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<br /> , <br /> 4 . The terms of the bonds and of the sale set forth in the <br /> foregoing notice are hereby approved and adopted as the terms of the <br /> bonds and the sale thereof. <br /> The motion for the adoption of the foregoing resolutions was <br /> duly seconded by Councilman Fisher and upon vote being <br /> taken thereon the following voted in favor thereof: <br /> Bromander, Anderson, Eagon, Fisher, Rebelein <br /> and the following voted against the same: None <br /> whereupon said resolution, was declared duly passed and adopted. <br /> Councilman Eagon introduced the following <br /> resolution and moved its adoption: <br /> RESOLUTION TO ISSUE AND SELL $423,000 <br /> PERMANENT IMPROVEMENT BONDS OF 1975 <br /> BE IT RESOLVED by the City Council of the City of New <br /> Brighton, Minnesota, as follows: <br /> 1. The City Council deems it necessary and expedient to <br /> issue and sell $423,000 general obligation negotiable coupon Permanent <br /> Improvement Bonds of 1975, to provide permanent financing for City <br /> Improvements Nos. 72-3, 72-4, 72-5, 72-6, 72-10, 72-11 and 72-12 of <br /> the City and to refund the Temporary Improvement Bonds of 1972 dated <br /> May 1, 1972, maturing May 1, 1975, to the extent that special assess- <br /> ments on account of such Improvements already collected are not <br /> sufficient for such purposes. The City Council hereby finds and <br /> determines that' the amount needed for such purposes is $415,000 <br /> plus $8,000 to represent additional interest upon the bonds being <br /> issued pursuant to the provisions of Section 475.56, Minnesota <br /> Statutes, and further finds and determines that each such Improvement <br /> has been duly authorized and contracted for, that special assessments <br /> have been levi~d in amounts more than 20% of the cost of the Improve- <br /> ment in each case and that the remaining installments thereof will be <br /> collected at times and in amounts sufficient to pay principal of and <br /> interest on the bonds to be issued. The Permanent Improvement Bonds <br /> of 1975 shall be dated April 1, 1975, shall bear interest payable <br /> October 1, 1975 and semiannually thereafter on April 1 and October 1 <br /> and shall mature serially on April 1 in the years and amounts as <br /> follows: <br /> $23,000 in 1976, <br /> $25,000 in 1977 to 1980, and <br /> $30,000 in 1981 to 1990, all years inclusive, <br /> " <br /> , <br /> 1 <br />