The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1891-05-07

CERTIFICATE OF THE BOARD OF MANAGERS.
we: lne 6oard of managers Of the Mime
sofa sofa State Reform school, do hereby certify
t tl,s we have caused to be borrowed upon
this certificate for the use Of said school, the
sum OF S-----; that the same is PAYABLE on
me flrst DAY of -. =, A. d. 1s9-, and bears
interest inter at The rate Of s per cent per annum
from iron this date, payable semiannually, on the
each year; and that tDO said Hinua amount nj
and interest is SO payable as afore
sag 70 ----:.----, or his order on presentation
State Of Minnesota at his office q; the city OF
st. Paul, Minnesota. 80
Issued and dated this. J.. day Of
| AID. 1S0E-..' :
Board q Managers Of the Minnesota State
| Reform School ~ I-tH
Countersigned and - :'s2.r'
Registered. 49,.
.'I2 State Treasurer Treasurer.
Sec. 43. The said loan and loans herein
| provided for shall not in the aggregate ex.
coed the sum Of one hundred and fifty thou.
sand dollars (S150,000).,t 49,, 49,
They shall be SO adjusted that not more
than fifty thousand dollars (S50OOo) thereof
snail become payable in any one year. nor
shall any part Of the principal thereof be-
come payable within one year nor after ten
years from the passage of this act or bear
interest at any rate exceeding six (6) per cent
! per annum, payable semi.annually. subject
| to these limitations the said board Of mana
gers are hereby authorized to negotiate and
make such loans, upon such time, terms and
IN such amounts us they may deem expedi-
ent.
SEC A. Upon payment to the state
treasury by the person from whom any such
Loan is obtained, Of the amount in such GER
tlhcate stated. the said treasurer shall insert
IN the certificate of said board the date there
! OF. and the name Of the person to whom the
same shall be payable, and shall number and
counterslgn the same, and deliver such GER
titicate to such person.
| Said treasurer shall make and keepin books
by him to be provided for that purpose. a
register OF sail certificates, ana of any assign
| ments thereof. Such certificate when so
co co. and issued by said treasurer.
s sna tor TAI all purposes he conclusive evidence
the issuing of the same have been fully com
Piled with and that the owner thereof is
lawfully entitled tdreceive the amount and
accordance with the terms aud contents Of
| such certificate. 80 -
SEQ. IS. The moneys obtained upon such
Loans p shall by the state treasurer be placed to
| aud Is hereby set aside and appropriated
Tor the purpose sof 1.-The ere ction. and
completion Of the necessary buildings for
said school and the equipment of the same,
and the suitable preparation of the perma-
nent siteifor said school in the county Of
Goodhue, TOR the uses and purposes thereof.
The state auditor, whenever so requested by
the board of managers, shall draw and de-
urerr therefor, and said treasurer shall pay
such warrants out of said funds delivered
| from said loans. .\.s-.-
Sec 4S. Upon the issuance Of the certti-
! lions described shall be thereby set aside as
| security, and shall be disposed of for the pay
| ment Of the said loans so made. And all the
| proceeds hereafter arising from the sale Of
| any OF said lands shall be paid into the state
| treasury. and shall therein be held and used
| the payment of the principal and interest
| OF said loans, and also to reimburse the state
| for any moneys it may have at any time paid
| terest thereon; provided, however, that
| whenever the whole amount of such pro-
| ceeds of such sales shall be more than sutfi.
cient to fully pay, said loans and interest
| the excess Of such proceeds shall, by the
| treasurer, be set aside aud credited to the Re-
| form school Fund. and shall be drawn, paid
| out and used in the same manner and for
| the same purposes as is provided in section
forty five, {45) Of. this act; and provided
| further, that the words proceeds of such
| sales. as used in this section, snail be con.
strued to mean and embrace the actual cash
! payments received at the time of such sales.
