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12-01-1969 VCM flI /. The regular semi-monthly meeting of the Elk River Village Council of the Village of Elk River, ~tinn., ~s called to order by ~or Bartelt on Dec. 1, 1969, in the Council Room of the 1-1unici pal Building at 7 :30 pm, all members were present as follows: Me,yor Bartelt, Councilmen Hudson, Syring, Mc~ae ~d . Konop. The Minutes of the Nov. 17, 1969 meeting were read. No additions or corrections. Agreeable to run the heater in the fire station onoLF gas until it can be hooked up to natura.1 gas in the spring. 'Discussion on orderi11g an additional furnane or furnaces for the area above the liquor store. Earl Moos will be asked to attend our next meeting to learn his recommendations. ~ Al Brown made a verbal complaint that because. of the regrading and paving of Lowell Avenue, be has no access to his gara.ge,.and that it is the Vill.ages obli- gation to remedy this problem by moving a power pole, placing a til~~nd filling in for n. driveway. Councilman Hudson a..""l.d McRae with Les Derr will look at the problem and ,report back with their recommendation. ,- -_.- 0 ~ /" - ( Discussion on a bill returned .by SherbUrne County for resurfacing on GS,A.q 12 getween Highway 10 and the tracks in the arnou..""l.t of $829.93. Per the County Engineers report, it was agfeeable to resubmit a bill for $500.10. Moved by GounCm:1.raa.ri'i 'syriiig and seconded by Coun~i1man Hudson, appointing Rev. David Matthews to a 2 year term and Mrs. Harley Marohn to a 3 year tel~on the Elk River Library Board. Motion unaminously carried. 'Agreeable that the residents along old Highway 101 from the hridge to the East River Road will be allow~d to purchase a resident dump card. Load rates at the dump were established as follows: Minimum dumping charge 50rt, pickup load and trailer load $2.00 and dump trucks .$5.00. Agreeable to increase Elk River Sanitations monthly charge for use of the d.ump to $SO.OO to be e'ffective Jan. 1, 19$0. The following bills were, approved for payment: Ronald Felt Elk River Library William T. Mills Crow Chemical Co. 1st Natl Insur. Agency Zep NanUf. Co. St.CloudRest.Supply Burgoyne Trucking Elk River Mileage Dog Kenneling Books Engineering Svcs. , Suppli es Bond ~pplies Supplie s stockpiling Sand Gas-Servicing 15.00 132.82 812.50 7.90 19.00 24.00 , 24.41 . 269.00 103.41 ( \ '-J o Oscarsons Mobil 1.liller,Davia Co. Flexible Pipe Tool Co. Emil Hoffman Cottens Auto Supply Industrial Hardfacing Traf-Q-Teria System Webers Texaco Service Skelly Oil Co. Minn. Fire, Inc. Elk River Hard:ware Genl Safety Equip.CorPn. Elk River Mun. Utilities Elk River Mun. Utilities Elk River Sanitation First State Agency Gas-Oil SUpplies Equip. Hay Parts Welding Tickets Gas-Oil Oil Svcs Supplies Supplies L&P-Hydr.:mt Rental I.&P Rubbish Serv. Insurance 99.22 15.63 18; 00 .35.00 98.19 5.00 36.55 67.79 10.20 6.75 10.38 37.20 174.91 324.84 20.00 762.00 the meeting adjourned.. . .' '. \, -; '., ' ~~ . . . , , . . .., ~ No furth6 r busine ss , . ~_.~_._-_._..., , " EXTRACT OF MINUTES OF MEETING OF THE VILLAGE COUNCIL OF THE VILLAGE OF ELK RIVER, MINNESOTA . October 9, 1969 .. . . HELD: ............... Pursuant to due call and notice thereof, a meeting of the Village Council of the Village of Elk River, Sherburne County, Minnesota, w&thduly held ~t~ Village Hall in sat2iO(Yillage on Ithe' . . .. .. day or . . . . . . . . . . . . . 1969, at o'clock .M. special , . The following members werepres.e.ot: K Thomas Hudson, Robert syI-1ng, Donald McRay- & 'W1ll18m onop and t~e.. followi,pf?;. w.er~ .ab~e.nt.:.. . Hilmer F~ Bartelt, May-or Member Syr1ng . . . . . " introduced resolution and moved its adoption: the followi!lg RESOLUTION PROVIDING FOR. THE ISSUANCE AND SALE OF $80,000 IMPROVEMENT BONDS OF 1969 AND LEVYING A TAX FOR THE PAYMENT THEREOF WHEREAS, the Village Council of said Village has heretofore determined to construct storm sewer, sanitary sewer, street and curb improvements in the Village; and WHEREAS, the Village Council has entered into contracts for the construction of all or a portion of said improvements; and '" WHEREAS, no other obligations have been issued to defray the ~xpense of said improvements; ,. NOW THEREFORE, BE IT RESOLVED by the Village Council of the Village of Elk River, Minnesota, as follows: 1. That the offer of E. J. Prescott & Company, Minneapolis, Minnesota, to purchase $80,000 Improvement Bonds of 1969 of the Village, in accordance with the terms and conditions and at the rate of interest hereinafter set forth, and to pay therefor the sum of $80,000 is hereby accepted. Said bonds shall be payable as to principal and interest at the Fidelity Bank and Trust Company, in Minne- apolis, Minnesota. 