#289 08-06-63 Authorize Improvement Bonds Series A and BResolution No. 289
August 6, 1963
Member Flannagan then introduced the following resolution and
MOVED its adoption;
RESOLUTION AUTHORIZING ISSUANCE AND PROVIDING
FOR THE FORM AND DETAILS OF $2,975,000
IMPROVEMENT BONDS OF 1963, SERIES A AND B, AND
LEVYING AD VALOREM TAXES AND APPROPRIATING SPECIAL
ASSESSMENTS FCR THE PAYMENT THEREOF
BE IT RESOLVED by the Council of the Village of Golden Valley,
Minnesota, as follows:
1. This Council has investigated the facts necessary to ascertain,
and does hereby find, determine and declare that the Village of Golden
Valley has duly determined, after public hearing as required by law,
the necessity of the construction of each of the improvements described
below and the area proposed to be assessed theref or, and has ordered,
received and approved plans and specifications and entered into con-
tracts therefor after due advertisement for bids; that the total
benefits resulting from each of said improvements to the lots and
tracts of land subject to assessment therefor and to the Village at
large will be not less that the total cost of such improvement; that
the total cost of each of said improvements, including all expenses
incurred and to be incurred from its inception to its completion and
all fees and expenses in connection therewith, is estimated to be not
less than the amount set opposite the designation of such improvement
in the following tabulation:
Date
Name of Improvement Imp. Ordered
Project No. 63 W.M.T. February 19, 1963
Lateral Water Main
Improvement No. 62=WM:
Nos. 1, 24, 29, 31,112,
43,46,171,,48,50,52,
53,55,58-63,65-67,
69-.81,84,85,87-92,94
August 7, 1962
Nos. 95 and 98
August 21, 1962
No. 99
September 18, 1962
No. 56
October 16, 1962
Lateral Water Main
Improvement 63-WM:
Nos. 1,2,5-8,10-
14,16,22,25-38,40
,2,5-8,10-
14,16r22,25-38,40
41,45-56,58-61,63,
64,68 March 19, 1963
Nos. 69,71,72,76-
79,81,83-85,87,88
90-95,97
Date Con- Estimated
tract Awarded Cost
April 16, 1963 005,000
September 18, 1962
September 18, 1962
September 18, 1962
October 16, 1962%: 840,000
April 16, 1963 998,000
1
127
Resolution No 289
August 6,
1963
Date
Date Con-
Estimated
Name of Improvement
Imp. Ordered
tract Awarded
Cost
Sanitary Sewer 62 -LF:
April 17, 1962
May 15, 1962
Nos. 1 through 10
H,s192,000
Storm Sewer 62 -SS,
October 2, 1962
12,300
No. 2
Curb & Gutter 62 -CG,
4,300
No. 9
August 21, 1962
day labor
Bituminous Surfacing
62 -BS:
No. 3x: -;;
April 5, 1960
day labor
Nos. 5,16,20
June 19, 1962
it It
Nos. 22,28
August 21, 1962
it it
Nos. 26,27x„
October 3, 1961
�► ��
No. 29
September 18, 1962
14,300
Concrete Paving 62 -CP:
No. 1
June 19, 1962
August 21, 1962
2
July 10, 1962
August 21, 1962
146,500
Grading and Graveling
62 -CG:
Nos. 20
April 17, 1962
day labor
23,100
State Aid Streets:
62 -CP -4
July 10, 1962
August 21, 1962
39,500
Highway 66
May 15, 1962
$2,975,000
%,at the hearing and in later proceedings, this number was inadvertently
changed to 1�9
%%,ordered done by "add-on" contract
'cx=,62-BS-3 is the same as 60 -BS -3; this is an additional borrowing for
that improvement. 62 -BS -26 is the same as 61 -BS -44, and.62-BS-27 is the
same as 61-DS43; these are likewise additional borrowings.
