Resolution 797 - Laserfiche WebLink

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. ,> . . . expenses incurred and to be incurred in connection with Improvements Nos. 70-2, 70-3, 70-4, 70-6, 70-8, 70-10, 70-11, 70-13 and 70-14, consisting of acquiring, opening and widening street right-of-way, grading, graveling and surfacing of streets and installa- tion of curb and gutter, sanitary sewer, water main and storm sewers, on various streets in the Village, and is payable from the Temporary Improvement Bonds of 1970 Fund out of the proceeds of definitive improvement bonds which shall be issued and sold at or prior to the maturity of this bond to the extent that the same cannot be paid out of the special assessments for such improvements or taxes theretofore collected or out of any other municipal funds which are properly available and are appropriated for such purpose, and the holders of the bonds of this issue have the right to require the issuance of definitive bonds bearing interest at the rate of 6.00% per annum, maturing and subject to redemption as provided by law, on a par for par basis with such temporary bonds; provided, however, the full faith and credit of the Village have been irrevocably pledged for the payment of principal and interest on this bond and any definitive bond exchanged therefor, and the Village will levy a direct ad valorem tax upon all of the taxable property in the Village if necessary to provide for any deficiency. IT IS HEREBY CERTIFIED AND RECITED That all acts, conditions and things required by the Constitution and Laws of the State of Minnesota to be done, to happen and to be performed precedent to and in the issuance of this bond have been done, have happened and have been performed in regular and due form, time and manner as required by law; and that this bond, together with all other indebtedness of the Village outstanding on the date hereof and the date of its actual issuance and delivery, does not exceed any constitutional or statutory limitation thereon. IN WITNESS WHEREOF, the Village of New Brighton, Ramsey County, Minnesota, by its Village Council, has caused this bond to Be executed by the Mayor and Village Manager and sealed with the corporate seal of said village and the interest coupons hereto attached to be executed by the facsimile signatures of said officers, all as of May 1, 1970. Mayor Village Manager (Seal) (Form of Coupon 1 No. $ [Unless the bond described below has been called for earlier redemption] On Ute 1st day of May ("November 1 , 19 , the Village of New Bri'ghton, Ramsey County, Minnesota, will pay to bearer at the sum shown hereon for the installment of interest tIien:,due on its Temporary Improvement Bond of 1~70, dated May 1, 1970, No. . Mayor Village Manager