CCMin_59Oct8 - Laserfiche WebLink

Home Browse Search

shall be added interest on the entire assessment from the date of the resolution levying the assessment until December 31st of the year in which the first installment is payable. To each subsequent install- ment when due shall be added interest for one year on all unpaid in- stallments. 6. It is hereby determined that the remainder of the cost of said improvement, not paid by collections of said special assessments, shall be paid from general ad valorem tax levies upon all of the tax- able property in the Village. To provide monies for the payment of such pDrtion of said cost, and to produce with said assessments amounts not less than 5~ in excess of the sums required to pay when due the principal of and interest on said bonds, there is hereby levied upon all of the taxable property in the Village a direct, annual, ad valorem tax, which shall be spread upon the tax rolls for the years and in the amounts as indicated below, and collected together with and as a part of other general property taxes in the respective ensuing years: Y~ ~~ Y~ ~ YID 1960 2500 1966 3500 1972 4000 1961 2500 1867 3500 1973 ?~ooo 1962 3000 1868 3500 1974 4000 1963 3000 1969 3500 1975 4300 1964 3000 1970 3500 1976 4500 1977 4500 Said tax shall be irrepealable as long as any of said bonds are out- standing and unpaid; provided, that the Village reserves the right and power to reduce said levies by the amount of any monies irrevocably appropriated to and actually paid into said Sinking Fund Account in accordance with the provisions of Minnesota Statutes, Section 475.61. 7. The Village Clerk is hereby authorized and directed to file a certified copy of this resolution with the County Auditor of Ramsey County, together with such other information as he shall re- quire, and to obtain from said County Auditor a certificate that said bonds have been entered on his bond register and that the tax required by law for the payment of said bonds has been levied. 8. The full faith and credit of the Village is hereby pledged for the payment of the principal and interest of said bonds. g. The officers of the Village and the County Auditor of Ramsey County are hereby authorized and directed to prepare and furnish to the purchase of said bonds and to the attorneys approving the legal- ity of the issuance thereof certified copies of all proceedings and re- cords relating to said bonds and to the financial affairs of the Village, 1 1