01/29/1970 Council Minutes - Laserfiche WebLink

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76 No. $5,000 UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF ANOKA VILLAGE OF LINO LAKES MUNICIPAL BUILDING BOND OF 1970 KNON ALL MEN BY THESE PRESENTS That the Village of Lino Lakes, Anoka County, Minnesota, acknowledges itself to be indebted and, for value received, hereby promises to pay to bearer on the 1st day of March, 19 , without option of prior payment the sum of FIVE THOUSAND DOLLARS and to pay interest thereon from the date hereof until said principal amount is paid at the rate of interest to maturity payable March 1, 1971, and semiannually thereafter on day of March and the 1st day of September in each year, in accordance with presentation and surrender of the interest coupons hereto attached as they become due. Both principal and interest are payable at the main office of western National Bank of Minneapolis, in Minneapolis, Minnesota the 1st and upon severally the North- in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith, credit and taxing powers of the village have been and are hereby irrevocably pledged. This bond is one of an issue of $100,000 principal amount, all of like date and tenor except as to maturity and interest rate, all issued for the purpose of pro- viding money to construct and equip a building for village hall, garage and other municipal purposes pursuant to authority conferred by more than the requisite majority vote of the electors of the village voting at an election duly and regularly called and held, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota. 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 regular and due form, time and manner as to required; that prior to the issuance hereof, a direct annual irrepealable ad valorem tax has been duly levied upon all of the taxable property in said village for the years and in amounts as required by law, and additional taxes will be levied upon all of said property, if required to pay principal or interest when due which taxes may be levied without limitation as to rate or amount; and that the issuance of this bond did not cause the indebtedness of the village to exceed any constitutional or statutory limi- tation thereon. IN WITNESS WHEREOF, The Village of Lino Lakes, Anoka 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, and its corporate seal to be hereto affixed, and has caused the attached interest coupons to be executed and authenticated by the facsimile signatures of said officers, all as of March 1, 1970. illage Clerk (Seal) /s/ Ralph M. LtAllier Mayor