that it is necessary and expedient for the Village to borrow at this time
the sum of 12,975,000, for the purpose of paying all of the expenses in-
curred in connection with the above-mentioned improvements, by the issuance
of general obligation improvement bonds in accordance with the provisions
of NT.nnesota Statutes 1957, Section 429.091; that such bonds have hereto-
fore been duly sold to Piper, Jaffray & Hopwood and Juran & Moody, Inc.,
Syndicate Managers, of Minneapolis & St. Paul, Minn,, and associates, and
shall forthwith be issued and delivered to said purchaser; that the
42,270,000 bonds of Series A hereinafter authorized shall be payable from
the Improvement Bond Redemption Fund created by Current Ordinance No. 28
of the Village, adopted on January 21, 1958, which ordinance is by refer-
ence incorporated herein and made a part hereof, while the $7055000 bonds
of Series B hereinafter authorized shall be payable from a separate sinking
fund hereinafter created; and that all acts, conditions and things required
by the Constitution and laws of the State of M]Lnnesota to be done, to exist,
to happen and to be performed preliminary to the issuance and sale of said
Resolution No. 289
August 6, 1963
bonds have been done, do exist, have happened and have been performed in
due form, time and manner as so required.
2. A separate fund is hereby created and shall be maintained for each
of the improvements financed by this issue, to be known and designated as
the "Improvement Fund", the number of each improvement as given above to
be inserted in the name of each respective fund. The proceeds of sale of
the Series A improvement bonds herein authorized shall be credited to each
of said funds in the amount of the estimated cost of the improvement to
which such fund pertains. To said improvement funds there shall also be
credited the proceeds of sale of additional improvement bonds which may here-
after be authorized for the purpose of paying the expenses of making said
improvements, and such available moneys of the Village which may hereafter
be appropriated thereto by the Council, all as may be directed by further
resolutions of the Council.
3. There is hereby also created a special fund to be designated as
the "Project No. 63 W.M.T. Improvement Fund," to be held and administered
by the Village Treasurer separate and apart from all other funds of the
Village. The proceeds of sale of Series B bonds and the collections of
special assessments and general ad valorem taxes levied for said Project
No. 63 W.M.T. Improvement, and any other moneys appropriated to said fund
by the Village Council, shall be credited and paid to said fund, and shall
be used solely to defray the expenses of making said improvement and to pay
principal of and interest on said Series B bonds; provided, however, that
if additional bonds are issued to finance said improvement, the proceeds
of their sale shall be credited and paid to said fund, and the moneys
therein shall also be used to pay principal of and interest on such addi-
tional bonds. Upon completion and payment of all costs of making said
improvement, said fund shall be discontinued, and all moneys therein
not transferred by the Council to the fund of another improvement insti-
tuted pursuant to 14.nnesota Statutes, Chapter 429, and all subsequent
collections of special assessments and taxes levied for said improvement
shall be credited and paid into a separate sinking fund which is hereby
created for said Series B bonds herein authorized and for all bonds of
the Village hereafter issued to finance water trunk main and water storage
improvements, which is hereby designated as the "Water Trunk Main Bond
Fund." The moneys in said fund shall be used solely for the purpose
of paying principal and interest on said Series B bonds and on such
other bonds issued to finance such improvements which the Council may
order made payable therefrom.
4. It is hereby determined that not less than 41'P355,000 of the cost
of Project No. 63 W.M.T. and $2,270,000 of the cost of the remaining
improvements described in paragraph l above shall be paid by the levy
of special assessments upon all assessable lots and tracts of land
lying within the assessable areas heretofore specified in the respective
resolutions ordering said improvements, based upon the special benefits
received by each such lot and tract. The Village hereby covenants and
agrees that it will do and perform, as soon as may be, all acts and things
necessary for the final and valid levy of said assessments. In the event
l
129
Resolution No. 289 August 6, 1963
that any such assessment be at any time held invalid with respect to any
lot or tract of land, due to any error, defect or irregularity in any
action or proceedings taken or to be taken by the Village or by this
Council or by any of the Villagets officers or employees, either in the
making of such assessment or in the performance of any condition precedent
thereto, the Village hereby covenants and agrees that it will forthwith
do all such further acts and take all such further proceedings as shall
be required by law to make such assessment a valid and binding lien
upon said property. Said assessments shall be payable in equal, con-
secutive, annual, installments, the number of installments to be as
follows:
Type of Improvement Number of Installments
Lateral Water 20
Trunk Water Main 20
Sanitary Sewer 20
Bituminous Surfacing 5
All other 10
The first insalllment of all said assessments shall be certified to the
County Auditor for collection with general tzxes for the year 1963, and
the remaining installments of said assessments shall be certified for
collection with the general taxes for each subsequent consecutive year
until the assessment is paid. To the first installment shall be added
interest at the rate of 6% per annum on the entire assessment from the
date of the resolution levying the assessment until December 31 of the
year in which the first installment is payable. To each subsequent
installment shall be added interest at 6% per annum for one year on
all unpaid installments.
