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<br />Interest Interest
<br />Year Amount Rate Year Amount Rate
<br />1967 $70,000 3.60% 1982 $60,000 3.80%
<br />1968 70,000 3.60% 1983 60,000 3.90%
<br />1969 70,000 3.60% 1984 60,000 3.90%
<br />1970 70,000 3.60% 1985 60,000 3.90%
<br />1971 70, 000 3. 60% 1986 60, 000 3.90%
<br />1972 70,000 3.60% 1987 60,000 4.00%
<br />1973 70, 000 3.8 0% 1988 60,000 4.00%
<br />1974 70,000 3.8 0% 1989 60,000 4.00%
<br />1975 70,000 3 .8 0% 1990 60,000 4.00%
<br />1976 70,000 3 .80% 1991 60,000 4.00%
<br />1977 70,000 3.80% 1992 60,000 4.00%
<br />1978 70,000 3.80% 1993 6o, 000 4. 00%
<br />1979 60,000 3.80% 1994 60,000 4..00%
<br />1980 60,000 3.80% 1995 60,000 4.00%
<br />1981 60,000 3.80%
<br />Interest shall be payable each October 1 and April 1, commencing on October 1,
<br />1965. Interest at the basic rate applicable to each bond, from date of issue to
<br />maturity, shall be represented by appropriate interest coupons appurtenant to such
<br />bond, and each and all of the bonds shall bear additional interest represented by
<br />separate coupons designated as "B" coupons, at the rate of 2.00 per annum for
<br />the limited period from July 1 19 65, to April 1 19 66. The bonds
<br />maturing in the years 1967 through 1976 shall not be subject to redemption before
<br />maturity, but those maturing in the years 1977 through 1995 shall be each subject
<br />to redemption and prepayment at the option of the Village on April 1, 1976, and
<br />any interest payment date thereafter, at a price of 102, of par and accrued interes
<br />for any bond redeemed before April 1, 1986, or a price of 101% of par plus accrued
<br />interest for any bong redeemed on or after said date. Not leas than thirty days
<br />before the date specified for prepayment and redemption of any of said bonds, the
<br />Village Treasurer shall mail notice of the call thereof to the holder, if known,
<br />and to the bank at which principal and interest are then payable, and the Treasurer
<br />is directed to maintain a record of the names and addresses of holders of prepayable
<br />bonds for the purpose of mailing such notices so far as such information is made
<br />available to him. The principal of and interest on said bonds shall be payable at
<br />The First National Bank of Saint Paul
<br />in St Paul Minnesota and the Village hereby agrees to pay the
<br />reasonable and customary charges of such paying agent for the receipt and disburse-
<br />ment thereof.
<br />3. The bonds shall be prepared for execution forthwith, executed and
<br />delivered to First National Bank of Saint Paul of
<br />St. Paul Minnesota as purchaser thereof, in the manner and substan-
<br />tia]1y in the form set forth in said Ordinance No. 68, upon payment by the purchaser
<br />of par plus accrued interest, as provided in the contract of sale of said bonds
<br />heretofore aecepted by this Council. The proceeds of issuing said bonds shall be
<br />credited by the Treasurer to the funds and in the amounts as follows:
<br />FUND A140Dif'
<br />Sanitary and Storm Sewer and Street Re- $1,757,
<br />surfacing Improvement
<br />Street and Water Improvement 1964 -1
<br />Street and Water Improvement 1964
<br />County Road "H" Water Improvement 1965 -1
<br />Silver Lake Road Water improvement 1965 -2
<br />*$41,233 on hand will be appropriated into
<br />the fund for this improvement
<br />4,926
<br />32,301
<br />4,775*
<br />15,710
<br />1,815,120
<br />41, 233
<br />$1,856,353
<br />
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