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Resolution 1199
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Resolution 1199
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7/8/2008 7:45:59 AM
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6/24/2008 3:10:40 PM
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<br />. . I <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />receipt of the legal opinion and payment for the bonds, the Treasurer <br />and Clerk shall deliver the bonds to the purchaser, and the purchaser <br />shall not be obligated to see to the proper application of the purchase <br />price. <br /> <br />6. There is hereby created a special fund to be known as <br />Temporary Improvement Bonds of 1973 Fund, which shall be held and <br />used by the Treasurer for no other purpose than to pay principal and <br />interest on said bonds; and there shall be credited to said fund the <br />proceeds from assessments and taxes collected for the payment of <br />Improvements Nos. 73-2, 73-3, 73-4, 73-5, 73-6 and 73-9, municipal <br />funds which are appropriated to the payment of said improvements <br />and the proceeds of definitive improvement bonds as provided for <br />in paragraph 7 hereof. <br /> <br />7. Pursuant to Section 429.091, Subdivision 3, Minnesota <br />Statutes, the temporary bonds and interest thereon shall be payable <br />out of the proceeds of definitive improvement bonds which the Council <br />shall issue and sell at or prior to the maturity of the temporary <br />bonds herein authorized to the extent that the same cannot be paid <br />out of the assessments and taxes theretofore collected or out of any <br />other municipal funds which are properly available and are appropriated <br />by the Council for such purpose, provided, however, the Treasurer shall <br />pay the interest on such temporary bonds accruing from time to time <br />prior to maturity out of the general fund of the Village and the general <br />fund shall be reimbursed from the proceeds of such assessments, taxes, <br />available funds, and definitive bonds. The Clerk shall deliver a <br />certified copy of this resolution to the County Auditor of Ramsey <br />County and obtain his certificate as required by law. <br /> <br />8. The Village Manager, Clerk and Treasurer are authorized <br />and directed to prepare and furnish to the purchaser and to the attorneys <br />approving the bonds, certified copies of all proceedings and records <br />relating to the issuance of said bonds and to the right, power and <br />authority of the Village and its officers to issue the same, and said <br />certified copies and certificates shall be deemed the representations <br />of the Village as to all matters stated therein. <br /> <br />9. It is hereby declared and determined that contracts for <br />Improvements Nos. 73-2, 73-3, 73-4, 73-5, 73-6 and 73-9 have been let, <br />that the imprQvements have not been completed, and not less than $ <br />of the e~timatedcostof $ is assessable and will be assessed <br />against benefited property. <br /> <br />The motion for the adoption of the foregoing resolution was <br /> <br />duly seconded by Councilman ~ and upon vote being taken <br /> <br />thereon the following voted in favor thereof: <br /> <br />.....7.7. ...... A.-... ..... .".... <br /> <br /> <br />and the following voted against the same: ... <br /> <br /> <br />whereupon said resolution was declared duly passed and adoptedo <br />
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