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HomeMy WebLinkAboutCity Council Minutes 07-02-1957voted Aye vto�accept the motion. A motion wes made by Keefe to purcha a an Allis-Ohaliteral. Grader, in accordance witi, bid, from norahert-ingerso!15 TnC .for s-6,.526.50 less one months rental at X450., leaving.e gurchasa ariCe. of $6076.50. Payments ore *2025.;0 cash and $2025.5q on August 2,,.' and September 2, 1957. Notion was seconneu by Theis and passed by all Councilmen voting Aye. Accounts numbered 298 thr%a 357 were audited ara, eppr4ited by the, Council. Treasurer Little arrived at 4:00. O oioek P. . to sign and post the clelms. ML intruduced the follovrinp ywrittr. resolution and moved its adoption: FIXING Tn= FOKii AND &j?j.CiFIC�TluiyS T1i hLOP', ri�ii4kLi:3i� OR TEEIR 4iiCuTlQ y L A IliLRY iNii Chrni'1":vG ft FUND Fon T:31Zlk ?LLyiLNT. BE IT E_&OL a D by the Villas e Council Of tine jf i Lit;C:e of -Ply:©outh, Mlnne�::ota, as foilo7M: 1. The bid of 'Wayzate btate Bans to purchase 0;,.,00 ztrsat Improvement Bonds of said Villege described in the notice of sale thereof, is hereby found and determined to be the highest and best tid received pursuant to advertised notice of sale, and skull be kind is hereby accepted, said bid beim to purcha:a bonds bearing 1atewEst es follows: 3.43' pe- annum at mice of 32,JLZ'.00. The vi .iags treasurer is directed to ret&ln the good felt'h cheek of the succe.:sfa1 bicd�r oenaine' co:rinletion of t;,e sale end aeiivery of ;:cid bonus, and the clerk is uireeted to return the ci;ee&s Cf un€uceessf`dl biclaers forthwith. 2. The Villa, e o1 21y south .hail ' ortr,g,ith i--sue its neyotiabie coupon :street Da rc•ve:ient Bonds ii: the aggregate ;rl cipel amount of 132,000, said oonds to bear di: to ;wFust 1, 1957, and to oe 32 in. nu.mLer and Liurrbered 1 to 32, both iiielusive, in the denomination of 81,000 each, benrine interest rs above set forth, ,ayable February i, 1956 a.nd semiannually thereafter on the i.wt day of February rand the i::t ,;ey of August In each year, and rae.turlrig serially or, k€t�d t 1 in tLe yc-ars and :�iaounts as 1'ollo.v5: 18,000 L. 1958, �7,O00 in 1;53 and _1;60 ana 1;5,000 in 1961 �:nc 1962, all ..iLL�juL outi.i. uC prior payment. - 3. Both principal :ism Interest. Shall be payable at Wayzata State Renk and the v ilaF,e shall ray tele I-eaconable eh.aiarges of said Bank for its services as paying agent. 4. The bonds and the interest eoupans to be thereto attached shall be in substantially the following form: UjilTBL .TATLL OF ALZRICN, SMM OF 1ICdlrr:u£y!'ts CGjl,,,TY OF "rF,t'l�ltej;!, VI.L,Fiil, OF 1>LZMOUTh 000 5T F; LT lait'rcu4 :aNT b014) OF 1957. r o'" ALL i!,Ia4 BY T4:16 x'Fs;.1N`fS Twit t1he Village of Plymouth, dennepLi County, :yirinesota, acxno",rledge s itself to be indebted and for value received promisew to cry to beerer on the lst day of Augut't,. 