Laserfiche WebLink
<br />. . 'c ~ <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 <br /> Council shall issue and sell at or prior to the maturity of the <br /> temporary bonds herein authorized to the extent that the same <br /> cannot be paid out of the assessments and taxes theretofore <br /> collected or out of any other municipal funds which are properly <br /> available and are appropriated by the Council for such purpose, <br /> provided, however, if not paid from the sources referred to above, <br /> the Treasurer shall pay the interest on such temporary bonds <br /> accruing from time to time prior to maturity out of the general <br /> fund of the City and the general fund shall be reimbursed from <br /> the proceeds of such assessments, taxes, available funds and <br /> definitive bonds. The Clerk shall deliver a certified copy of <br /> this resolution to the County Auditor of Ramsey County and obtain <br /> his certificate as required by law. <br /> 8. The City Manager, Clerk and Treasurer are authorized <br /> and directed to prepare and furnish to the purchaser and to the <br /> attorneys approving the bonds, certified copies of all proceedings <br /> and records relating to the issuance of said bonds and to the <br /> right, power and authority of the City and its officers to issue <br /> the same, and said certified copies and certificates shall be <br /> deemed the representations of the City as to all matters stated <br /> therein. <br /> 9. It is hereby declared and determined that contracts <br /> for Improvements Nos. 77-4, 77-5, 77-6 and 77-7 have been let, <br /> that the improvements have not been completed, and not less than <br /> 20% of the estimated cost of each improvement is assessable and <br /> will be assessed against benefited property. <br /> The motion for the adoption of the foregoing resolution <br /> was duly seconded by Councilman Senden and upon <br /> vote being taken thereon the following voted in favor thereof: <br /> Fisher, Hardt, Senden, Werdouschegg <br /> and the following voted against the same: <br /> None <br /> whereupon said resolution was declared duly passed and adopted. <br /> -5- <br />