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<br />.~, . -', \ f 1 <br /> <br />RESOLUTION NO. 1197 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />VILLAGE OF NEW BRIGHTON <br /> <br /> <br />Extract of Minutes of Meeting of the <br />Village Council of the Village of New Brighton, <br />Ramsey County, Minnesota <br /> <br /> <br />Pursuant to due call and notice thereof, a regular meeting <br />of the Village Council of the Village of New Brighton, Minnesota, <br />was duly held at the Village Hall in said village, on Tuesday, <br />March 13, 1973, at 8:00 oDclock PaMo, CoSoTo <br />The following members were present: <br />Bromander, Anderson, Eagon, Fisher, Rebe1ein <br /> <br /> <br />and the following were absent: <br />None <br />* * * * * * * * * <br /> <br /> <br />Councilman Rebe1ein introduced the following <br /> <br />resolution and moved its adoption: <br /> <br />RESOLUTION TO ISSUE AND SELL $490,000 <br />PERMANENT IMPROVEMENT BONDS OF 1973 <br /> <br />BE IT RESOLVED by the Village Council of the Village of <br />New Brighton, Minnesota, as follows: <br /> <br />10 The Village Council deems it necessary and expedient to <br />issue and sell $490,000 general obligation negotiable coupon Permanent <br />Improvement Bonds of 1973 to provide permanent financing for Village <br />Improvement Noso 70-2, 70-3, 70-4, 70-6, 70~8, 70-10, 70-11, 70-13 <br />and 70-14, of the Village and to refund the Temporary Improvement Bonds <br />of 1970, dated May 1, 1970, to the extent that special assessments on <br />account of such improvements already collected are not sufficient for <br />such purposes, said bonds to be dated April 1, 1973, to bear interest <br />payable October 1, 1973 and semiannually thereafter on April land <br />October 1 in each year at the rate or rates designated by the successful <br />bidder, and to mature serially on October 1 in the years and amounts as <br />follows: <br /> <br />$30,000 in 1974 to 1987, and <br />$35,000 in 1988 and 1989, all years inclusive, <br /> <br />all bonds maturing in the years 1986 to 1989 being subject to redemption <br />at the option of the Village and in inverse numerical order on October 1, <br />1985 and any interest payment date thereafter at par, accrued interest <br />and a premium of 1000% of the principal amount of bonds called for prior <br />redemption 0 The Village Council hereby finds that each such Improvement <br />has been duly authorized and contracted for, that special assessments <br />have been levied in amounts more than 20% of the cost of the improvement <br />in each case and that the remaining installments thereof will be collected <br />at times and in amounts sufficient to pay principal of and interest on <br />