19 , z,:rt;jout optic,n of prior payment, the sins of OhN ThOUSANU DOLLARL out of its Street Improvement Songs of 1957 Tana and to PRY =ntei.eat thereon out of said fund Prom the date hereof until the _-rincipal smount is :;aid at the rate of 3.40;' Per annum interest to maturity psyeble February 1, 1958, and semi- annually thereafter on the lot day of February and the 161 da+y;:. of feu:gust, :iij Bach year in Eccordence vAth and upon presentation and surrender of the interest coupons hereto attached at, they. severa.i.ly become due. Both prir,oipal'of and interest on this bond are payabi.h. at in any coin or currency of the united Stutes of America wnich at. the ti.ze of peymen:t is legal tender for publiia andprivets debts. Thiz bond is ona of an issue in the total princigcl wmount of $32,000, ail of like � :te �.nN tenor ez�ce A a;� to Maturity and intere-t rate, all issued oy the for the purpose of providing :coney to defray the exdense incurrea or to be iu^uriea in rna&ing street improvements ixi the viila��e as authorized by Chapter 429, Ainneeota Statutes, and is payanie out of -treet improvement Londe of 1' 57 Fund from proceeds of s.oeeial es4ies.;mepts to :be iev e i far said izu;rovements, but the f'ul fait a end credit of tris liill��e have been irrevoeably pledi ei for the payment o. t€►e.p.r.inelpal +end interest on the bonds if t je moneys it the appropriate fund. ale insuf'f'icient for the purpose ez_Q the viiiFe hb111 levy a nirset r:a. valorem tax on all of the taxable property in tiie village, if. nesee*sary; to ,rivide for eny deficiex+cq. IT IL KEELEY C--"ETIrIhl% r:J%jJ, F.LCITLiu `-htkt ail conditiorlB, ects and things requirea by th6 Constitution end laws of the Mate of` rIi,.r:esota to exist, to be acre, to h ,pen until to be 1,erf'ormed precedent to and in the isLuance of this gond do exist %IV. i:a­ pened, have been aone and have been atrfomed iii regu,ier vnd ue tom, ti-ae F -rid ;nanner rs re uired by le.x ena t, t the-, is6u€,r:ce 0' tris bond did not cr,uoe the Inde: tedndss oi• thv village to exceed any cobstitu- tional or Ott,tutory li.nitt.tion ti-iereol.. the Ville-� r -f ?1YI-10uth, fie-riepla County, i.ne of by its L i_ltz�-e trtis boric: to oe sis-rEa by tr e Vint j -L Cier:c and its corporf ue seal to s be i.ereto affixed= Gl.c irdt E: est c_upozi e^c ,.lit, to ve �-ecaten, and authentic_.te•- , the facsiuil£ Agna.tpren Of seia OffiFts's, a21 F as of j.0€Fust 1, 1957. ( ;r7neczifi. `l'. Johnson(b �c►ed� li�wnr,� PSek:iy: Visile€oe Clerk ,ey*.ar (,RB -AL) (1110of Coupon) y17r. ._ Or the ULM At y of February (hu ust) , 19 , th i, vii,le ._e os Flyfao,ath, 11unepin County, Mftne:,ota, to ;�t&rer at (- _ out of qtr et i:p rove Merit bond., of 1957 -Fund the sup. of - - - - - DOLLMLL for iriteW'e.,A ttlen due fin itL wt''eet E'ai,.rovf�:ae"t uond d, -ted �tz;�~.�;=t 1, 11:7, t:•.i. 'L'he bones s:lell be ')repFrea under the Cdrectloa he 1 t1l we Cleric and cshnil to c%t:cuted ori Oehaif of tht> villrice by the sib:natures of the smeyoY tnd village clerL and the corpo-rete:.seal .: a` the vill .k o shall be affixed to ,Foch ttereof, puu the int o t coupons shell be executed and autherticate(i 'Qy t rE ,pr3ntea iacsitni e iryn-tures of said officers. i.ei staid tbo.as have bi�:en eu executed.:.::: they ahall be delivered by tiie treasurer to the i)urcuaser th6reof,.'