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and used solely to pay the costs of said improvements and for the
<br />other purpose specified in said ordinance, and for the purpose of
<br />rode ^-,ing said $1,575,000 of outstanding temporary improvement bonds.
<br />The accrued interest to be received upon delivery of said bonds shall
<br />be credited and paid into the Improvement Bond Redemption Fund of the
<br />Village.
<br />4, In accordance with said ordinance, it is hereby estimated
<br />that approximately $3,000,000 principal amount of special assessments
<br />have been and will be levied on account of said Sanitary and Storm
<br />Sewer and Street Resurfacing Improvement upon properties within the
<br />area assessable for said improvement, as heretofore established by
<br />the resolutions ordering the same, and that $2,606,772 of said amount
<br />of assessments will be available for credit to the Improvement Bond
<br />Redemption Fund after the cost of the improvement is paid in full;
<br />which assessments will be paid in 30 equal annual installments, col-
<br />lectible with general taxes of the Village in consecutive years com-
<br />mencinc7, in 1966 or 1967, with interest at the rate of 6% per annum.
<br />It 3,s further estimated that approximately $99,000 principal amount
<br />o': special assessments have been or will be levied on account of the
<br />other improvements financed by the bonds herein authorized to be
<br />i,sued, and by said issue of bonds referred to above, dated April 1,
<br />195, and will be available for credit to the Improvement Bond Re-
<br />c1c :;_nt Fund after the cost of such improvements is paid in full;
<br />which assessments will be paid in 15 equal annual installments collet -
<br />ilble with general taxes of the Village in consecutive years commencing
<br />: 1966 or 1967, with interest at the rate of 6% per annum. To the
<br />.. _. ?s•;; ir,s-Lallment shall be added interest on the entire assessment on
<br />each property from the date of adoption thereof until December 31
<br />of the year in which the first installment is payable, and to each
<br />subsequent installment shall be added interest for one year on the
<br />ten. unpaid balance of the assessment. All moneys collected therefrom
<br />shall be and are hereby appropriated to the funds of said improvements
<br />and to she Improvement Bond Redemption Fund, and shall be accounted
<br />and expended in the manner provided in Ordinance No. 68. The
<br />2u1 :a.' :.h and credit of the Village is also pledged for the payment
<br />o said bonds and interest as provided in said ordinance.
<br />Thee is hereby levied a general ad valorem tax upon all
<br />'.eo' oporty in the Village for the purpose of paying principal
<br />a.!,.d. :..n';,erest on the bonds herein authorized, which shall be spread
<br />in t,„ amounts and collectible in the years as follows:
<br />i' o•ir. Year Amount Year Amount
<br />L;`,' 21,700 1977 52,100 1987 64,600
<br />)(:' 22.,00 1973 53,200 1988 63,200
<br />j= 23,300 1979 54,300 1989 61,700
<br />%400 1980 55,400 1990 60,200
<br />19'':. 4 0, 500 1931 56,500 1991 69,200
<br />/1,600 1982 62,600 1992 67,300
<br />1983 63,700 1993 65,300
<br />1974 43,800 1984 64,900 1994 63,400
<br />5 411,900 1985 67,500 1995 61,400
<br />:7_ 46,,000 1986 66,100
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