2. The $80,000" "negotiable coupon general obli- gation bonds of the Village" shall be dated November 1, "1969 and shall be issued" forthw~th. Said bonds shall be 16 in number and numbered from 1 to 16, both inclusive, in the denomination of $5,000 .each. Said bonds shall mature serially, lowest numbers first, without option of prepayment, on November 1 in the amount of $10,000 in each of the years 1972 to 1979, both inclusive. . 3. The bonds of said issue maturing in the years and bearing the serial numbers set forth below shall bear interest," payable November 1, 1970 and semiannually there- after on May 1 and November 1 of each year, at the respec- tive rates per annum set opposite said maturity years and serial numbers: Maturity Years 11-1-72 11-1-73 11-1-74 11-1-75 11-1-76 11-1-77 11-1-78 11-1- 79 "Se"ri"aTNumb"e"rs 1-2 3-4 5-6 7-8 9-10 11-12 " 13-14 15-16 " Tnt"e"re"s"t Rat e 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 4. The bonds and interest coupons to be issued hereunder shall be in substantially the following form: \ '" -2- UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF SHERBURNE VILLAGE OF ELK RIVER No. $5,000 IMPROVEMENT BOND OF 1969 KNOW ALL MEN BY THESE PRESENTS that the Village of Elk River, Sherburne County, Minnesota~ certifies that it is indebted and for value received promises to pay to bearer, without option of prepayment, the sum of FIVE THOUSAND DOLLARS on the first day of November, 1'9" and to pay interest thereon from the date hereof until the principal is paid at the rate of " ,"," . , . . . . . . , . . . .. per cent ,( %) per annum, payable on the first day of November, 1970 and semi- annually thereafter on the first day of May and the first day of November in each year, in accordance with and upon presenta- tion and surrender of the interest coupons hereto attached, as the same severally become due. Both principal and interest are payable at the Fidelity Bank and Trust Company, in Minneapolis, Minnesota in any coin or currency of the United States of America which at the time of payment is legal tender for public and pri- vate debts. This bond is one of an issue in the total principal amount of $80,000 all of like date and tenor, except as to maturity and interest rate, which bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota for the purpose of providing money for various improvements, and is payable out of the Improvement Bonds of 1969 Fund of the Village. This bond constitutes a general obligation of the Village, and to provide moneys for the prompt and full payment of said principal and interest when the same become due, the full faith and credit of said Village have been and are here- by irrevocably pledged. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be performed, precedent to and in the issuance of this bond, -3- have been done, have happened and have been performed, in regular and due form, time and manner as required by law, and this bond, together with all other debts of the Vill~ge outstanding on the date hereof and the date of its actual issuance and delivery does not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the Village of Elk River, Sherburne County, Minnesota, by its Village Council has caused this bond to be executed in its behalf by the s~gnatures of the Mayor and the Village Clerk, and the corporate seal of said Village to be affixed hereto, and has caused the interest coupons to be executed and authenticated by the facsimile signatures of said offi- cers, all as of November 1, 1969. Village Clerk Mayor (Form of Coupon) No. '$' On the first day of November (May), 19 , the Village of Elk River, Sherburne County, Minnesota;- will pay to bearer at the Fidelity Bank and Trust Company, in Minneapolis, Minnesota the sum shown hereon for interest then due on its Improvement Bond of 1969, No. dated November 1, 1969. Isl Facsimile Village Clerk Is/ Facsimile Mayor " -4- 5. The Village Clerk is directed to cause said bonds to be prepared and the Mayor and Clerk are authorized and directed to execute the same, and to cause said coupons to be executed and authenticated by the printed, engraved or lithographed facsimile signatures of said officers. 