be deemed the representations of the Village as to all matters stated therein.