1888-1989 Archive Minutes
Minutes 1918 - 1957
12/24/2013 8:08:42 AM
12/23/2013 11:43:54 AM
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1 213 Q/5 7 33 <br />become due, and shall appropriate said remaining special assessments and said <br />taxes to the Improvement Bond Redemption Fund established by Ordinance No. 14, <br />adopted September 21, 1955, for the payment of said definitive improvement <br />bonds and interest. <br />The Temporary Improvement Eonds herein authorized shall be <br />issued in series as directed by the.Counci1 by resolution, which resolution <br />shall specify the nominal date of issue, maturity date, interest rate or <br />rates, place of payment, denomination and redemption privileges, if any. <br />Such bonds shall be in substantially the following form, with variations <br />suitable to the terms thereof as fixed by the Council: <br />4. <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF HENNEPIN <br />VILLAGE OF EDINA <br />TEMPORARY IMPROVEMENT BOND <br />SERIES ___ <br />No. $ <br />KNOW ALL MEN BY THESE PRESENTS that the V llage of Ec ina, a duly <br />organized and existing municipal corporation of the County of Hennepin, State <br />of Minnesota, acknowledges itself to be indebted and for value received prorn- <br />ises to pay to bearer the sum of <br />DOLLARS OG- the day of , 19-, zwithout option of prior <br />payment,_/ Lor on a date prior thereto-on which this bond shall have been duly <br />called for redemption as noted below,_/ and to pay interest thereon at the rate <br />per annum from the date hereof until said-principal sum be paid Lor until this <br />bond has been duly called for redemption_/, blus additional interest, repre- <br />sented by the separate coupon appurtenant hereto and designated as coupon No. <br />Brl, at the rate of per cent <br />19-, said interest being payable , 19-, and semiannually <br />thereafter on <br />interest to maturity being represented by and payable in accordance with and <br />upon presentation and surrender of the interest coupons appurtenant hereto. <br />of per cent ( ji4 1 <br />( $1 per annum fr m y 19- to Y <br />and in each year, and 4 <br />Both principal and interest are payable at - - - -Y in Y in any coin or currency of the United States of America which on the respective <br />dates of payment is legal tender for public and private debts. For the prompt <br />and full payment of such principal and interest as the same respectively become <br />due the full faith, credit and taxing powers of the Village are hereby irrevo- <br />cably pledged. <br />$ -, all of like date and tenor except as to serial number, all issued <br />for the purpose of defraying expenses incurred and to be incurred in construct- <br />ing necessary local improvements heretofore duly ordered and contracted to be <br />made in accordance with the provisions of Minnesota Statutes, Chapter 429, and <br />is issued pursuant to and in full conformity with the Constitution and laws of <br />the State of Minnesota thereunto enabling, and pursuant to resolutions duly <br />adopted by the Village Council. This bond is payable primarily from the Tem- <br />porary Improvement Fund of said Village, to which fund there have been irrevo- <br />cably appropriated the special assessments to be levied in respect of the im- <br />provements financed by said issue, and into which fund there are to be paid the <br />proceeds of difinitive improvement bonds which the Village is required by law <br />to issue at or prior to the maturity of this bond for the purpose of refunding <br />the same so far as special assessments theretofore collected are not sufficient <br />for the payment thereof. <br />This bond is one of a series in the aggregate principal amount of <br />LThe bonds of this series are each subject to redemption and prepay- <br />ment at the option of the Village on , 19-, and any inter- <br />est payment date thereafter, at par and accrued interest plus a premium equal <br />to $ of the par value thereof. Not less than thirty days prior to the <br />date specified for redemption of any of said bonds the Village will mail notice <br />of the call thereof to the holder, if known, and to the bank at which principal <br />and interest are then payable. Bondholders desiring to receive such notice may <br />register their names and addresses and the serial numbers of their bonds with <br />the Village TreasurerJ
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