Resolution 1675 - Laserfiche WebLink

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. I c) City Improvement No. 74-6 has been duly authorized and contracted for; the total assessable cost of Improvement No. 74-6 is the amount set forth in paragraph I: and special assessments will be levied by the Council against all property specially benefited by Improvement No. 74-6 in the minimum amount of $26,663.92 in 1977, payable in 15 equal annual installments of principal in the years 1978 to 1992, with interest on all deferred installments in amounts at least 5% greater than the principal and interest to become due on $26,663.92 of the Permanent Improvement Bonds of 1976. d) City Improvement No. 76-1 has been duly authorized and contracted for; the estimated total assessable cost for Improvement No. 76-11 is the amount set forth in paragraph 1; and special assessments will be levied by the Council against all property specially benefited by Improvement No. 76-1 in the minimum amount of $60,671.94 in 1977, payable in 15 equal annual installments of principal in 1978 to 1992, with interest on all deferred installments in amounts at least 5% greater than the principal and interest to become due on $60,671.94 of the Permanent Improvement Bonds of 1976. e) City Improve@ent No. 76-2 has been duly authorized and contracted for; the estimated total assessable cost for Improvement No. 76-2 is the amount set forth in paragraph I: and special assessments will be levied by the Council against all property specially benefited by Improvement No. 76-2 in the minimum amount of said estimated cost in 1977, payable in 15 equal annual installments of principal in 1978 to 1992, with interest on all deferred installments in amounts at least 5% greater than the principal and interest to become due on $72,124.00 of Permanent Improvement Bonds of 1976. f) The Council has authority under Section 475.56, Minnesota Statutes, to issue additional bonds to represent additional interest in the amount set forth as Bidder's Discount in paragraph 1. 3. The Permanent Improvement Bonds of 1976 shall be dated March 1, 1976, shall bear interest payable September 1, 1976 and semiannually thereafter on March 1 and September 1 and shall mature serially on March 1 in the years and amounts as follows: $20,000 in 1977, $35,000 in 1978, $40,000 in 1979, $45,000 in 1980 to 1991, and $15,000 in 1992, and $10,000 in 1993, all years inclusive, all bonds maturing after March 1, 1988 being subject to redemption at the option of the City and in inverse numerical order on March 1, 1988 and any interest payment date thereafter at par, accrued interest and a premium of 1% of the principal amount of bonds called for prior redemption. 4. The City Council shall meet at the City Hall in said City on Tuesday,' March 9, 1976 at 8:00 o'clock P.M. for the purpose of awarding the sale of said bonds. The City Manager and the City Clerk shall receive and open bids at 7:00 o'clock P.M. on the day of sale. The City Clerk is authorized and directed to give notice of sale by publication at least ten days in advance of such meeting in the official newspaper and in Commercial West, ~ financial paper published in the City of Minneapolis. The notice sh~ll be in substantially the following form: