Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1921-11-16
Mayor.
-CounterSigned:
CITY Cork"

City Cerk. :
Be it further. RESOLVED that the
proceeds Of all assessments levied or
to be levied against property bene-
flied by said Improvement, be, arc
they hereby are appropriated and set
aside for the payment Of the princi-
pal and interest Of said certificates,
and any other certificates which may
hereafter be issued to cover the ex-
penses Of such Improvement, as they
fall due, and that the City assumes
the amount of the cost Of said in,-
provement t.ereinbefore designated
and specified as the City's share there
Of, and that the City seasonably rro-
of said certificates represented by its
share by the levy and collection Of !.
tax therefor, on all the taxable prop
erty in said City. That there be and
hereby is created separate fund for
such improvement that into this fund
fund shall be paid the proceeds of the
sale of said certificates applicable 10
such improvement, that into this
there shall also be paid all moneys
arising from liens created on account
of such improvement and all moneys
raised by general taxation to pay the
City's share Of the cost thereof rs
hereinbefore specified, that out of
this fund shall be paid all expenses
incurred and to be incurred in con-
nection with said Improvement, that
any moneys being in such fund at the
maturity Of any interest or principal
of any certificates, whether such
moneys be the proceeds Of assess
ments paid or of taxation Or be from
other sources derived, be applied to
~
principal. That if at the maturity
Of any such interest or principal
there is not in such fund money suf-
ficient to meet the payment thereof,
the proper officers of the Citv shall
provide the necessary money for the
purpose out of the general fund Or
out Of any other fund and pay the
same into the appropriate improve
ment fund in the amount needed.
That when thereafter there shall be
in such improvement fund so
replenished, moneys derived of
the collection of assessments
on account of such Improvement
which are available for the purpose,
they shall be paid back out of such
improvement fund with interest at
the rate Of six per cent per annum,
into the fund from which thew shall
nave been taken or used, provided,
however, that the city's share of the
cost of such improvement as herein
before fixed and specified so paid in
TO any such fund, for the purpose Of
interest or principal payment, shall
not be repaid from said improvement
fund, but shall be provided for out
Of the proceeds of general taxation.
The intent hereof is hereby declared
to be that the cost of said improve
ment shall be paid out of said i'm
provement fund, that the proceeds of
assessments made on benefited prop
erty on account of said improvement
shall be applied as far as thew will
avail for the purpose, to discharge
the interest and principal of said
certificates, that the City shall from
time to time, contribute out of the
proceeds of general taxation to the
payment of the interest and principal
of said certificates, it's share as here
before fixed and specified, and that
if, at any time when any interest or
principal Of anv of said certificates
falls due, the fund so made up is un-
equal to pay the same out of the pro.