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approved and ordered placed on file in the office of the Clerk.
<br />Member Johnson introduced the following resolution and moved
<br />its adoption:
<br />RESOLUTION AUTHORIZING THE ISSUANCE, SALE
<br />AND DELIVERY OF $205,000 IMPROVEMENT BONDS
<br />OF 1969, PAYABLE FROM THE IMPROVEMENT BOND
<br />REDEMPTION FUND, AND PROVIDING FOR AND
<br />APPROPRIATING SPECIAL ASSESSMENTS FOR THE
<br />SUPPORT AND MAINTENANCE OF SAID FUND,
<br />HE IT RESOLVED by the Village Council of the Village of Mounds View,
<br />Minnesota, as follows:
<br />1. This Council has investigated the facts necessary xo ascertain and
<br />doe° hereby find determine and declare that the Village of Mounds View has here
<br />tofore ordered the construction of 1968 -2 Improvement (including 1969 -1), 1969 -3
<br />Improvement and 1969 -4 Improvement pursuant to public hearings and notices thereof
<br />as required by law, and has awarded contracts for their construction, or will award
<br />contracts for their construction; that the total benefits resulting from said
<br />improvements to the eaeeesable lots, pieces and parcels of land affected thereby
<br />and to the Pillage at large will be substantially in excess of the total coat of
<br />such improvements; that in order to pay the coat of constructing said improvements
<br />this Council has sold 82 Improvement Bonds of 1969; that said bonds should be
<br />and are hereby made payable from the Improvement Bond Redemption 'Fund of the
<br />Village, in accordance with the provisions of Ordinance 140. 68 of the Village,
<br />adopted on May 25, 1960, and shall be secured by all covenants and governed by all
<br />the terms and provisions set forth in said ordinance, and that all acts, conditions
<br />and things required by the Constitution and laws of the State of Minnesota to be
<br />done, to exist, to happen and to be performed preliminary to the issuance and sale
<br />of said bonds to provide moneys to pay for said improvements have been done,
<br />do exist, have happened and have been performed in due form, time and manner as
<br />2. Said bonds shall be dated November 1, 1969, shall be numbered seri-
<br />ally from 1 to 41, inclusive, each in the denomination of $5,000, shall Mature
<br />serially on February 1 in the respective years and amounts set forth below, and
<br />the bonds of each annual maturity shall bear interest until paid or duly called for
<br />redemption at the rate shown below opposite the year of such maturity, as follows:
<br />Interest Inter t
<br />Year Amount Rate Year Amount Rate
<br />1972 $15,000 6.802 1982 5,000 6 80
<br />1973 15,000 6.802 1983 10,000 6.80%
<br />1974 15,000 6.80% 1984 10,000 6.80%
<br />1975 15,000 6.802 1985 5,000 6.80%
<br />1976 15,000 6.802 1986 10,000 6
<br />1977 10,000 6.802 1987 5,000 6 80
<br />1978 10,000 6.802 1988 10,000 6.802
<br />1979 10,000 6.802 1989 10,000 6.80%
<br />1980 10,000 6.80% 1990 5,000 6.80%
<br />1981 10,000 6.802 1991 10,000 6.80
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