6. The said bonds when so prepared and executed shall be delivered by the Treasurer to the purchaser thereof upon receipt of the purchase price, and the said purchaser shall not be obliged to see to the proper application thereof. 7. There is hereby created a special fund to be designated "Improvement Bonds of 1969 Fund" to be held and administered by the Village Treasurer separate and apart from all other funds of the Village. Said fund shall be maintained in the manner herein specified until all of the bonds herein authorized and the interest thereon have been fully paid. In said fund there shall be maintained two separate accounts, to be designated as the "Construction Account" and the "Sinking Fund Account", respectively. The proceeds of the sale of the bonds herein authorized, less accrued interest received there- on, shall be credited to the Construction Account, from which there shall be paid all costs and expenses of making said improvement, including the costs of construction contracts heretofore let and all other costs incurred and to be incurred and the moneys in said account shall be used for no other pur- pose, provided that the bond proceeds may also be used to pay interest on said bonds due prior to the anticipated date of commencement of the collection of taxes or special assessments herein levied, and provided further that if upon completion of said improvement there shall remain any unexpended balance in said Construction Account, said balance may be transferred by the Council to the fund of any other improvement instituted pursuant to Chapter 429 M.S.A. There is hereby pledged and there shall be credited to the Sinking Fund Account, all collections of special assessments and taxes herein levied, all accrued interest received upon delivery of said bonds, and all funds remaining in said Construction Account after completion of the improvements and payment of the costs thereof, not so transferred to the fund of another improve- ment. The Sinking Fund Account shall be used solely to pay principal and interest on the bonds issued hereunder. 80,000 8. It is hereby determined that no less than $ of the cost of improvements shall be paid by special assessments to be levied against every assessable lot, piece and parcel of land benefited by said improvements. The Village hereby coven- ants and agrees that it will do and perform as soon as they may -5- be done, all acts and things necessary for the final and valid levy of such special assessments, and in the event that any such assessment be at any time held invalid with respect to any lot, piece or parcel of land due to any error, defect, or irregularity, in any action or proceedings taken or to be taken by the Village or this Councilor any of the Village officers or employees, either in the making of such assessments or in the performance of any condition precedent thereto, the Village and this Council will forth- with do all such further acts and take all such further pro- ceedings as may be required bylaw to make such assessments a valid and binding lien upon such property. 9. To provide moneys for the payment of said principal and interest there is hereby levied upon all of the 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 property taxes in said Village for the years and in the amounts as follows: Year of Tax Year of Tax Amount Levy Collecti'on 1969 1970 $ - 1970 1971 1971 1972 3,000 1972 1973 3,000 1973 1974 5,000 1974 1975 5,000 1975 1976 5,000 1976 1977 3,000 1977 1978 1978 1979 , " Said tax levies are such that if collected in full they, together with estimated collections of special assess- ments for the payment of said bonds, will produce at least five per cent in excess of the amount needed to meet when due the principal and interest payments, on the bonds. Said tax levies shall be irrepealable so long as any of said bonds are outstanding and unpaid, provided that the Village reserves the right and power to reduce the levies in the manner and to the extent permitted by Sec. 475.61(3) M.S.A. For the prompt and :tuIl payment. of'~- the-: p,rincipaL_ of and interest on said bonds,; as' 1;he: same-: r_e-sp~ecti::vely" -6- become due, the full faith, credit and taxing powers of the Village shall be and are hereby irrevocably' pledged. 