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�,iq iior Store t,o �pz�l,y iri redi.�ct,ic:n o_C the debt incurred <�t the be�;inrling of
<br /> the operati.on,
<br /> r1��,�,�. 'n;���??��;]��JF?f_�,, it is resoJ_ved 'uz� the �Ti�la�*e Cuunci:L ot' thc Uil.lage
<br /> cf ��ro,lo, l�fi.rn�,c�sot;a, as f'ol1_o��s:
<br /> Sect:i.cr? 1 o It :i_s hereby d�t��rin:i.n� d and dec].ared that the estab]_ish-
<br /> m�i11; o}' �. iT�.:�n:i_cir>a7. Lic�uc�r .�;toi�e tr, co�!d�tc+ an "of'i' sale�' J.:i.�auor business,
<br /> is �� pub]_i_c rieres�:i_ty and com�en:i.ence �"rom Vrhich revenue �Til:1 ba derived.
<br /> `i'}ic� '�%illasr�� rJc��R�c::i_:�. 'i�s :irlves�Li;��ate<1 i,h�� f�cts in reference thereto and
<br /> h�; i'unrlc] t,}ir�.l, :i.i, :i.s nece;=s��r;.• an�i �losirable t�� est�blLisl� anr� ol�erate
<br /> such I��uiic:ir_�<>:1 3,:i.q�ior Store in sa:i_d Vi]la.�e, and has f'urther determined
<br /> tfiat it is nF�cessa.r��r and de.�irab]_F� to l.e<�se propert,y f'r•cm Jack ti�1, hkr�e
<br /> �rid Ka.th_l�en J. LJti•e, upon the ter�m,s sc;t forth in tl�e le�se heretof'ore
<br /> �xec�zted }_,etween the 1Tillar�e �nd said ��arties.
<br /> Sect:ion 2. It, is ftarther fotmd an�.l detormined. tliat :it is necessary
<br /> a��d proper fc;r t}ie Ux.tla�;e to borrow ::�15,000 in the form of' t-ituiicipal
<br /> Liql�or Stc�re warrr�nts, for ttie purx�osc of Providin� .furnishinfis and in-
<br /> v��ntor,y f'cr the sa.id I�Ii�riic:inal Liqvor �tore with which to open business.
<br /> � Sec�iczi 3. The .�a:ici Vi�lage sha11 f_'orthwith issue its ne�otiable
<br /> i i�tilicipal L:i_qt�or ;:�i,ere warraliLs, da t;ecl i�obr�_iary 9, 195y, iri ttie a�#-,re�ate
<br /> i�i��_r�ci��a1_ a.mou.tit of ��,1_5,000, said vrar•rarit.s to be t}iirt� :i_n number and
<br /> r�nmbex•E�d one i;o t��;9.rt,�� incl_,t�ivF., e;ach _in tlie denomitlat;i��n of' :;;500, bear-
<br /> in�� ititerest a�; t}ie rate of' _f'ive per cent x�er annur�i, F,a,�<�b=Le T'or ttie first
<br /> ,year cn I�'ebruary y, 1960, and serni-annu��i_ly thereafter on the yth day of
<br /> Au�•ust and tlte 9t,11 d�,y oi' N'ebr�.iary iri e�ch �-ear, said warr<<nts tu be ��re-
<br /> ��a;,�<zk>le on ��riy irrtFi�est �,�+,yirien�f; dat,�, i�o�tti princi}�al arld inte.rest shall
<br /> l:�e pa}��ble at ;�tate Lanl�; of' Lon�� L.a.ke, i�innesota, in an,y coin or currency
<br /> o_f' the Ifni ted Stat,es o.f America t��li:icli on the daLe of' ��a��nient is le�a1 ten-
<br /> der• 1'or public or private debt�. ;�-�id tirarrrnts shall mature `erially in
<br /> the order r>f ;�E�r•i�l �lumbex�s �s i'c>_l.loi�s;
<br /> ,,
<br /> _�_
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