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(4) It is hereby found, determined and declared that the
<br />total cost of Waterworks Improvement No. 1960 - 3, including contract
<br />costs, legal, engineering and fiscal costs, incidental and contingent
<br />costs, and $6,420.00 for interest during construction is $265,745;
<br />that not less than $235,000 of the cost of said improvement will be
<br />assessed against properties specially benefited by said improvement,
<br />payable in 15 equal installments with interest at the rate of 6 per
<br />cent per annum from the date of the adoption of said assessments to
<br />December 31, 1962, to be added to the first installment, and one year's
<br />interest on the unpaid balance to be added to each subsequent install-
<br />ment; that it is hereby determined that not less than $000 of said
<br />special assessments will be prepaid and available for payment of con-
<br />struction costs,
<br />(5) It is hereby found, determined and declared that the
<br />total cost of Waterworks Improvement No. 1960 - 2, including contract
<br />costs, legal, engineering and fiscal costs, incidental and contingent
<br />costs, and $8,580.00 for interest during construction. is $321,288;
<br />that not less than $284,000 of the cost of said improvement will be
<br />assessed against properties specially benefited by said improvement,
<br />payable in 15 equal installments with interest at the rate of 6 per
<br />cent per annum from the date of the adoption of said assessments to
<br />December 31, 1961, to be added to the first installment, and one year's
<br />interest on the unpaid balance to be added to each subsequent install-
<br />ment; that it is hereby determined that not less than $40,800 of said
<br />special assessments will be prepaid and available for payment of con-
<br />struction costs.
<br />(6) The previously determined cost of Waterworks Improve-
<br />ment No. 1960 - 1 ($701,367) should be and is hereby increased to
<br />$756,312 by reason of additional expense incurred or to be incurred
<br />in the construction of mains connecting the wells to the water storage
<br />facilities and other appurtenances to the water supply and storage
<br />facilities. It is further determined and declared that the amount of
<br />assessments levied against property specially benefited by said improve-
<br />ments (adopted and confirmed September 12, 1960) is $512,620 or $82,620.
<br />greater than previously estimated, which additional assessments will be
<br />payable in cash, without interest, if paid within thirty days after
<br />adoption or in 15 equal installments with interest at the rate of 6 per
<br />cent per annum from date of adoption to December 31, 1961 to be added
<br />to the first installment and one year's interest to each subsequent
<br />installment.
<br />(7) To defray the expenses incurred or to beincurred in
<br />the construction of Waterworks Improvements No. 1960 - 1, 2 and 3,
<br />it is hereby found, determined and declared that it is necessary and
<br />expedient for the Village to borrow money and issue its general obli-
<br />gation, negotiable coupon, Waterworks Improvement Bonds in the amount
<br />of $585,000; and that this Council shall meet at the time and place
<br />specified in the form of notice hereinafter contained for the purpose
<br />of receiving and considering sealed bids for and awarding the sale of
<br />said bonds and that the Clerk is hereby authorized and directed to cause
<br />notice of said meeting to be published in the official newspaper and
<br />in Commercial West, published in Minneapolis, Minnesota, at least once
<br />not later than 10 days prior to the date of said meeting, which notice
<br />shall be in substantially the following form:
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