The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1856-03-22
Saint Paul.

Saint Paul.
We remarked yesterday, casually, tina
st. Paul was going ahead the coming season
and no mistake.
The time has passed with the croakers, WHIT
have b5cn prophesying from year to yeal
that "there must be reaction" True, mon
ey matters are now tight with business men
and consequently with all others; but the
opening of navigation will bring Fraction
in the opposite direction to the wish OF the
croakers. The clears" now have it, IN q
great measure, all their own way, but the
''bulls" will toss them high and dry within
the next three months.
Among other improvements which must
20 on the coming season in st. Paul--and to
which we have not heretofore alluded-is the
commencement of the expenditure of $780,
600 for the improvement of our Levee from
Chestnut Street to Broadway. This i'm
provement contemplates distance along our
river front Of at least one-half mile. The
Legislature has authorized our city corpora
ton to borrow the sum named, upon city
bonds, to commence this great work; and
there is no doubt that as soon as the proper
preliminaries are arranged, the amount cor'
templated will be forthcoming upon terms
highly advantageous to the present city and
the future taxpayer. If our people choose
to entrust the affairs of the city hereafter in
as able hands as they are at present, we may
expect to see very extensive congregation
of excavators, with their wheelbarrows,
carts, &C., lining our river front the coming
summer and fall. We hope and expect to
greet the opening of navigation in the spring
of ISL with much more commodious and
better levee in every respect than can be
found on the Mississippi river this side Of
st. Louis.
We will note another improvement to be
commenced this season-one of individual
corporate enterprise: Sufficient of the stock
of the st. Paul Bridge Company has been
taken to justify the commencement of tire
work at the foot of Wabasha Street by the
first of May. The plans are not yet fully
matured, but the work will be commenced
at the time designated.
On we go!
The following is copy of the act referred
tc above, which authorizes our City Corpo-
ration to borrow money for the improvement
of the Levee:
IN ACT to authorize the Common Council o
the Ciy of s., Paul to issue Bonds for cea.
tain purposes.
Be it enacted by the Legislature Of the
Territory of Minnesota:
SECTION /. The Common Council of the
City of st. Paul is hereby authorized and
empowered to issue bonds of said city to ar
amount not exceeding thirty thousand dol
lars, bearing interest not to exceed twelve
per cent. per annum, and for time not less
than ten, or more than twenty years, to raise
money to be expended in opening and grad
ing Water street in said City from Chestnut
street to Broadway, and in the construction
of City Buildings for said city, and to pro
vide for the payment of the interest on the
amount of the bonds issued.
Sec. g The bonds issued Under, and by
virtue of this act, shall be signed by thu
Mayor of said city, and countersigned by
the Clerk and Comptroller, under the cor
porate seal of said city, and shall be i'll sum
of not less than two hundred and fifty dol
lars each, with interest payable annually, a
such place as the Common Council may de
termine.
Sec. 3. The Common Council of sale
city may, at any regular meeting, direct b.
resolution the Mayor to sign, and the Clerl
and Comptroller to countersign, the who'll
amount of bonds authorized to be issued b,
this act, or such part thereof as the boar;
may determine and the Common Council
may authorize or employ suitable person
to negotiate the bonds so directed to be is
sued, and to place the proceeds thereof il
the treasury of said city but before sucl
person shall receive said bonds, or be EN-
trusted with them for negotiation he shall
execute his bond to the city, with good ant
sufficient securities in the penal sum c
double the amount of city bonds SO to b
entrusted to him at any one time, condition
ed for faithful performance of his duty an
strict accountability for all moneys receiy
by him from the sale of said city bonds
which bond shall be approved by the Com
mon Council, and filed in the Office Of tn
Treasurer of said city and the Commo
Council shall fix, 10y resolution, the com
pensation ofsuch person: Procided, however
he shall not receive, including all expenses
to exceed one per cent. on the amount {
city bonds negotiated by him.
Sec 4. 1t shall not be lawful for the Com
mon Council Of said city to pay out, or ea
pend in any way, the money raised by til
city from the sale of said bonds, except i
the manner, and for the purposes recited j
this act nor shall the funds thus raised b
subject in any way to the payment of an
claim against the said city Of st. Paul, eA
cept as herein prescribed.
Sec. 5. 1t shall be the duty of the Con
mon Council of the city Of ST. Paul to pre-
vide for the payment of the interest, and til
ultimate payment of the principal of an
city bonds which shall be issued under tn
act; and for that purpose said Common Coul
Gil is hereby authorized and empowered
assess and collect annually, a special tax 9
the real and personal estate of said city, su
ticient to pay the annual interest On sal
bonds in the same manner as other taxes al
now levied and collected by law; which sp'
cial tax shall be payable in money only, an
shall not be paid out by the City Treasure
for any other purpose than payment OF the il
terest on said bonds; and the good faith of Il
city of st. Paul shall stand pledged for I'll
punctual payment of the interest, and IL
ultimate payment at maturity, of all cit
bonds issued, under the provisions OF tn
act.
Sec. 6. This act shall take effect and
in force from and after its passage.
nc GARDNER