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<br />EXTRACT OF MINUTES OF MEETING
<br />VILLAGE OF ELK RIVER COUNCIL MEETING
<br />February 17, 1960
<br />
<br />A special meeting was held at the Municipal Building on Feb 17, 1960 at 3:00 o’clock P.M.
<br />
<br />Members present:
<br /> Henry Johnson, Mayor; August Meyer, R.G. Kemper, Trustees; H.A. Briggs, Clerk
<br />
<br />Member Meyer then introduced the following resolution and moved its adoption:
<br />
<br />RESOLUTION AMENDING PARAGRAPH 5 OF THE RESOLUTION ADOPTED AT THE
<br />FEBRUARY 1, 1060, REGULAR MEETING OF THE VILLAGE COUNCIL DETERMINING
<br />THE FORM AND DETAILS OF $105,000.00 SEWAGE TREATMENT PLANT BONDS OF
<br />THE VILLAGE, CREATING A SINKING FUND THEREFORE, AND LEVYING TAXES
<br />FOR THE PAYMENT THEREOF.
<br />
<br />BE IT RESOLVED, by the Village Council of the Village of Elk River, Sherburne County,
<br />Minnesota, that paragraph 5 of the Resolution adopted at the February 1, 1960, regular meeting of
<br />the Village Council determining the form and details of $105,000.00 sewage treatment plant bonds
<br />of the Village, creating a sinking fund therefore, and levying taxes for the payment thereof be and is
<br />hereby amended to read in its entirety as follows:
<br />
<br />“5. For the prompt and full payment of the principal and interest on said bonds as the same
<br />respectively become due, the full faith, credit and taxing powers of the Village shall be and are
<br />hereby irrevocably pledged. To provide moneys for the payment thereof, there is hereby levied upon
<br />all of the taxable property in the Village, a direct, annual, ad valorem tax which shall be spread upon
<br />the tax rolls for the years and in the amounts as follows, and collected with and as a part of other
<br />general taxes of the Village in the respective ensuing years:
<br />
<br />Year Amount Year Amount Year Amount
<br />1960 10,9000 1966 8,800 1972 7,500
<br />1961 9,9000 1967 8,600 1973 7,300
<br />1962 9,7000 1968 8,400 1974 7,100
<br />1963 9,400 1969 8,200 1975 6,800
<br />1964 9,200 1970 8,000 1976 11,900
<br />1965 9,000 1971 7,700 1977 11,400
<br /> 1978 11,000
<br />
<br />Said tax shall be irrepealable as long as any of said bonds are outstanding and unpaid: provided, that
<br />the Village reserves the right and power to reduce the levies in the manner and to the extent
<br />permitted by Minnesota Statutes, 1957, Section 475.61.”
<br />
<br />The motion for the adoption of the foregoing resolution was duly seconded by Member Kemper,
<br />and upon vote being taken thereon, the following voted in favor thereof:
<br />Kemper
<br />Briggs
<br />
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