09-10-1945 VCM - Laserfiche WebLink

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price heretofore agreed upon, and the purchaser shall not be obliged to see to the application thereof. 4. There is hereby created a separate Sinking Fund for said Electric System Bonds of 1945, which shall be held by the Village Treasurer and used for no other purpose than to pay the principal of and interest on said bonds; provided that, if any payment of principal or interest shall become due when there is not sufficient money in said fund to pay the same, the Treasurer shall pay such principal or interest from the general funds of the Village, and said general funds shall be reimbursed for such advances out of the proceeds of taxes levied pursuant hereto or other moneys appropriated by the village Council for such purpose. Into said Sinking Fund shall be paid all proceeds of the taxes levied pursuant to this resolution and such other moneys as may be received by the Village for the purpose of, or appropriated to, the payment of said bonds, and interest. 5. 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 and collected with and as part of other general taxes of the Village, which tax is to be spread upon the rolls for the years and in amounts as follows: Year Amount Year Amount 1945 1080 1950 10,965 1946 6060 1951 10,845 1947 5990 1952 10,730 1948 11,195 1953 10,615 1949 11,075 Each of said levies shall be irrepealable; provided that the Village reserves the right to cancel said levies in the amounts and to the extent permitted by Minnesota Statutes 1941 Section 475.26. 6. The Village Clerk is hereby authorized and directed to file with the County Auditor of Sherburne County, Minnesota, a certified copy of this resolution, together with such other information as the County Auditor may require, and to obtain from the County Auditor a certificate that such tax has been levied and the bonds have been entered upon his bond register. 7. The County Auditor of Sherburne County and the officers of the Village are hereby authorized and directed to prepare and furnish to the purchaser of said bonds, and to the attorney approving the same, certified copies of all proceedings and records of the Village relating to said bonds and to the financial condition and affairs of the Village and such other certificates, affidavits, and transcripts as may be required to show the facts within their knowledge or as shown by the books and records in their respective custody and control relating to the validity and marketability of said bonds, and such instruments, including any heretofore furnished, shall be deemed representations of the village as to the facts herein recited. S.B. Davidson, President of Village Council Attest: H.A. Briggs, Village Clerk The motion for adoption of the foregoing resolution was duly seconded by Member Kramer, and upon vote being taken thereon the following voted in favor thereof: Kramer, Briggs, Davidson, Skellenger and the following voted against the same: None whereupon said resolution was declared duly adopted, and was signed and attested by the President and Clerk.