ana also the: unpaid part Of such purchase
| price of the land so sold, =. r:
! SEC. A. The state treasurer shall pay said
| certificates and the sem:a1nnally accruing
| Interest thereon, according to the terms
thereof. upon presentation OF the same, out
| Of any moneys at that time in the treasury
derived from the sale Of: said lands as afore-
said: and If at any time such moneys are in
sufficient for that purpose, he shall advance
| and pay the deficiency out of any other mon
eys in the treasury not otherW wise appropri.
ated, and an amount sufficient to meet such
deficiency, If any such exist is here
appropriation to be all annually con.
tfi i,,} appropriation until suca loans are
SEQ. IS. The board Of managers, when
OFF fn,
sale, aud sell any or all.of the said lands in
said resolution and certificate described in
| manner as is provided for in sections seven
teen an. eighteen (1S), and twenty (2O) of the
act hereby amended: and the said board shall
once in each year hereafter offer for sale as
in said section seventeen Q7) provided, all of
the aforesaid lands, except such parts there
OF ora as may nave been by them reserved for the
four (D of said act is provided.
SEC. ~. Section tHenty-seven (2D Of said
chapter two hundred and tifty.eight (:95s) Of
General Laws for one thousand eight hun
dred and eighty nine QSS9) is hereby amend
ed by striking out the prOviso to said section,
and inserting in place thereof the words fol-
lowing. to-wit: Nothing in this act shall be
so construed as to authorize the said board to
make or incur i'll Or about the erection and
completion Of said buildings any indebted-
ness or cost in excess .of the aggregate
amount:nltin1gtelv derived from the sale of
all of said lands as aforesaid a- -.
SEC. 50.Tf;N Othing in, this act contained
shall be Sc construed as to in anv manner
prevent Or restrain the Said board of man.
ayers from selling anysof the lands in section
OF thesact hereby amended described. or of
I disposing of the proceeds thereof as is IN said
act provided, at any time before the loans
herein provided for are made, nor to prevent
or restalnthe said board from!so sellingand
| disposing of the proceeds of any of said
lands, which may remain unsold after the
said loans have been fully paid Said board
OF managers are hereby authorized and di.
I'D t-n s,,$1 frr.,
st. Paul, from time to time. as same becomes
due, all charges and assessments heretofore
or hereafter made by the city. of St. Paul for
local assessments. and also for water tax
against any part OF said Ingersolrs addition
owned by the state OF Minnesota, or said
managers as such.
SEC. 81. AL acts and parts OF acts incon.
sistent with this act are hereby repealed so
far as they affect the provisions thereof
SEC. 50 This act shall take effect aud be
in force from and after Its passage.
Approved April II. 1891.
CHAPTER 13o-s F. NO. a13.
An Act to amend section two of title "K'' of
chapter 27l of general laws of 1855. relating
to the disbursements Of the appropriation
mentioned therein. .I ~. - :
Be it enacted by the Legislature of the State
SECTION |. That section two C) of title
TX" of chapter2H of the general laws of
one thousand eight hundred and eighty.nine,
enea Mn act to money TO aid
certain counties Of the state" be and the
same is amended as follows:
SEC, 2 That j. E. Webster, John G, Fif1eld
and e. J. Rice are hereby designated as a
COMMITTEES, on the part Of the state whose
duty it shall be to examine all the bills and
expenditures and make. a report to the state
| auditor Of. the same. showing the character
OF said bridge, the material used in its con.
strnction md the cost OF the same, and upon
receipt OF the said report the auditor shall
draw his warrant upon the state treasurer in
favor OF the county treasurer of Olmsted
Iseounty. Mili,eso the ansounr herein.
approprisa1tes t aud the said moneys shall be
discussed by the said county treasurer an
the warrant Of the county auditor to the said
committee toward. paying the expenses Of
money shall be paid out Of the treasure ~
therefor until the said bridge is fully com.
pleted and open for travel 49, = =
SEC = Ihis act shall take effect and be In
force from and after its passage, = ~ 80 -
Approved March 10, 1851. " 's,
CHAPTER 131-S, F, NO. Ss5