Resolution 814 - Laserfiche WebLink

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. . . ~ . the $750,000 Temporary Improvement Bonds of 1968, dated June 1, 1968, to the extent that collections of special assessments for Improvements Nos. 68-3 to 68-7 inclusive, and 68-9 to 68-12 inclusive are insufficient for such purpose. The remaining proceeds of the bonds shall be used to pay the costs of Improvement No. 68-14 and any additional costs of the other improvements identified in the form of bond not met from the Temporary Improvement Bonds of 1968 or collections of special assess- ments. Any special assessments on account of any said improvements heretofore collected and not required for payment of principal or interest on the Temporary Improvement Bonds of 1968 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 Permanent Improvement Bonds of 1970 Fund. 7. It is hereby found and determined that the estimated collection of special assessments pledged for the payment of said bonds 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 iost of each said improvement. 8 . The Clerk shall deliver a certified copy of this resolution to the County Auditor of Ramsey County and obtain his certificate as required bylaw. 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 Permanent Improvement Bonds of 1970, 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. The motion for the adoption of the foregoing resolution was duly seconded by Councilman Moen and upon vote being taken thereon the following voted in favor thereof: k..ad.... Moen. Morri. aa4 ....1' and the following voted against the same: None whereupon said resolution was declared duly passed and adopted.