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<br />of 1967 to issue additional obligations not exceeding 2% of the bonds
<br />authorized at said election, said bonds to be dated May l, 1969,
<br />to bear interest payable February l, 1970 and semiannually thereafter
<br />on February 1 and August 1 in each year at the rate or rates desig-
<br />nated by the successful bidder and to mature serially on February 1
<br />in the years and amounts as follows:
<br /> $l4,000 in 1971 (extra bonds under Chapter 48l),
<br /> $lO,OOO in 1972 to 1975,
<br /> $l5,000 in 1976 to 1981,
<br /> $20,000 in 1982 to 1986,
<br /> $25,000 in 1987 ro 1988,
<br /> $30,000 in 1989 to 1991,
<br /> $35,000 in 1992 to 1993,
<br /> $40,000 in 1994 to 1996,
<br /> $45,000 in 1997 to 1998, and
<br /> $50,000 in 1999, all years inclusive,
<br />all bonds maturing in the years 1985 to 1999, both inclusive, being
<br />subject to redemption at the option of the Village and in inverse
<br />numerical order on February l, 1984 and anv interest payment date
<br />thereafter at par and accrued interest. Both principal and interest
<br />will be payable at any suitable bank designated by the purchaser
<br />within 48 hours after the award of sale of the bonds, and except
<br />as otherwise specified by the successful bidder, the bonds will be
<br />in the denomination of $l,OOO and $5,000 each.
<br /> 3. The Village Council shall meet at the Village Hall
<br />in said Village on T~esday, the l5th day of April, 1969 at 7:00
<br />o'clock P.M., C.S.T., for the purpose of receiving and considering
<br />sealed bids for the purchase of said bonds. The Village Clerk is
<br />authorized and directed to give notice of sale of said Temporary
<br />Improvement Bonds of 1969 and notice of sale of said Park Bonds
<br />of 1969 by publication at least ten days in advance of such meeting
<br />in the official newspaper and in Commercial West, a financial paper
<br />published in the City of Minneapolis. Each such notice shall recite
<br />substantially the following: The Village will furnish the bonds
<br />and approving legal opinion of Messrs. Faegre & Benson, Minneapolis,
<br />Minnesota, both without expense to the purchaser. The bonds will be
<br />delivered to the purchaser within forty days from the date of sale
<br />at the office designated by the purchaser with1n the State of Minne-
<br />sota or in Chicago, Illinois, at the expense of the Village or
<br />elsewhere at the purchaser's expense, accompanied by an unqualified
<br />approving legal opinion and customary final delivery papers,
<br />including a certificate showing absence of litigation. All bids
<br />must be in writing enclosed in a sealed envelope, suitably marked
<br />as a bid for bonds, be unconditional except as to the above opinion,
<br />specify one or more rates of interest in integral multiples of
<br />5/l00 of one per cent and be delivered or mailed for delivery
<br />and received prior to the time of meeting, accompanied by a
<br />certified check, bank draft or cashier's check in the amount of
<br />at least 2% of the principal amount of bonds, payable to the order
<br />of the Village, to be forfeited as liquidated damages in event
<br />the bid is accepted and the bidder fails to comply therewith.
<br />No oral auction bids will be received. The Village reserves the
<br />right to waive any informality and the right to reject any and all
<br />bids and to adjourn the sale if deemed expedient.
<br /> 4 . The notice of sale of such Temporary Improvement
<br />Bonds shall further require bids of not less than par plus accrued
<br />interest and recite substantially the following: Split rate bids
<br />
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