5. The full faith and credit of the Village shall be and is hereby
pledged to the prompt and full payment of said bonds and the interest
thereon. Each and all of the provisions of said Ordinance No. 28 of the
Village and of this resolution shall constitute covenants for the security
of the holders from time to time of said Series A bonds. It is estimated
that the collections of said special assessments agreed to be levied in
paragraph 3 above for the improvements other than Project No. 63 W.M.T.
will produce sums not less than 5% in excess of the amounts needed to
pay principal and interest of the bonds of Series A when due, in accordance
with the provisions of Minnesota Statutes, Section 475.61.
6. It is hereby determined that the remainder of the cost of said
Project No. 63 W.M.T., not paid by collections of said special assess-
ments, shall be paid from general ad valorem taxes levied on all of the
taxable property in the Village, and that said portion of the cost will
not exceed the total benefits to be conferred by said improvement upon
the Village at large. To provide moneys for the payment of such portion
of the cost, there is hereby levied upon all of the 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 stated below, said levies
to be collected together with and as a part of other general property
tases in the respective ensuing years:
130
Resolution No. 289
August 6, 1963
Year Amount Year Amount
1963
'?, 9,200
1972
$21,800
1964
23,300
1973
21,600
1965
23,100
1974
21,400
1966
233000
1975
21,100
1967
22,800
1976
20,900
1968
22,700
1977
20,600
1969
22,500
1978
20,00
1970
22,200
1979
20,100
1971
22,000
1980
19,800
125,000
3.30%
1981
19,600
3.30%
1970
1982
19000
Said taxes shall be irrepealable as long as any of said bonds of Series B
are outstanding and unpaid; provided, that the Village reserves the right
and power to reduce said levies by the amount of any moneys irrevocably
appropriated to and actually paid into the Project No. 63 W.M.T. Improvement
Fund or into the Water Trunk Main Bond Fund, other than the taxes and assess-
ments herein pledged to said fund, in accordance with the provisions of Minne-
sota Statutes, Section 475.61, as amended.
7. For the purpose of paying costs of said improvements and in antici-
pation of the collection of said special assessments and taxes, the Village
shall forthwith issue its negotiable coupon general obligation Improvement
Bonds of 1963, Series A and B, in the principal amount of $2,975,000. Said
bonds shall be dated as of August 1, 1963, each in the denomination of Various.
The bonds of Series A, in the principal amount of $2,270,000 shall be 454 in
number, numbered serially from 1 to 454, and the bonds of Series B, in the
principal amount of $405,000, shall be 617 in number, numbered serially from
1 to 617. The bonds of each series shall mature in order of serial numbers, on
February 1, in the years and amounts set forth below, the bonds of the various
maturities to bear interest at the rate per annum set forth opposite such
respective maturities, as follows:
Series A
Series
B
Year
Amou-7—Interest Rate
Year
Amok
Interest Rate
1965
$120,000
3.30%
1965
$40,000
3.30%
1966
125,000
3.30%
1966
35,000
3.30%
1967
125,000
3.30%
1967
35,000
3.30%
1968
125,000
3.30%
1968
35,000
3.30%
1969
125,000
3.30%
1969
35,000
3.30%
1970
125,000
3.50%
1970
35,000
3.50%
1971
125,000
3.50%
1971
35,000
3.50%
1972
125,000
3.50%
1972
35,000
3.50%
1973
125,000
3.50%
1973
35,000
3.50%
1971
125,000
3.50%
1974
35,000
3.501%
1975
100,000
3.50%
1975
35,000
3.50%
u
1
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131
Resolution No. 289
Series A
Year Amo�� Interest Rate
August 6, 1963
Series B
Year AmountInterest Rate
1976
$loO,000
3.50%
1976
$35,000
3.500
1977
100,000
3.60%
1977
35,000
3.60%
1978
100,000
3.60%
1978
35,000
3.600
1979
100,000
3.6o%
1979
35,000
3.6%
1980
105,000
3.600
1980
35,000
3.60%
1981
105,000
3.600
1981
35,000
3.60%
1982
105,000
3.600
1982
35,000
3.60%
1983
105,000
3.700
1983
35,000
3.70%
1984
1o5,000
3.70/'
1984
35,000
3.70%
In addition, all bonds shall bear interest at the rate of 1.20% per annum
from October 1, 1963, to August 1, 1964, such additional interest to be
represented by a separate set of "B" coupons appurtenant to each bond. All
interest shall be payable on February 1, 1964, and se�ni.nnually thereafter on
each August 1 and each February 1. Bonds of each series maturing in the years
1961 through 1979 shall be payable on their respective stated maturity dates,
without option of prior payment. Bonds of each series which have stated
maturity dates in 1980 and later years shall each be subject to redemption
and prepayment in inverse order of serial numbers, at the option of the
Village, on February 1, 1979, and any interest payment date thereafter, at
par and accrued interest. All such redemptions shall be made on notice of
call mailed not less than thirty days prior to the date specified for re-
demption to the holder, if known, and to the bank at which principal and
interest on said bonds are then payable. The Village Clerk and his successors
in office are hereby authorized and directed to maintain a register for the
purpose of recording the names and addresses of holders of redeemable bonds,
and the serial numbers of bonds held by them, insofar as such information is
made available to said Clerk and his successors in office. The principal of
and interest on said bonds shall be payable at the main office of the North-
western National Bank of Minneapolis in IfLnneapolis, Minnesota,and the Village
hereby agrees to pay the reasonable customary charges of said paying agent
for the receipt and disbursement thereof.
