Minutes - 1966/06/20 - Laserfiche WebLink

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.1'17 77) and used solely to pay the costs of said improvements and for the other purpose specified in said ordinance, and for the purpose of rede said $1,575,000 of outstanding temporary improvement bonds. The accrued interest to be received upon delivery of said bonds shall be credited ardpaid into the Improvement Bond Redemption Fund of the Village. 4, In accordance with said ordinance, it is hereby estimated that approximately $3,000,000 principal amount of special assessments have been and will be levied on account of said Sanitary and Storm Sewer and Street Resurfacing Improvement upon properties within the area assessable for said improvement, as heretofore established by the resolutions ordering the same, and that $2,606,772 of said amount of assessments will be available for credit to the Improvement Bond Redemption Fund after the cost of the improvement is paid in full; which assessments will be paid in 30 equal annual installments, col- lectible with general taxes of the Village in consecutive years com- meneino in 1966 or 1967, with interest at the rate of 6% per annum. It is further estimated that approximately $99,000 principal amount of special assessments have been or will be levied on account of the other improvements financed by the bonds herein authorized to be issuld, and by said issue of bonds referred to above, dated April 1. 196, and will be available for credit to the Improvement Bond Re- dcmptinn Fund after the cost of such improvements is paid in full; Which assessments will be paid in 15 equal annual installments collec- tible with general taxes of the Village in consecutive years commencing in 1966 or 1967, with interest at the rte of 6% per annum. To the :Hrat installment shall be added interest on the entire assessment on each property from the date of adoption thereof until December 31 of the year in which the first installment is payable, and to each subsequent installment shall be added interest for one year on the in unpaid balance of the assessment. All moneys collected therefrom shall be and are hereby appropriated to the funds of said improvements and to the improvement Bond Redemption Fund, and shall be accounted and expended in the manner provided in Ordinance No. 68. The 2u1l faith and credit of the Village is also pledged for the payment e-2 said bends and interest as provided in said ordinance. There is hereby levied a general ad valorem tax upon all operty in the Village for the purpose of paying principal nx and interest on the bonds herein authorized, which shall be spread in the emounts and collectible in the years as follows: 197e Year Amount AN:: Amount 21, 1977 52,100 1987 64,600 1973 53,200 1988 63,200 23 1979 54,300 1989 61,700 21:,400 1980 55,400 1990 60,200 40,500 1931 56,500 1991 69,200 z.1.600 1982 62,600 1992 67,300 1983 63,700 1993 65,300 43,800 1984 64,900 1994 63,400 4/!,900 1985 67,500 1995 61,400 lr.:,000 1936 66,100 -6-