1961.03.21 CC Minutes - Laserfiche WebLink

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interest. Such redemption shall be made upon thirty (30) days prior notice by mail to the bank where said bonds are payable and to the last known holder. Holders of said bonds desiring to receive such notice must register their names, addresses and bond numbers with the Village Clerk. This bond is one of a series in the aggregate principal amount of $160,000, all of like date and tenor except as to maturity, interest rate and redemption privilege; all issued by the Village for the purpose of paying the costs of constructing waterworks improvements in said Village and issued pursuant to and in full conformity with resolutions duly adopted by the Village Council of said Village after hearings as required by law and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota t-hereunto enabling, including Minnesota Statutes, Chapter 429. This bond is payable primarily from Waterworks Improvement Bond Sinking Fund of 1961, but the Council is requ ired to pay the principal and interest hereof out of any funds in the -treasury in the event the money on hand in said fund is at any time insufficient to meet the payment of maturing principal and interest. IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED That all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed pre- liminary to and in the issuance of this bond in order to make it a valid and binding general obligation of said Village according to its terms have been done, do exist, have happened and have been performed as so required; that -the Village has duly determined the necessity of and contracted for the construction of said waterworks improvements; that the Waterworks Im- Provement Bond Sinking Fund of 1961 has been duly created and provision made for the support -thereof by ad valorem taxes heretofore levied and special assessments to be levied for the years and in aggregate amounts not less thanjoyd in excess of sums sufficient to Pav the interest hereon and the principal hereof as they respectively become due; and that addition- al taxes, if needed, will be levied upon all -taxable property in the Village without limitation as to rate or amount; and that the issuance of this bond did not cause -the indebtedness of said Village to exceed any constitutional or statutory limitation. IN 1.1ITNESS WHEREOF, the Village of Hugo, Washing -ton Countv, Minne- sota, by its Village Council, has caused this bond to be executed in its behalf by the signature of its Mayor and attested by -the signature of the Village Clerk and sealed with its official seal, and the interest coupons appurtenant hereto to be executed and authenticated by the facsimile signa- tures of said officers, and has caused this bond to be dated as of May 1, 1961. MAYOR 2V-L'TEST: VILLAGE VITTAGE CLERK (SEAL) -5-