10. The Village Clerk is hereby directed to file a certified copy of this resolution ,with the County Auditor of Sherburne County, Minnesota, together with such other information as he shall require, and to obtain from said Auditor his certificate that said bonds have been entered in the said Auditor's Bond Register, and that the tax levy required by law has been made. 11. The officers of the Village are hereby autho- rized 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 reeords of the Village relating to said bonds and to the financial condition and affairs of the Village, and such other affidavits, certificates and information as are required to show the facts relating to the legality and marketability of said bonds as the same appear from the books and records under their custody and control or as otherwise known to them, and all such certified copies, certificates and affidavits, includ- ing any heretofore furnished, shall be deemed representations of the Village as to the facts recited therein. . The motion for the adoption of the foregoing resolu- tion was duly seconded by member McRSe' . . . .. . and upon vote being taken thereon, the following voted in favor thereof: Hudson, Syring, McRae 8. KODop and the following voted against the same: NODe Whereupon said resolution was declared duly passed and adopted. -7- STATE OF MINNESOTA ) COUNTY OF SHERBURNE) SS VILLAGE OF ELK RIVER) I, the undersigned, being the duly qualified and acting Clerk of the Village of Elk River, Minnesota, DO HEREBY CERTIFY that I have compared the attached and fore- going extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the Village Council of said Village, duly called and held on the date therein indicated, insofar as such minutes relate to the sale of $80,000 Improvement Bonds of 1969 of said Village. WITNESS my hand and the seal of said Vj_11age this 13th day of November , 1969. w' , (Seal) SIGNATURE CERTIFICATE STATE OF MINNESOTA COUNTY OF SHERBURNE VILLAGE OF ELK RIVER We, the undersigned, being respectively the duly qualified and acting Mayor and Clerk of the Village of Elk River, Sherburne Cou~y, Minnes~~a, DO HEREBY CERTIFY that we did on the . ./1- day ot: . . / VOv(:H/Jf.R, 1969, in our official capacities as such ot:ficers sign our own proper names and cause the corporate seal of the Village to be affixed to, $80,000 Improvement Bonds of 1969, of said Village, dated November 1, 1969, said bonds being 16 in number and numbered from 1 to 16, both inclusive, each in the denomination of $5,000. Said bonds mature serially, lowest numbers first, without option of prepayment, on November 1 in the amount of $10,000 in each of the years 1972 to 1979, both inclusive. J (/ WE FURTHER CERTIFY that the signature of WrlL,'rlM . KONOdfr affixed hereto is a true and proper signature of the q alified and acting Treasurer of said Village. WE FURTHER CERTIFY that we are now. and were on the date of signing such bonds, the duly qualified and acting officers therein indicated, and duly authorized to execute the same, and we hereby ratify, confirm, and adopt our fac- simile signatures on the coupons on said bonds as the true and proper signatures for the execution thereof. WE FURTHER CERTIFY that said bonds have been in all respects duly executed and delivered pursuant to author- ity conferred upon us as such officers; and no obligations other than those above described have been issued pursuant to such authority, and that none of the proceedings or re- cords which have been certified to the purchasers of said bonds or the attorneys approving the same have been in any manner repealed, amended or. changed, and that there has been no change in the financial condition of the Village, or of the facts affecting said bonds, except as shown by the proofs furnished. WE FURTHER CERTIFY that there is no litigation threatened or pending questioning the organization or boundaries of said Village, or the right of any of us to our respective offices, in any manner questioning our right and power to execute and deliver said bonds, or otherwise questioning the validity of said bonds or the levy of the taxes or assessments for the payment of the bonds and the interest thereon. ~ WITNESS olOur. hands and the seal of said Village this 11~ day of QUEM /J'c /<.., 1969. ' . . . . . . . . . . . . . . . . . . . . . Mayor ..U1~. Clerk (Seal) .(~~.~~ Treasurer ,