CCRes_72-11 - Laserfiche WebLink

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1 This bond is one of an issue in the total principal amount, of $100,000, all of like date and tenor, except as to • serial, number, maturity, interest rate and redemption privi- lege, which bond has been issued for the purpose of providing funds for the acquisition, construction and furnishing of a new liquor dispensary building, and the said bonds and inter- est thereon are payable solely and exclusively out of the Sinking and Interest Account of the Liquor Dispensary Fund of the Village; from the net revenues of the municipal liquor dispensary, as provided by the resolution authorizing the issuance of said bonds, and do not constitute a debt of the Village within the meaning of any constitutional or statutory limitation of indebtedness. In the event of any default hereunder, the holder of this bond may exercise any of the rights and privileges granted by the. laws of the State of Minnesota subject to the provisions of the .authorizing resolution of the Council. The bonds of this issue are a first and prior lien upon the net revenues of the municipal liquor store of the Village, except that the Village is authorized to issue additional revenue obligations on a parity of lien with these bonds under certain limited condi- tions, all as specified in the resolution authorizing this issue. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done,. to happen and • to be performed, precedent to and in the issuance of this bond, have been done, have happened and have been performed, in due form and manner as required by law; that the Village will acquire, construct and furnish a liquor dispensary pursuant to law, that the Village will pay net revenues into the Sinking and Interest Account and maintain in said account a sufficient amount to pay principal and interest as the same _ become due; and that the Village will at all times maintain such operating policies as to produce revenues at least sufficient to meet the annual principal and interest require- ments of this issue. IN WITNESS WHEREOF., the Village of Falcon Heights, Ramsey County, Minnesota, by its Village Council has caused this bond to be executed in its behalf by the signatures of the Mayor and the Village Clerk-Administrator and the corporate seal of the Village to be hereto affixed and has caused the interest coupons hereto annexed to be executed and uthe Gated by the facsimile signatures of s d officer a a~ of gust 1, 1972. ,~ illage Clerk-Administrator Mayor -8- r. •-. R 4!l ."ter.. ...yrll"T. `. {^ .. i. rt...Tnw~l+~ ' YIMT"'ice. .. .. ... .. .. ...... ....~...-.. ..