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®2- Bonds Village Prod.
No. ,~~;
3. It is hereby determined to lever special assessments against
benefited property byreason of the making of Village Project No.
50~.and ad valorem taxes, if necessary, to produce sums at least 5~
in excess of the amounts sufficient to pay principal and interest
when due on said temporary improvement bonds and on any definitive
bonds to be issued as herein provided, such special assessments to
be placed on the tax rolls subsequent to the time when said Village
Pro3e ct No. 501 has been completed and the total cost Chereof has
been determined.
1~® Said temporary improvement bonds in the amount of $100,000
shall be dated August 1, 196J~; shall be oa~e i.n number and numbered
1, in the denomination of X100,000., shall bear interest at the
rate of ~~ per annum, payable semi annually on February 1 and.August 1
of each y®ar and shall mature on august 1, 19Eb, shall. be subject to
redemption and prepayment of any interest paymdnt date; at par and ac-
crued interest. Not less than 30 days before the date specified for
redemption of said bonds the Village Treasurer shall mail notice of
the ca1.1. thereof to the holder, if known, and said Treasurer shall
maintain a record of the names and addresses of the holders of said
bonds insofar as such information is made available to him by the
holders thereof, for the purpose of mailing said notices. The princi-
pal of and interest on said bonds shall be payable at the Richfield
Village Hall, 6700 Portland ~lve., Minneapolis 23, Mi.nnesots.
5m Said temporary improvement bond shall be mameographed with at®
taehed interest coupon ixi substantially the following forme
UNITED STATES OF AN~RI
STATE OF MINNESOTA
OOUNTY OF HENNEPIN
VILLAGE OF RIOHE'IE7~
TEMPORARY IMPROVEMENT BOND, SERIFS Tw®nty-One
No.
~l00,000.
TsNOW ALL MEN BY. TIi~'SE PRESENTS that the Village of Richfield, a duly organized
municipal. corporation of Henn®pin 'Oounty, Nnnesota acknowledges itse7.f to be
.indebted and for value received, promises to pay to bearer the sum of ONE HUNDRED
THOUSAND DOLLARS on the first day of August 1966, or on a date prior thereto on
which this bond has been duly called fox redemption, and to pay interest thereon
from the date hereof until paid or until this bond has been duly called for red
demption at the rate of four percent (1~~ per annum, payable semi®annually on
the fiarst day of February and the first day of August 3.n each years interest to
maturity being payable in accordance with and upon purchase and surrender of the
interest coupon appurtenant thereto. Both principal and interest are payable at
the Village Hall, Village of Richfield, 6700 Portland Ave., Minneapolis 23, Minne-
sota in any currency or coin of the United States of America which on the respective
dates of payment is public tender for private and public debts. For the prompt and
full payment of such principal and interest as the same become due the full faith,
credit and taxing powers of the Village are hereby irrevocably pledged.
'his bond is one i.n number in the aggregate principal amount of $100,000, issued
by said village for the purpose of defraying expenses incurred and to be incurred
in construction of an improvement designated as ~Vi1Za ge Project Nos 5o~,u by the
Village of Richfield, consisting of street improvement and street oiling, and is '
issued pursuant to and in full. conformity with resolutions duly adopted by the
Village Oouncil after hearings as required by law and pursuant to and in full
conformity with the.Constitution and Laws of the State of Minnesota Thereunto
enabling, including Minnesota Statutes, Section I~29®091, Subdivision 3. This bond
is payable primarily from the Temporary Improvement Bonds Sinking Fund, Village
Project Na. ~O~,Account of the village but the +Gouncil is required to pay the
principal and interest thereon out of any funds in the treasury i.ri the event that
the monies on hand in said funds are at any time insufficient to meet the payment
of maturing principal and interest, and is further required at or prior to the
maturity of this bond, to provide for the payment and retirement thereof by the
issuance of definitive bonds, to the extent, if any, that the assessmehts and
taxes or other municipal funds therefore collected and received in said Sinking
Fund may be insuffici®nt for such purpose. '
This bond is subject to redemption and pre-paym®nt at the option of the vi,7.lage
on any interest payment date, at a price of par and accrued interest, upon notice
of call for redemption mailed not less than 30 days prior to the date specified
for such redemption, to the holder, if known. Bond holders desiring to receive
such. notice may have their names and addresses and the serial numbers of their
bonds recorded by the village treasurer.
1
.w~,r Bonds - ~e P s No • 50~.
IT IS HEREB'l OERTIFIED, REOITED, COVENANTED AND AGREED that all acts, con-
ditions 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
v3.Ll.age has duly determined the necessity of and provid®d for the construc-
tion of said improvement; that the Temporary Improvement Bonds Sinking Fund,
Village Pro3ect No. SOl~ Account has been duly created and provision has
been made for the support thereof by ad valorem taxes and special assess-
ments to be levied, at yr prior to the time of issuance of said definitive
bonds, for the years and in aggregate amounts not less than five percent
(5~) in excess of sums sufficient to pay the principal and interest on all
bonds payable from said fund as such principal and interest become due,
and additional taxes, if needed for said purpose may be levied upon all
taxable property in the village,'without limitation as to rate or amount;
that the holder hereof shall have and may enforce by appropriate proceed-
ings all duty.®s imposed by said Ohapter x.29 upon the village and ~.ts offi-
cers with, reference to the lever and collection of said assessments and
taxes and the issuance of said definitive bonds; and that the issuance of
this bond did not cause the indebtedness of said village to exceed any con
stitutional or statutory limitation.
TN ~JITNESS WI~REOF the Village of Richfield, Hennepin County, Minnesota,
by its village council has caused this bond to be executed in its behalf
by the signature of its mayor and manager and sealed with its official
seal, and the interest coupons appurtenant thereto to be executed and
authenticated by the facsimile signatures of said officers, and has caused
this bond to be dated as of August 1, 196~e
(SF~L)
1
~°5~° Bonds - Y OTC s No0 ~0~}
(Form of Coupon)
Unless the bond described below is called for earlier redemption
No. One
X2000.00
On the. first day of February (August) 19 ,the Village of Richfield,
Hennepin 'County, Minnesota, will pay to bearer at the Village Hall of the
Village of Richfield, 6700 Portland Ave., Minneapolis 23, Minnesota, the
sum of T(~TO THOUSAND AND NO/100 DOLI~S,RS lawful money of the Un3.ted States of
America for interest then due on its Temporary Improvement Bonds, Series
21, Dated August 1, 196.. No. One.
6. Said bonds shall be prepared under the direction of the Village Clerk
and shall be executed on behalf of the village by the signatures of th®
mayor and manager, and the corporate seal of the village shall. be affixed
thereto, and the appurtenant interest coupon shall be executed and authen-~
ticated, by the printed, engraved or lithographed facsimile signatures of
said mayor and manager. When said 'bond has been executed and authenticated,
it shall be delivered by the treasurer to the purchaser thereof, upon pay-
ment of the purchase price heretofore afireed upon and said purchaser shall
nat be obliged to see to the application thereof.
7. The village clerk is hereby authorized and directed to file a certi-
fied.copy of this resolution with the county auditor of Hennepin County,
together with such other information as he shall requa.re and to obtain from
said county auditor a certificate that said bond has been entered on his
bond register.
8. The officers of the village and the county auditor of Henn®pin 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 and records relating to said
bonds and to the financial affairs of said village' and such other affida-
vits, certificates and information as may be required, to show the facts
relating to the legality and marketability of said bands as the same appear
from the books and records under their custody and control ar as otherwise
known to them, and such certificates, certified copies and affidavits, in-
cluding any h®retofore fux^nished, shall be deemed representations of the