. - u.pr�n receipt oft e purchFise. -,r=ee Leretofore t,greed upon, a t:he E a,arcr.aser sr.f it not „s• obliaag�t a to gee to the proper ep,p.licatidn thereof. 5. T..e bonds it.sued Ekeunaer :shall .be paya.,Ie f r-.711 Street TTM-;rove.en.t bonds of 1957 Fund r,ereby created, prividethat .. f aU uy,nent of firinci;7al or inters .t shall brae 1uer.:nti. tf.ere '.is not - T� i , ,t Honey in ::aid furu � pay },F tr urs i' Sha 11 t. ._ principal or intc Ut iron cat r ear_i . wn4 ui thu M:sF::.-e ' r Vuch fund L ht-Ji be rvl..uur -t ,Cii .,.l1iiL C :SOilt V ,.,rcceeu-L : L aL.essments for =hiu l,»x vove_�rntJ ..,. cn collect:,.i"i procueaw of .ala bora. M Esisb rents -,,bid .trttt I Isve:Tent roti_ af i)57 : illu. We CG1rxCi1. i:Lb 4vtcC`"1Tx'lCu t..6t ��t .LEL3s tl-,% tLt Lot-:l coat of the, 0116win i , rnvenentt. Lr—t :40. 1., z, j grid L, VA Le ORN uJ wvec-i` i relLr,., sU Je lt;v1t .0 ;t ii:5t every lot, piece or p ;reel of iaanu beLeMea V the LLila i:I,,roverteLt , ani that the estlMated CallectiOns Of such ,i-Ll be suffi dent to psy, when Niue, the pri ncis _ ',na late, e et -L tae bung Z ana Et least five percent ir. eice,s Wereaf. Ti_e villa, hereby covfrcants and ngress that it will to and perform, as boon t:te can bi. cone, all i cts ana things nece8sary for t e r�in'l gnu v€:Ad le%•y o#' s;Ich special assessments, and in the event that cmy tiuci Lzss ..6.aent be 2t any time held invalid with reay.ct W. jay lot, LiEce or parcel of land. due to any error, defect Jr . re;<=Wty A any action or proceeding Wen or to :e User by tnis council or tiny of t e Villa "e'B .officers or ernpioy wes, " t Ft er i:: t!... [(L01109 Of lzucl, €' 7 r.,FzfiC'L1t tai LI1 the jerfarnance of uny ccnalti ; 'enedent thtreta, the villeve rud this c.oancil :•rill fnrthwith uo all such Corther acts <:ncs to e tdl such further proieedinwa ab My Le I aoUll'ea U 43: tO 1'u: Z: 6UCh a.sv.smenta Valie F u i binding 11_rls ur •r. suCL property. e. Tl:e visit=;--e cier-, i.s :ereby authorNed end airect-d t< :vile •r:ith the county :.u-iitor o: nenne Ar. County a certified copy of � t_'iin resolution together Ath Eum other i.nf•orn-F-ti::rs .. t'..e C,olnt €=uditor may requirz, W to bW-11�. _ro.a tr,e couT.tjy citluiLor C, certirieete that the bonds have been entered t pop his z.ozid regli ter. 9. We officers of the villa _e w e hereby Guthori.zed and directed to prepare and furnish to the purc a: er of the Lbond8 and = to the attor=neys approvir!s the a arae certified copies of 8_1 p:ro ceedinga end records of tne viklege relbtlnE to the aoiiuz: ana to the financial condition and affairs or the vilitge, an- such other. certificates, affidavits end transcripts ss may be required to sklnv the facets within their snoAleote, or as shown ny ti_e boo:.&s raid recoras of tree village in their custoay and under their coiAtrul r�;i.ating to the validity ana marxetaWity of the bonds ana the ie y of special ecsessments and taxes, if required, and such lr.i tr-'Laents, incl;lding anm hr rct.rsfnra. PllW Ehm _ snm i 7 he deemed 9"B:;"e:_ent .tiobd s of tie