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<br /> '1 <br />';4 \ ) 0.-' ., <br />. <br />".- '-"'" <br /> RESOLUTION NO. 879 <br /> Extract of Minutes of Meeting of the <br /> Village Council of the Village of New Brighton, <br /> Ramsey County, Minnesota <br /> Pursuant to due call and notice thereof, a regular <br /> meeting of the Village Council of the Village of New Brighton, <br /> Minnesota, was duly held at the Village Hall in said village <br /> on Tuesday, the 27th day of October, 1970, at 8:00 ofclock <br /> P .M. , C.D.S.T. <br /> The following members were present: Bromander, Moen, <br /> Nesser, Rebelein, Morris; and the following were absent: None . <br /> *** *** *** <br /> Councilman Nesser introduced the following resolution <br /> and moved its adoption: <br /> RESOLUTION TO ISSUE AND SELL <br /> $1,224,000 WATER FACILITY BONDS <br /> BE IT RESOLVED by the Village Council of the Village of <br /> New Brighton, Minnesota, as follows: <br /> 1. The Village Council deems it necessary and expedient <br /> to issue and sell $1,224,000 general obligation negotiable <br /> coupon Water Facility Bonds of 1970 pursuant to the provisions <br /> of Section 444.075, Minnesota Statutes, to provide part of <br /> the funds needed for the acquisition of two sites for an <br /> elevated storage tank and a well and future treatment facilities, <br /> and the construction of lines, wells and an elevated storage <br /> tank in the aggregate principal amount of $1,200,000; and in <br /> connection therewith and pursuant to the authority granted <br /> by Chapter 481 of the Laws of 1967 to issue additional <br /> obligations not exceeding 2% of the $1,200,000 in principal <br /> amount to be borrowed for such purposes. Said Bonds are to <br /> be dated December 1, 1970, to bear interest payable June 1, <br /> 1971 and semi-annually thereafter on December 1 and June 1 <br /> in each year at the rate or rates designated by the successful <br /> bidder, and to mature serially on December 1 in the years and <br /> amounts as follows: <br /> $94,000 in 1971 $100,000 in 1977 <br /> $70,000 in 1972 $110,000 in 1978 <br /> $75,000 in 1973 $115,000 in 1979 <br /> $80,000 in 1974 $125,000 in 1980 <br /> S85,000 in 1975 $135,000 in 1981 <br /> S95,000 in 1976 $140,000 in 1982 <br /> The Bonds will be without option of prior payment. Such Water <br /> Facility Bonds shall be general obligations of the Village payable <br /> primarily, however, from and secured by a pledge of and lien on <br /> the net revenues derived from water and sewer service charges imposed <br />