Resolution 0057 - Laserfiche WebLink

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YEAR AMOUNT RATE YEAR AMOUNT RATE 1962 $35,000 4.004 1971 $35,000 4.20; 1963 $35,000 4.00% 1972 $35,000 4.20% 1964 $35,000 4.00% 1973 $35,000 4.25% 1965 $35,000 4.00/ 1974 $35,000 4.25; 1966 $35,000 4.004 1975 $35,000 4.254 1967 $35,000 4.00; 1976 $35,000 4.254 1968 $35,000 4.00% 1977 $35,000 4.25% 1969 $35,000 4.20; 1978 $25,000 4.25% 1970 $35,000 4.204 Interest shall be payable August 1, 1961 and semiannually thereafter on February 1 and August 1. Interest at the basic rate applicable to each bond, from date of issue to maturity, shall be represented by appropriate interest coupons appurtenant to such bond, and each and all of the bonds shall bear additional interest, represented by separate coupons designated as "B" coupons, at the rate of 1.50 per annum for the limited period from February 1 19 61 to February 1 19 62. The bonds maturing in the years 1962 through 1973 shall not be subject to redemption before maturity, but those maturing in the years 1974 through 1978 shall be each subject to redemption and prepayment at the option of the Village on February 1, 1972, and any interest payment date thereafter, in inverse order of their serial numbers and at a price of par and accrued interest plus a premium of $20 for each bond prepaid. Not less than thirty days before the date specified for prepayment and redemption of any of said bonds, the Village Treasurer shall mail notice of the call thereof to the holder, if known, and to the bank at which principal and interest are then payable, and the Treasurer is directed tc maintain a record of the names and addresses of holders of prepayable bonds for the purpose of mailing such notices, so far as such informa- tion is made available to him. The principal and interest on said bonds shall be payable at the main office of American National Bank of St. Paul in St. Paul, Minnesota, and the Village hereby agrees to pay the reasonable and customary charges of such paying agent for the receipt and disbursement thereof. (3) The bonds shall be prepared for execution forthwith, exe- cuted and delivered to said purchasers in the manner and substantially in the form set forth in said Ordinance No. 68, upon payment by the purchasers of par plus accrued interest plus a premium of 0 as provided in the contract of sale above described, and the proceeds thereof shall be credited by the Treasurer to the funds of said Waterworks Improvements to -wit: 54,945 to Waterworks Improvement No. 1960 -1; $321,288, less $8,580 for interest during construction, to Waterworks Improvement No. 1950 -2; $265,745, less $6,420 for interest during construction, to Waterworks Improvement No. 1960 -3; 3