1961.03.21 CC Minutes - Laserfiche WebLink

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be aCded to the first installment and one year's interest on unpaid install- ments from year to year to be added to each subsequent installment, which installments and interests shall be collectable and paid over in the same manner as real estate taxes. It is further determined that not less than ,21,242 of said assessments will be prepaid and shall be appropriated directly into the Construction Fund Account for the defrayment of the cost of said improvement. (8) For the prompt and full payment of the principal of and interest on said bonds as -the Same respectively become due, -the full faith, credit and -taxing powers of the Village are hereby irrevocably pledged. To provide money for the payment of said principal and interest as the same be- come due, -there is hereby levied upon all taxable property in the Village a direct, annual, ad valorem -tax which shall be spread upon the tax rolls for the years and in the amounts as follows, and shall be collected with and as a part of other general taxes of the Village in -the respective ensuing years. Year .271imount ",rear Amount: Year Punount 1961 - 1962 $4, 920 1968 $5,580 1974 $5,720 1963 $4, 920 1969 $5,580 1975 $5,540 19 6 ZI $ 5, lZIO 1970 $8,410 1976 $ 6, 450 1965 $5, 140 1971 $6,270 1977 $6, 210 1966 $5,360 1972 $6,090 1978 $5,980 1967 $5, 360 1973 $5,910 1979 $5,740 It is hereby found, determined and declared that said -taxes, -to- gether with installments of principal and interest on assessments to be made against 'Property specially benefited by said improvement will provide funds at least "O/O in excess of the amounts needed to pay matturing principal and interes-L. on said bonds as they respectively become due. Said taxes shall be irrepealable as long as any of said bonds are outstanding and unpaid, provided, however, that the Village reserves the right to reduce said levies in the manner ant; to the extent permitted by Minnesota Statutes, Section 475.61. (9) The Clerk is hereby authorized and directed to file with -the Coi_in-'L-.v Auditor of ',�Jfashington County a certified copy of this reso- lution, -together with such other information as -the County 2-,uditor may re- quire, and to obtain from said County Audit -or a certificate that the tax re- quired by law for the payment of said bonds has been levied and that said bonds have been entered upon his bond register. (10) The officers of the Village and said County Auditor are hereby authorized and directed to prepare and furnish to the purchaser of said bonds and to *the attorneys approving the legality of the issuance -thereof, certified copies of all proceedings and records of the Village re- lating to said bonds and to the financial condition and affairs of -the Village, and such ojCher affidavits, certificates and information as may be required -Co show the facts relating to the legality and marketability of said bonds as -they appear from -the books and records under -their custody and control or otherwise known 'Co them, and all such certified copies, certificates, and affidavits, including any heretofore furnished, shall be deemed representa- tions of -the Village as to the facts recited therein. ZVM