8. Said improvement bonds and the coupons attached thereto shall be
in substantially the following form;
UNITED STATES OF ATRICA
STATE OF MINNESCITA
COUNTY OF HEIN]NEPIN
VILLAGE OF GOLDEN VALLEY
DIPROVEIMT BOND OF 1963, SERIES A
No.
e
KNOW ALL IEN BY THESE PRESENTS that the Village of Golden Valley,
a duly organized and existing municipal corporation of the County of
Hennepin, State of Minnesota, acknowledges itself to be indebted and for
value received promises to pay to bearer the sure of THOUSAND DOLLARS
13
Resolution No. 289 August 6, 1963
on the lst day of February, 19 , or, if this bond is redeemable as stated
below, on a date prior thereto on which it shall have been duly called for
redemption and to pay interest theron from the date hereof until said principal
sum be paid or until this bond, if redeemable, has been duly called for re-
demption, at the rate of per cent ( %) per annum, plus additional
interest from , 19 , to , 19 , at the rate of
percent ( %) per annum, all interest being payable February 1, 1964, and
semiannually thereafter on August 1 and February 1 of each year, interest to
maturity being represented by and payable in accordance with and upon pre-
sentation and surrender of the interest coupons appurtenant hereto, the
additional interest hereinbefore mentioned being represented by a separate
set of "B" coupons. Both principal and interest are payable at the main
office of , in ,in
any coin or currency of the United States of America which on the respecitve
dates of payment is legal tender for public and private debts. For the prompt
and full payment of such principal and interest as the same respectively become
due the full faith, credit and taxing powers of the Village are hereby irrevo-
cably pledged.
This bond is one of a series in the aggregate principal amount of
X2,270,000, all of like date and tenor except as to serial number, maturity,
redemption privilege and interest rate, all issued for the purpose of defraying
expenses incurred and to be incurred in constructing local improvements in said
Village, and is issued pursuant to and in full conformity with the Constitution
and laws of the State of Minnesota thereunto enabling, and pursuant to resolu-
tions duly adopted by the Village Council. This bond is payable primarily from
the Improvement Bond Redemption Fund of the Village, to which fund the Council
has appropriated special assessments which the Village has covenanted and agreed
to levy for the payment of the cost of said improvement, but the Village Council
is required to pay the same out of any fund of the Village in the event that
the assessments collected are at any time insufficient to meet the payment of
maturing principal and interest.
Bonds of this series bearing serial numbers 1 through are payable
on their respective stated maturity dates, without option of prior payment.
Bonds of this series bearing serial numbers through , maturing in
1980 and later years, are each subject to redemption and prepayment, at the
option of the Village, in inverse order of serial numbers, on February 1, 1979,
and any subsequent interest payment date, at par and accrued interest. All re-
demptions will be made on notice of call for redemption mailed not less than 30
days prior to the date specified for redemption to the holder, if known, and to
the bank at which principal and interest are then payable. Any holder of redeem-
able bonds desiring to receive such notice must register his name and address
and the serial numbers of redeemable bonds held by him in the office of the
Village Clerk.
IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts,
conditions and things required by the Constitution and laws of the State of
Plinnesota to be done, to exist, to happen and to be performed preliminary to
and in the issuance of this bond in order to make it a valid and binding gen-
eral obligation of said Village according to its terms have been done, do exist,
1
Resolution No. 289
August 6, 1963
133
have happened and have been performed as so required; that the estimated collec-
tions of said special assessments will be in the years and amounts sufficient
to produce sums not less than five per cent (510) in excess of the amounts re-
quired for payment when due of the principal and interest on all bonds of this
issue; that general ad valorem taxes, if needed for the payment of such princi-
pal and interest, may be levied upon all taxable property in the Village with-
out 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.
D1 'WITNESS ,ZMEOF the Village of Golden Valley, Hennepin County,
Minnesota, by its Village Council, has caused this bond to be executed in
its behalf by the facsimile signature of its 1Niayor and the manual signature
of its Village Manager, and sealed with its official seal, and the interest
coupons appurtenant hereto and the certificate on the reverse side hereof
to be executed and authenticated by the facsimile signatures of said officers
and has caused this bond to be dated as of August 1, 1963.
(Facsimile signature)
Mayor
Village Manager
(Form of certificate to be printed on the back of
each bond following legal opinion)
°,e certify that the above is a full, true and correct copy of the
legal opinion rendered by bond counsel on the issue of bonds of the Village
of Golden Valley, Minnesota, which includes the within bond, dated as of the
date of delivery of and payment for the bonds.
(Facsimile signature)
Village Manager
(Form of Coupon)
No.
(Facsimile signature)
Mayor
r,•
On the 1st day of August (February), 19 , the Village of Golden
Valley, Hennepin County, Minnesota, will pay to bearer at the main office
of
in , , the sum shown hereon in lawful money
of the United States of America for interest then due on its Improvement
Bond of 1963, Series A, dated August 1, 1963, No.
(Facsimile signature) (Facsimile signature)
Village Manager Mayor
134
Resolution No. 289 August 6, 1963
COUNTY OF HENNEPIN
VILLAGE OF GOLDEN VALLEY
TNlMOVEMENT BOND OF 1963, SERIES B
No.
KNOW ALL MEN BY THESE PRESENTS that the Village of Golden Valley, a
duly organized and existing municipal corporation of the County of Hennepin,
State of Tannesota, acknowledges itself to be indebted and for value received
promises to pay to bearer the sum of THOUSAND DOLLARS on the lst day of
February, 19 , or, if this bond is redeemable as stated below, on a date
prior thereto on which it shall have been duly called for redemption, and to
pay interest thereon from the date hereof until said principal sum be paid,
or until this bond, if redeemable, has been duly called for redemption, at
the rate of per cent ( %)
per annum, plus additional interest from , 19 , to ,
19 , at the rate of per cent ( o) per
annum, all interest being payable February 1, 1964, and semi-annually there-
after on August 1 and February 1 of each year, interest to maturity being
represented by and payable in accordance with and upon presentation and
surrender of the interest coupons appurtenant hereto, the additional interest
hereinbefore mentioned being represented by a separate set of "B" coupons.
Both principal and interest are payable at the main office of
, in
in any coin or currency of the United States of America which on the respective
dates of payment is legal tender for public and private debts. For the prompt
and full payment of such principal and interest as the same respectively
become due the faith, credit and taxing powers of the Village are hereby irrevo-
cably pledged.
This bond is one of a series in the aggregate principal amount of
$705,000, all of like date and tenor except as to serial number, maturity,
redemption privilege and interest rate, all issued for the purpose of de-
fraying expenses incurred and to be incurred in constructing a local water-
works improvement in said Village designated as Project No. 63 W.M.T., and
is issued pursuant to and in full conformity with the Constitution and laws
of the State of TEnnesota thereunto enabling, and pursuant to resolutions duly
adopted by the Village Council. This bond is payable primarily from the Water
Trunk Main Bond Fund of the Village, to which fund the Council has appropriated
general ad valorem taxes levied by the Village, and special assessments which
the Village has covenanted and agreed to levy, for the payment of the cost of
said improvement, but the Village Council is required to pay the same out of
any fund of the Village in the event that the taxes and assessments collected
are at any time insufficient to meet the payment of maturing principal and
interest.
