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853
<br />- .r .a . . .
<br />., _
<br />~, - - ~'~ -
<br />5. It is hereby determined that no less than Six Hundred
<br />Twenty Thousand Dollars ($620,000) of the cost of said
<br />improvement shall be paid by special assessments to be levied upon all
<br />assessable lots, pieces and parcels of land within the area heretofore
<br />determined to be assessable for said improvement in amounts proportionate
<br />to the benef its received by each such lot, piece or parcel; and the
<br />Village hereby covenants and agrees that it will do and perf orm, as soon
<br />as may be, all acts and things necessary for the final and valid levy
<br />of such assessments. If any assessment be at any time held invalid
<br />with respect to any lot, piece or parcel of land, due to any error,
<br />- defect or irregularity in any action ors proceeding taken or to be taken
<br />Eby the Village or this Council or any of the Village's officers or em-
<br />ployees, either in the making of such assessment or in the perf ormance
<br />of any condition precedent thereto, the Village and this Council hereby
<br />'covenant and agree that they will forthwith do all such further acts
<br />and take all such further proceedings as may be required by law to make
<br />such assessment a valid and binding lien upon such property. Said assess-
<br />menu shall be payable in twenty (20) equal, consecutive, annual instal-
<br />ments, the first of said installments to be payable with general taxes
<br />~`f or the year 1957 collectible with such taxes during the year 1958•
<br />Deferred installments shall bear interest at the rate of six (6J) percent
<br />per annum. To the first installment shall be added interest on the entire
<br />assessment from the date of the resolution levying the assessment until.
<br />December 31st of the year in which the first installment is payable.
<br />To each subsequent installment when due shall be added interest for one
<br />year on all unpaid installments.
<br />6. It is hereby determined that the remainder of the cost
<br />of said improvement, not paid by collections of said
<br />special assessments, shall be paid from general ad valorem tax levies
<br />upon all of the taxable property in the Village. To provide monies
<br />for the payment of such portion of said cost, and to produce with said
<br />assessments amounts not less than 5~ in excess of the sums required to
<br />pay when due the principal of and interest on said bonds, there is hereby
<br />levied upon all of the taxable property in the Village a direct, annual,
<br />ad valorem tax, which shall be spread upon the tax rods for the years
<br />and in the amounts as indicated below, and collected together with and
<br />as a part of other general property taxes in the respective. ensuing years:
<br />__ _. ._.
<br />- -i ~M' ~ - s;x
<br />~ ~
<br />+- ,.~.
<br />• - ~,,
<br />
<br />~~
<br />r
<br />Year -
<br />Levy
<br />
<br />_ $~1~~.63
<br />Year -- `_ ~
<br />~-
<br />;,e,,,w~ _;'Y`ea`r
<br />$20,25 I~1
<br />_ _.. -~.~,._--_~
<br />-_~ Lev _ _
<br />$18
<br />2
<br />1
<br />
<br />1959
<br />3 7.50
<br />31
<br />437
<br />50
<br />1965
<br />1866
<br />20, 00
<br />2
<br />2
<br />19"x2 .
<br />5
<br />' 18,171.88
<br />
<br />1960 ,
<br />.
<br />20, 776.25
<br />1967 0,1
<br />3.75
<br />19, 857.50 1973
<br />1974 17, ~ .
<br />i
<br />X
<br />
<br />1961
<br />1 g62 ~.
<br />20, 746.25
<br />20
<br />716
<br />25
<br />1968
<br />i 969
<br />19, 591.25
<br />1
<br />1 l7,
<br />3
<br />03 .
<br />6
<br />6
<br />~
<br />
<br />~; 1g63 ,
<br />,
<br />20, 686.25
<br />1970 9, 325.00
<br />18
<br />g4o
<br />63 1976 1
<br />,
<br />, 3g
<br />3
<br />^~ Said tax shall
<br />outstanding .and be irrepeal
<br />unpaid; pr able as
<br />ovided, ,
<br />.
<br />long as any of
<br />that th said b onds are
<br />
<br />right and power
<br />irrevocabl
<br />a
<br />to reduce
<br />r
<br />i
<br />said lev e Village rese
<br />ies by the amount of rves the
<br />any monies
<br />y
<br />pp
<br />Fund Account in opr
<br />ated t
<br />accordance o and ac
<br />with th tually paid int
<br />e provisions
<br />f o said Sinking
<br />
<br />Section 475,61.
<br />=~wawF
<br />
<br />_ o Minne sota Statutes,
<br />
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