The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1872-02-15
OFFICIAL.
ORDINANCE no. II.

WHEREAS, At q meeting Of the Direc-
tors Of the Northern Pacific Railroad Com
pany, held in the city Of New York on the
18th day of December, A. D. 1871. a reso-
luton was adopted that in consideration.
among other things, of the right OF way
through the City of St. Cloud, twenty acres
Of land for depot grounds, conveniently
located. and good and sufficient guarantee
for the issue and delivery TO the St. Paul &
Pacific Railroad Company of Sixtv-ive
Thousand Dollars in the bonds of SAID city
bearing interest at the rate of not less than
seven per cent. per annum, payable semi
annually, the principal pay able in not less
than twenty years; the crossing by the
said St. Paul & Pacific Railroad of the
Mississippi river at st. Cloud bs at the
Wilson crossing, so-called; a copy Of
which resolution duly authenticated, was
at meeting of the Common Council scf
said city of St. Cloud, duly held on the
25lh day of December, A. D. 1871, pre-
sented and by resolution declared to be
satisfactory to said city, and the same, all
and singular the provisos terms and cou-
ditions thereof accepted. And ~Asrl,ss,
by virtue Of an Act Of the Legislature of
the State Of Ninneso'a, entitled can act
to authorize the City of st. Cloud to Issue
bonds to aid in the construction of the st.
Paul g. Pacific Railroad t',rnrc', sail city"
approved Feb. Sd, \. d. 1872, the said
city was authorized TO issue at any time
prior to the first day of August, \. u. 1878,
the bonds Of said city, with coupons at
tached, not exceeding the sum OF Sixty Eve
thousand dollars, to aid in the ccnstruc-
~ n I
sissippi river upon The line Of said Rail-
road, leading from the east side Of sid
river into the city of St. Cloud; and the
further sum of Fifteen Thousand Dollars,
or so much thereof as may be necessary,
to be used tor the purpose Of purch asing
the right Of way and depot grounds, for
said Railroad through and IN SAID city of
St. Cloud, and the Common Council Of said
city authorized to submit by ordinance the
questions separately. of issuing said bonds
in the sum Of Sixty five thousand Dollars
to aid in The construction of the Bridge
aforesaid. and in the further sum of Eff
teen Thousand Dollars. or SO much thereof
as may be necessary to be used for the pur-
pose Of purchasing The right of way and
depot grounds aforesaid. Now, there eore,
The Common Council of the Guy Of 81. Cloud
do Ordain:
SECTION l. That the bonds of the city
Of St. Cloud, with coupons attached, be
issued in the sum of Fifteen Thousand
found to be necessary therefor, to be used
for the purpose Of purchasing the right Of
way and depot grounds aforesaid; to bear
- -
snnum payable annually. and each with
SAID coupons to be signed by the Mayor
and countersigned by the City Clerk Of
said city. The SAID bonds to be payable
to tho bearer as provided hereinafter.
SEC. 2. The said bonds shall be in the
sum Of One Hundred Dollars each, shall be
numbered from one to one hundred and
fifty, inclusive. aud shall be payable as
follows: Fifteen Hundred Dollars in TWEEN.
ty years; Fifteen Hundred Dollars in
twenty-one years Fifteen Hundred Dol
lars in twenty-five years; Fifteen Hun
dred Dollars in twenty three years; Fiji
teen Hundred Dollars in twenty-four years
Fifteen Hundred Dollars in twenty five
years; Fifteen Hundred Dollars in twenty
six years; Fifteen Hundred Dollars in
twenty-seven years; Fifteen Hundred
Dollars in twenty-eight years, and Fifteen
Hundred Dollars in twenty.nlnr years after
date of each. The interest coupon due on
the maturity Of each bond shall be paya.
bic with the same.
SEC. 3. The said bonds shall be regis
tered in book kept for that purpose b.
the Clerk Of said city, with the number
thereof, when maturing, to whom and
when delivered SAID bonds shall be
delivered as may be necessary in
securing said right of way and depot
grounds, under direction Of the Common
Council. If prior to delivery as aforesaid, Of
any or all Of said bonds, interest shall bave
accrued thereon, coupons to the amount
of such accrued interest shall be detached
and destroyed, before such delivery.
SEC. 4. That the Common Council Of
said city shall order special election, as
provided by the act aforesaida. at which
election this ordinance shall be- submitted
for approval, in accordance with the pro-
vision Of asid act, approved Feb. 31.:A. D.
1872.
SEC. s. This Ordinance shall be pub
lished as by said act provided, prior to the
aforesaid special election, and shall take
effect and be in force from aud after It's
approval by a majority of tie voters Of
said city, qualified as provided in said act,
and its publication thereafter as provided
by law.
Ayes-Ald. Burbank. Carter. Dorr, Lamb,
Powell. T. Smith, J. G. Smith, schulten
and Mr.. President
=. Nuys-None.
l.. CLARK,
~. Presiacntiof Council.
Approved Feb. 7th, 1872. +.:--. =.
4;,s&.f. . -. :, -. =, .CHAs. D. KERR,
= ~ ss ,<st : Mayor
Attest: +. BARNES, \