Resolution 0043 - Laserfiche WebLink

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(4) The Mayor and Clerk are hereby authorized to enter into contracts with the low bidder for each schedule of work upon said bidder furnishing a satisfactory corporate surety bond conditioned upon the satisfactory performance of the work according to plans and specifications and otherwise as required by law. (5) It is hereby found, determined and declared that the total cost of Waterworks Improvement No. 1960 -1, including con- tract costs, legal engineering and fiscal costs, incidental and contingent costs, land and easement costs and 30,000 for interest during construction is 701=367 that not less than 430.000 of said cost will be assessed against property specially benefited by said improvement, payable in 15 equal annual installments with interest at the rate of 6 per cent per annum from the date of the adoption of said assessments to December 31 of the year in which the first payment is payable, to be added to the first installment, and one year's interest `on the unpaid valance to be added to each subsequent installment; that it is hereby determined that not less than 86,367 of said special assessments will be prepaid and available for payment of construction costs. (6) It is hereby found, determined and declared tha. it is necessary and expedient for the Village to borrow money and issue its general obligation, negotiable coupon, Waterworks Improvement Bonds in the amount of 615,000 and that this Council shall meet at the time and place specified in the form of notice hereinafter contained for the purpose of receiving and con- sidering sealed bids for and awarding the sale of said bonds and that the Clerk is hereby authorized and directed to cause notice of said meeting to be published in the official newspaper and in Commercial West, published in Minneapolis, Minnesota, at least once not later than ten (10) days prior to the date of said meeting, which notice shall be in substantially the following form: -3-