|
sole_ to :.y the costs c_ said cv. __ts w..a for the other mr.tc:es
<br />in said ordinance. Of the remaining proceels of issuing said bonds,
<br />y;
<br />44,880 and also the accrued interest to be rece' nzon deliv; _,'o_
<br />C:`_nds shfil be credited and paid i_ o the -ant nd demmtion .a of
<br />Village.
<br />••u
<br />4. acc0_'G .nc@ hcre y e
<br />ly y1,335,63 rinea' ali.o.__., of s eel..._ rises„ is aiiL e Levi,-
<br />sf s.:.id Sanitary and Storm Seiler aar_. a Street Resurfacing Improvement. :'C
<br />s within the area assessable for .:o ement, as heretofore estab-
<br />l ished by the resolutions ordering the some, and vill be available for credit to
<br />the !improvement Bond Redemption Fund wit° r the cost of the improvement is d in
<br />full; :which assessments will, be paid in 30 eou l annual instalments, collectible
<br />with general taxes of the Village in consecutive years commencing; in 1966, with
<br />interest at the rate of 6g4, per annum. It is further estimated that a ro at -1,y
<br />98,945 principal amount of special assessments will be levied on account
<br />of the other improvements financed by the bonds herein authorized to be issued,
<br />and will be available for credit' to the Improvement Mond 'Redemption rlxrd aster the
<br />cost of such improvements is paid in full; which assessments dal be paid n 15
<br />equal annual installments collectible with general taxes of the Village in conse-
<br />cutive years commencing ini interest at the rate of 6% per annum. To
<br />the first installment shall be added interest on the entire assessment on each
<br />property from the date of adoption thereof until December 31 of the year in which
<br />the first instRllment is payable, and to each subsea_uent` installment "s'ra3].'
<br />added interest for one year on the then unpaid balance of the assessment All
<br />moneys collected therefrom shall be and are hereby +appropriated to the ftmds of
<br />said improvements and to the ?a>iprovement Bond Redemption 2Und, and shall be
<br />accounted for and expended in the ananner provided in Ordinance No. 68. The full.
<br />faith and credit of the Village Is also pledged for the payment of said bonds and
<br />interest as provided in said ordinance:
<br />5. There is hereby levied a general ad valorem tax upon all taxable
<br />property in the Village for the purpose of paying principal of and interest on the
<br />bonds herein authorized, which shall be spread in the mounts and collectible in
<br />the years as follows:
<br />Year Amount Year Amount Year _*mount.
<br />1967 $11,300 1977 $14,900 1987 $14,400
<br />11,800 1978 15,200 1988 14,600
<br />1969 12,200 1979 5,100 1989 14,700
<br />1970 12,600 1980 5,800 1990 14,900
<br />1971 13,000 1981 13,100 1991 15,000
<br />1972 13,400 1982 13,400 1992 15,200
<br />1973 13,800 1983 13,600 1993 13,300
<br />1974 14,100 1984 13,800 1994 15,500
<br />1975 14,300 1985 14,000 1995 15,600
<br />1976 14,600 1986 14,200
<br />T::e collections of said taxes shall be credited and maid into tae Dra ovezent Both
<br />Redemption Fund of the Village. It is hereby, estimated that the collections of
<br />the special assessments described in paragraph 4 hereof and of the taxes herein
<br />levied, and all other taxes and assessments heretofore levied and appropriated
<br />to said fund, will produce at least five per cent in excess of the anouats needed
<br />each year to meet when due the principal and interest payments on the earls herein
<br />authorized, and on all other bonds of the Village payable from the Improvement
<br />Bond Redemption Fund.
<br />The motion for the adoption of the foregoing resolution was duly seconded
<br />by tiember Malvin and upon vote being taken thereon, the following
<br />voted in favor thereof:
<br />Hodges, Blanchard, LaVaque, Rustad and Malvin
<br />
|