Bonds of this series bearing serial numbers 1 through are pay-
able on their respective stated maturity dates, without option of prior
payment. Bonds of this series bearing serial numbers through 5
135
Resolution No. 289 August 6,1963
maturing in 1980 and later years, are each subject to redemption and pre-
payment, at the option of the Village, in inverse order of serial numbers,
on February 1, 1979, and any subsequent interest payment date, at par and
accrued interest. All redemptions will be made on notice of call for re-
demption mailed not less than 30 days prior to the date specified for re-
demption to the date specified for redemption to the holder, if known, and
to the bank at which principal and interest are then payable. Any holder of
redeemable bonds desiring to receive such notice must register his name and
address and the serial numbers of redeemable bonds held by him in the office
of the Village Clerk.
IT IS HEREBY CERTIFIED, RECI'T'ED, 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 preliminary 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
estimated collections of said special assessments and general ad valorem
taxes will be in the years and amounts sufficient to produce sums not
less than five per cent (5%) in excess of the amounts required for pay-
ment when due of the principal and interest on all bonds of this issue;
that additional taxes, if needed for the payment of such principal and
interest, may 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 WITNESS WHEREOF the Village of Golden Valley, Hennepin County,
Minnesota, by its Village Council, has caused this bond to be executed in
its behalf by the facsimile signature of its Mayor and the manual signature
of its Village Manager, and sealed with its official seal, and the interest
coupons appurtenant hereto and the certificate on the reverse side hereof
to be executed and authenticated by the facsimile signatures of said officers,
and has caused this bond to be dated as of August 1, 1963.
(Facsimile signature)
Mayor
Village Manager
(Form of certificate to be printed on the back of
each bond following legal opinion)
We certify that the above is a full, true and correct copy of the
legal opinion rendered by bond counsel on the issue of bonds of the Village
of Golden Valley, IfLnnesota, which includes the within bond, dated as of
the date of delivery of and payment for the bond;.
(Facsimile signature)
Mayor
(Facsimile signature)
Village Manager
136
Resolution No. 289
(Form of Coupon)
No.
August 6, 1963
(
On the lst day of August (February), 19 , the Village of Golden
Valley, Hennepin County, Minnesota, will pay to bearer at the main office
of ,
in , , the sum shown hereon in lawful
money of the United States of America for interest then due on its Improve-
ment Bond of 1963, Series B, dated August 1, 1963, No.
(Facsimile signature)
Mayor
(Facsimile signature)
Village Manager
(Coupons numbered 32 and up shall state: "Unless the
bond described below is called for earlier redemption")
9. Said bonds shall be forthwith prepared for execution under the
direction of the Village Manager and shall then be executed by the fac-
simile signature of the Mayor and the manual signature of the Village
Manager and sealed with the corporate seal of the Village. The appurten-
ant interest coupons shall be executed and authenticated by the printed,
lithographed or engraved facsimile signatures of said Mayor and Village
Manager, and the certificate as to legal opinion on the back of each
bond shall be executed by the printed, lithographed or engraved facsimile
signatures of the Mayor and Village Manager. When so executed, the bonds
shall be delivered by the Treasurer to the purchaser thereof, upon payment
of the purchase price heretofore agreed upon, and said purchaser shall
not be obligated to see to the application of the purchase price.
10. The Village Clerk is hereby authorized and directed to transmit
a certified copy of this resolution to the County Auditor of Hennepin
County for certification that the bonds herein authorized have been duly
registered, and that the tax required by law for the payment thereof has
been duly levied, as required by Minnesota Statutes, Sections 475.61
through 475.63.
11. The officers of the Village and the County Auditor of Hennepin
County 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 relating to said
bonds and to the financial affairs of the Village and such other affidavits,
certificates and information as may be required to show the facts relating
to the legality and marketability of said bonds as the same appear from the
gooks and records under their custody and control or as otherwise known to
them; and all such certified copies, certificates and affidavits, includ-
ing any heretofore furnished, shall be deemed representations of the Village
as to the facts recited therein.
L
1
fl
Resolution No. 289
Mayor
Attest�.i�z��>
Village Clerk
August 6, 1963
The motion for adoption of the foregoing resolution was duly seconded
by Member Cliff Teresi, and upon vote being taken theron, the following
voted in favor thereof: Flannagan, Nadasdy, Scherer and Teresi and the
following voted against the same: None, whereupon said resolution was
declared duly passed and adopted and was signed by the Mayor and attested
by the Village Clerk.
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