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lb. l 1 <br />Subdivision S. TLWirdU lTkrovement Bonds_ In is <br />antics ation of the iasuance of im rovement bonds, [tie ccouncrl <br />matur nrer0thtn notissue <br />moreathan110 ethroe ears ram <br />rt eemcntdatenos <br />issue to pay any part or al o the cost o one or more im ro <br />menta. To the extent that the rind al o and inter st vee- <br />on the <br />temporary improvement bon Is cannot a psi r an ue rom race pis <br />—r--_T7 r.. r�raa, or other [unaa a roor�or <br />Se at from t e roceede of tm ruvamc— <br />tRe urecouncrl <br />o�tbons <br />soran ement <br />shall offer for eale in advance of their mdturit but the <br />OR ebte near un ed lean ssue o Lem orar m rovement bonds <br />shalll —or Tt hr_ extended tithe issue n rid iti,_na- fomWrar <br />im rovement bonda for more than six ears from the date o the <br />first issue. The holders o an to; <br />rer im rovement n s <br />shall have and me en orce, b�man amus or of Per a ro cease <br />roreedrn s, aall n hts rus ectin ire ev and co ection of <br />sufficient s ecia assessments an taxes to a t iscost o� the <br />im rovements financed by them which are granted by law to holdara <br />o im rovement bonds exce t the ri ht to require the levies to <br />be co ected rior to the maturity of the tempo <br />bonds I any temporary im rovement bonds ere not aid to full <br />at maturity, the holders may require the issuance in exc awitn a for <br />them, at or of new Lem orar tm rovement bonds mats rin within • <br />one year rom t e r date o issue (but not eublect to any of er <br />mature[ limttatlonl end bearin interest at the maximum rate <br />permitted by ar. <br />Subdivision 6. Investment Of Other Murici°al Funds. <br />cunds of a n nicipality mlaje be invested in its rem rar <br />incrocement fonds in accordance with t e rovtsions o Minnesota <br />Statutes 111.56, arm �be�u.rchase u n ter .tttta issue, <br />but• sail "ne�ur�c aced only Lrom <un a which the rouvci�— <br />decermines v— -iII not be re uireu-lr other cr nos a ore the <br />matuiit ate�an� s al be -esol be ore maturI s In�cas�e <br />u rmergency. If DUrse�Os' a do t service un securtnC <br />other bonds the holders c those bonds ma en orce the <br />muntci alit 's ob,i a[ onb on t Is temporary im rovement bonds in <br />s same manner as t eY a t PetooP°rary mDrovemunt onoe_ <br />