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Resolution 0928
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00500 - 00999 (1970-1979)
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Resolution 0928
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Last modified
10/30/2019 8:47:58 AM
Creation date
7/17/2018 7:44:50 AM
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MV City Council
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Resolutions
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t <br />i. 1 1, il o <br />I in P I ov TV" li t ( k' it k i kic t 1 On i tj ri(i ho I tz I I ' 'j I i V f I V i i f I r f�ij t 0 a P <br />t he ( o n t.. r ij,, t i 6 ri [-it I id ) , 1 0 1— aii] --idminir-.tvrVd by I t-.0 <br />City Clrrk-Adminit�triituir f-. 0 11 T, ii ri:i a pn r t 1 r c..rr-. it I I c-, t h v r <br />f und a (if tjj(T C- i ( y It'l C i ty i t, <br />ve. <br />t i on Ptj i -in ( a ) t fit, p r ocv_,_7d:-, or thfi c a*le of 111, - , i - - - <br />(b) all collcotloral of 5pocial Jov itAl t�"r tile <br />1mprovF-mPr,t5 11--a4V4*1.un1L of oil of <br />the litiprcvetnentm, ri'liv Congtriji-tion Fund shn.11 1�-& usod <br />n o 1 #7 1 V t t) (I �� f f AY (_�Yj I r, 1 k j,j I ric <br />_j p I I J, f t 11i. Jjtjjjr(jVt,ffj[,tjt 1 but <br />not limit -cid to t he- tranotur to llic 1970 Improvoment bno'd <br />U, <br />Fund, cfv'stv] pu;.-uant tu bccL'"on 4. 12 hereof, of tirio,jtitr <br />sufficient for tho payn-it-rit of Jfitol��r-,L and pr iricipl.1, if <br />any, duL upori Lho U�;iri.UIL prior Lo thc-- ou-iriplution and- paymerit <br />Of all Cot,Lb ut the linpluvemunt.L. t1puli complut ion iiind pay- <br />meriL of all co6i.8 of tllt± tj�ny j;"lf4ljce of the <br />proceeds of Bondn romwininq . in the Con-itriwt- - 1 on �'tin(l mny be <br />used to pay tho cost, in whole ]Dr in par�t, of ahy� Other <br />improyomentp, inot.it-Uted purn ' uni-it to Minnc-rot-n fli-tittites, <br />Chaptet 419, ou direc�tvd by the City Coullcill but any <br />b0lhhOe of such prortiodo not An used MiRll hp rredlt;/d anri <br />pald- to tile 1970 Improvement Brinj rL11-1d. <br />4.02. 197h ImproveLijnt Pond Fund. So long ja any of <br />tile o/unds 1�3-3—ny -P—rUllinipaj of or irittrest <br />thormor, unpaid, tho City Clerh-Adminietratur -.hall maintain <br />a separate And special 1976 Imptovent-ent DoO F-,jn-.1 (harein- <br />aftee referred to 4# tile- Bond Fund) to ue used for nj pur- <br />P936 Dth#-'- th*fl the PhYmont )r V14 PrInetpal of and Intor-est <br />on tho bouds and rjri �iuuh otfiei= Improvemont bindn of tbe city <br />an have been f.)r pay be directel to be pal,3 therefrem. The <br />V; City.itrevocabl,,- ippropriates to tile itiond Fund 10 th@ <br />c011ectiOtill Of 8WItil flEfiessmer-to and other finds to be <br />crodliite4 dnd P41111 Lhereto In ticcordance W�th the provisions <br />(b) any taxot levied In acoortl;lince with <br />Wu rosolution, mod jc) all much other moneys an Rhall be <br />recolved and appropriated to the Dond Fund from time tn <br />time. It the balince in the Dond Fund Jrt IT it- ally time <br />Ltiguff:tlent to pay all int�rczl: and principal thon due on <br />411 bondi; payable thernfrum, 1.1-10 Papit"JiL rhall be made �rom <br />any tund of thirt City which ift available for Uat purpone, <br />GubJect to reimhurportiont front thp lioncl rund whtn the balance <br />therein (a oulffirtvnt, i -int, '-'-Yj;' <br />that it will vach year IVVY Sutticl0lt altiOuilL to Like care - <br />of allu ACCUMtllR-tj-:d of- tolt lei patv6l duf ikalvney, which levy iij <br />not nubject to any voo.ltitution.il or rtatutory tax limiLa- <br />tion. <br />-9- <br />
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