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<br />1l~8b Coppini moved the following resolution providing for the issuance and sale
<br />of WA'Y'~R~dA.TN IMPI~OVE~DiT_ OF 1969 ._No. 1, ~oI~S ;
<br />__ _
<br />RESOLUTION PROVIDING FOR THE
<br />ISSUANCE AND SALE OF
<br />z~'ATERMAIN IMPROVEMENT OF 1960, N0. 1, BONDS
<br />WHEREAS, the Village Council has heretofore determined to
<br />construct ~~,Iatermain Improvement Of 1960, No. 1. in the Village at a
<br />total cost of $68,000 and to specially assess more than twenty percent
<br />of the said cost against the abutting property pursuant to Minnesota
<br />Statutes; and
<br />inTHEREAS, the Village Council has entered into a contract for
<br />the construction of the watermain portion of the contract;
<br />NOW THEREFORE, be it resolved by the Village Council of the
<br />Village of Falcon Heights, Minnesota;
<br />1. The Village shall forthwith issue its negotiable coupon
<br />general obligation bonds, to be known as "Ydatermain Improvement Of 1960,
<br />No. 1, Bonds" in the aggregate principal amount of $68,000, to be 68 in
<br />number and numbered consecutively from 1 to 68, both inclusive, shall
<br />bear date of September 1, 1960, shall bear interest from the date thereof
<br />until the principal is paid at the rate of four percent (~.00°~) per annum
<br />on all bonds, payable September 1, 1961 and semi-annually thereafter on
<br />March 1 and September 1 in each ,year, plus additional interest represented
<br />b,y a separate set of interest coupons at the rate of two percent (2.OOg'~)
<br />per annum from October 1, 1960 to September 1, 1962, payable September 1,
<br />1961, Ntarch 1, 1962 and September 1, 1962. Said bonds shall be payable
<br />as tc principal and interest at the American National Bank, St. Paul,
<br />Minnesota, and shall mature serially on September 1 in the ,years and
<br />amounts as follows:
<br />$2,000 in each of the years 1963, 1865,
<br />1967, and 1969;
<br />$3,000 in each of the years 196, 1966,
<br />1968, 1970, ant 1971; and
<br />$5,000 in each of the ,years 1972 to 1980,
<br />both inclusive;
<br />all bonds maturing September 1, 1979 and September 1, 1980, to be subject
<br />to redemption and prior payment at the option of the Village, in inverse
<br />order of their numbers, on September 1, 1963 and on any interest payment
<br />date thereafter at par and accrued interest, plus a premium of $30.00 if
<br />called for redemption before September 1, 1970 and plus a premium of
<br />$20.00 if called for redemption on or after September 1, 1970. All other
<br />bonds of this issue maturing after September 1, 1970 shall be subject to
<br />redemption and prior payment at the option of the Village in inverse
<br />order of their numbers, on September 1, 1970 and on any interest date
<br />thereafter at par and accrued interest, plus a premium of $20.00. Thirty
<br />days prior notice of redemption shall in each case be given to the bank
<br />where said bonds are payable, to Juran & Moody, Inc., 93 E. (nth Street,
<br />St, Paul, Minnesota, and to the last known holders. Holders desiring to
<br />receive such notice must register their names, addresses and bond numbers
<br />with the Village Clerk.
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