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and all bonds also to bear additional interest at the rate of 1.20% <br />per annum from October 1, 1966 to January 1, 1968, only. The Village <br />Treasurer is directed to retain the good faith check of said successful <br />bidder pending completion of the sale and delivery of said bonds, and <br />the checks of unsuccessful bidders shall be forthwith returned to them. <br />The motion for the adoption of the foregoing resolution was duly <br />seconded by Member Johnson and upong vote being taken thereon, the fol- <br />lowing voted in favor thereon: Rustad, Blanchard, Johnson and Lang <br />and the following voted against the same: none <br />whereupon the resolution was declared duly passed and adopted. <br />The Clerk presented a proposed form of bond and coupon for the <br />printing of $2,640,000 Improvement Bonds of 1966, which was examined by <br />all members present, approved and ordered placed on file in the office <br />of the Clerk. <br />Member Blanchard introduced the following resolution and moved <br />its adoption: <br />RESOLUTION 242 <br />RESOLUTION AUTHORIZING THE ISSUANCE, SALE AND DELIVERY <br />OF $2,640,000 IMPROVEMENT BONDS OF 1966, PAYABLE FROM THE <br />IMPROVEMENT BOND REDEMPTION FUND, AND THE REDEMPTION OF <br />$1,575,000 TEMPORARY IMPROVEMENT BONDS, AND PROVIDING <br />FOR AND APPROPRIATING SPECIAL ASSESSMENTS FOR THE <br />SUPPORT AND MAINTENANCE OF SAID FUND, AND ALSO LEVYING <br />GENERAL AD VALOREM TAXES FOR SAID FUND <br />BE IT RESOLVED by the Village Council of the Village of Mounds <br />View, Minnesota, as follows: <br />1. This Council has indestigaied the facts necessary to ascertain <br />and does hereby find, determine and declare that the Village of Mounds <br />View has heretofore ordered the construction of local improvements <br />pursuant to public hearings and notices thereof at reqUired by law, and <br />has awarded contracts for their construction, or will a+nlard contracts <br />for their construction, all as set forth below; that the total cost of <br />said improvements to the Village is estimated to be approximately equal <br />to and not less than the respective amounts shown below opposite the <br />descriptions of said improvements, including all items of cost from the <br />inception to the completion of the improvements and all fees and ex- <br />penses incurred in connection therewith, as follows: <br />Date Date Contract Total <br />Name of Improvement Ordered Awarded Estimated Cost <br />Sanitary and Storm Sewer Mar. 23 various dates <br />and Street Resurfacing Apr. 27 in 1964 -66 <br />Improvement May 11, 1964 <br />Less portion to be paid from prepayments <br />of special assessments <br />Less portion of cost financed by $1,575,000 <br />Temporary Improvement Bonds dated August 1, <br />1964 <br />3 <br />$3,984,458 <br />393.228 <br />3,591,230 <br />1.575.000 <br />2,016,230 <br />