HomeMy WebLinkAboutgr00090_000004_pg094-006(4) It is hereby found, determined and declared that the
total cost of Waterworks Improvement No. 1960 - 3, including contract
costs, legal, engineering and fiscal costs, incidental and contingent
costs, and $6,420.00 for interest during construction is $265,745;
that not less than $235,000 of the cost of said improvement will be
assessed against properties specially benefited by said improvement,
payable in 15 equal installments with interest at the rate of 6 per
cent per annum from the date of the adoption of said assessments to
December 31, 1962, to be added to the first installment, and one year's
interest on the unpaid balance to be added to each subsequent install-
ment; that it is hereby determined that not less than $000 of said
special assessments will be prepaid and available for payment of con-
struction costs,
(5) It is hereby found, determined and declared that the
total cost of Waterworks Improvement No. 1960 - 2, including contract
costs, legal, engineering and fiscal costs, incidental and contingent
costs, and $8,580.00 for interest during construction. is $321,288;
that not less than $284,000 of the cost of said improvement will be
assessed against properties specially benefited by said improvement,
payable in 15 equal installments with interest at the rate of 6 per
cent per annum from the date of the adoption of said assessments to
December 31, 1961, to be added to the first installment, and one year's
interest on the unpaid balance to be added to each subsequent install-
ment; that it is hereby determined that not less than $40,800 of said
special assessments will be prepaid and available for payment of con-
struction costs.
(6) The previously determined cost of Waterworks Improve-
ment No. 1960 - 1 ($701,367) should be and is hereby increased to
$756,312 by reason of additional expense incurred or to be incurred
in the construction of mains connecting the wells to the water storage
facilities and other appurtenances to the water supply and storage
facilities. It is further determined and declared that the amount of
assessments levied against property specially benefited by said improve-
ments (adopted and confirmed September 12, 1960) is $512,620 or $82,620.
greater than previously estimated, which additional assessments will be
payable in cash, without interest, if paid within thirty days after
adoption or in 15 equal installments with interest at the rate of 6 per
cent per annum from date of adoption to December 31, 1961 to be added
to the first installment and one year's interest to each subsequent
installment.
(7) To defray the expenses incurred or to beincurred in
the construction of Waterworks Improvements No. 1960 - 1, 2 and 3,
it is hereby found, determined and declared that it is necessary and
expedient for the Village to borrow money and issue its general obli-
gation, negotiable coupon, Waterworks Improvement Bonds in the amount
of $585,000; and that this Council shall meet at the time and place
specified in the form of notice hereinafter contained for the purpose
of receiving and considering sealed bids for and awarding the sale of
said bonds and that the Clerk is hereby authorized and directed to cause
notice of said meeting to be published in the official newspaper and
in Commercial West, published in Minneapolis, Minnesota, at least once
not later than 10 days prior to the date of said meeting, which notice
shall be in substantially the following form:
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