Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-06

AN ACT to authorize the Common Coun-
Gil of the City of st. Paul, and the
Board of County Commissioners of Ram
sey county to issue bonds for the erection
of public buildings for the use of theCity
of st. Paul and the County of Ramsey,
and to amend section two, and to repeal
sections seven CD and eight (9) of an
act entitled San Act in relation to the
erection of public buildings for the use
of the City of st. Paul and the County
of Ramsey, upon block twenty (2O) of
st. Paul Proper, known as the Court
House Square, IN the City of st. Paul,
approved March eighth (8) one thousand
eight hundred and eighty-one q881.C"
Be it enacted by the Legislature of the
State of Minnesota:
Section 1. For the purpose of the erec-
ton of public buildings for the use of the
City of st. Paul, and County of Ramsey,
the Common Council of the City of st.
Paul is hereby authorized and empowered
to issue the bonds of said City to the
amount of one hundred and fifty thousand
(S150,000) dollars, and the Board of Coun-
ty Commissioners of the County of Ram
sey, aforesaid, are hereby authorized and
empowered to issue the bonds of said
county to the amount of one hundred and
fifty thousand ($15O,0OO) dollars. Said
bonds shall bear intrest at rate not to
exceed five (5) per cent. per annum, paya-
BILE semi-annually in the City of New York,
and the principal thereof shall be payable
in thirty (30) years from their date, at the
financial agency of the City of st. Paul and
of the County of Ramsey, in the City of
New York. Said bonds shall be
issued in denominations of one thous-
and ($1,OO0) dollars, with sixty (6O) inter
est coupons attached, and none of such
bonds shall be negotiated or sold for less
than par. Also, the said bonds shall be
issued by the said city and county only as
they are required from time to time for
the purpose intended to be determined
upon by the said special Commissioners
who shall report to the Common Council
and Board of County Commissioners, the
amount required to be issued.
Said bonds when issued shall be deliver
ed to the Mayor of the city of Saint Paul,
who shall receipt to the City Clerk for
those issued by the city. and TO the County
Auditor for those issued by the county,
after which the said bonds shall be nego-
tiated by the Commissioners of the Inter
est and Sinking Fund of the City of Saint
L
placed in the hands of the City Treasurer,
taking from him duplicate receipts there
for, one o. of which shall be filed in the
Office of the County Auditor and one in the
Office of the City Comptroller.
All moneys belonging to the "Court
House and City Hall building fund.-" shall
be deposited by the said Treasurer in the
bank or banks that will pay the highest
rate of interest upon daily balances and
the said bank or banks shall be required
to give such bonds for the safe keeping of
said moneys as the County Commissioners
and Common Council in joint session may
determine. All interest collected upon said
deposits shall be placed to the credit of
said building fund, and the one-half o.
of whatever balance remaining in the
Treasury to the credit of the said building
fund after the final completion of the
building and the adjournment of the spe-
cial commission, shall be paid by the City
of Saint Paul to the County of Ramsey
The said Board of County Commissioners
shall annually levy sufficient tax upon
the taxable property IN said county for the
purpose of paying the interest and provid-
ing for sinking fund to pay the principal
of said bonds issued by said county, and
the said Common Council of said city
shall levy annually a sufficient tax upon
the taxable property in said city to pay
the interest and provide sinking fund to
pay the principal of said bonds issued by
said city.
Sec. 3 That section two (2) of said act
in relation to the erection of public build
ings for the use of the City of Saint Paul