#188 10-05-70 Approve State Aid Bonds1
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Resolution No. 188
October 5 , 1
Member Bies introduced the following resolution and MOVED its adoption:
RESOLUTION
(State Aid Bonds)
Village of Golden Valley
WHEREAS, the Village of Golden Valley has issued and sold bonds, dated
October 21, 1969, in the amount of $450,000.00 exclusively for the purpose of
establishing, locating, relocating, constructing, reconstructing or improving
its State -Aid Highways in accordance with Law.
WHEREAS, said Village of Golden Valley has irrevocably pledged to the
sinking fund from which said obligations are payable, that amount of their
future State -Aid allotments as is permissable by Law and needed to pay the
principal and interest thereon; which principal payments shall be made from
the Regular construction account of such State -Aid fund and the interest pay-
ments made from their Regular State -Aid maintenance account, all as detailed
herein:
YEAR
DATE
PRINCIPAL
INTEREST
1970
2/1
$20,000.00
$ 6,695.00
8/1
12,810.00
1971
2/1
20,000.00
12,810.00
8/1
12,230.00
1972
2/1
20,000.00
12,230.00
8/1
11,650.00
1973
2/1
20,000.00
11,650.00
8/1
11,070.00
1974
2/1
20,000.00
11,070.00
8/1
10,490.00
1975
2/1
20,000.00
10,490.00
8/1
9,910.00
1976
2/1
40,000.00
9,910.00
8/1
8,750.00
1977
2/1
4o,000.00
8,750.00
8/1
7,570.00
1978
2/1
40,000-00
7,570-00
8/1
6,390.00
1979
2/1
40,000.00
6,390.00
8/1
5,190.00
1980
2/1
40,000.00
5,190.00
8/1
31990.00
1981
2/1
40,000.00
3,990.00
8/1
2,790.00
1982
2/1
30,000.00
2,790.00
8/1
1,86o.00
1983
2/1
30,000-00
1, 86o. oo
8/1
930.00
1984
2/1
30,000-00
930.00
TOTAL DUE
39,505.00
45,040.00
43,880.00
42,720.00
41,56o.00
40,400.00
58,660.00
56,320.00
53,960.00
51,580,00
49,180.00
46,780.00
34,650.00
32,790.00
30,930.00
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Resolution No. 188
NOW THEREFORE, BE IT RESOLVED:
and is hereby requested to keen a bond
Golden Valley.
October 5, 1970
That the Commissioner of Highways be
record in his office for the Village of
BE IT FURTHER RESOLVED: That the Commissioner of Highways be and is
hereby requested upon receipt of this resolution to annually certify to the
State Auditor the sum of money required for the principal and interest on said
bonds, as evidenced by detailed reports of the annual expenditures.
Mayor
ATTEST:
Village Clerk
The motion for adoption of the foregoing resolution was duly seconded by
Member Stockman, and upon vote being taken thereon, the following members
voted in favor thereof: Bies, Jensen, Paulson, Stockman, and Teresi; and
the following voted against the same: None, whereupon said resolution was
declared duly passed and adopted, signed by the Mayor and his signature at.
tested by the Village Clerk.
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