New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1895-05-22

ossl.s. anu the principal sum OF all special
levied on account of any local improve
ments, as well as all taxes levied on ac-
count c,4 OF such fund, and there shall be paid
improvements ,11l',,o for which special assess
ntents are levied, and such amount of ex-
DC refunded. and for no other s purpose
whatever. And the city shall maintain
Sgcil n, ftin a, sufficient to meet the expenses
,1nle payable, as III this act provided. And
n..S City council may from time to time by
s .id BY a three-fourths rs vote is
~, negotiate and sell certificates Of in
NEEptedhess for the creating or maintaining
VI sne eh fund, and such certificates shall not
est. and shall bear interest at a rate not to
exceed exec, i've % per. cent per annum,. and
snail be made payable from said fund and
rmne d ne city thnt t the
amount of certificates so issued shall not ex-
ceed at any one time two-ffths i2-5) Of one
Fry Of such city, according to the last pre-
Sealng assessment for purposes Of taxation;
Provided, however, that cities already hav-
ing created a permanent improvement re-
.oiying fund by the issuance Of bonds up
to the limit prescribed by existing laws.
Gates or indebtedness MS permitted by this
See: 81 WATER AND LIGHT WORKS
Of Its own water and hgh works or either.
an accurate account shall be kept Of all
rents, fines, dues, assessments, excess of
assessments and appropriations made on
account of or accruing in the water and
lights works department, or either, and
the proceeds of the sale Of all bonds issued
on account of the same, the proceeds Of any
property used or operated by the depart
mcnt; and also all salaries and expenses in
eu cur In the operation Of the
water and light works, or either, and the
cost of the construction, enlargement alter
alton or repair Of any and all stations. ma
cninprv hVHr0ntS
ton Of the cost Of any main or appurte-
nances, chargeable, to- the city and not
ceived for rents. fines and dues shall be
paid into and accredited to the current ex-
pense fund, and receipts from assessments
and other sources shall be paid into and
credited to the proper fund above provided.
And an appropriation shall be made to de-
fray the expenses OF the department from
the current expense fund, as appropriations
are made for other departments
Sec o., PARK FUND. In any city now
or hereafter having a. system OF public
parks there shall be maintained in the city
treasury q fund to be designated as the
Park Fund, and into such fund shall be
paid all amounts received from the sale Of
any park property, and the principal sum
of all special assessments and benefits as
Gessed or levied on account Of the acquisi-
ton opening, laying out, extending or i'm
proving of any park, parkway or boulevard,
advanced ont of such fund, and all amount
Of taxes, interest and penalties accruing
thereto by reason of the levy of any tax
for the use Of park purposes, and out Of
such fund shall lie paid all interest upon
bonds issued by or on account of parks.
and all salaries and expenses incurred in
the operation OF the department Of parks
and the cost Of acquiring, opening, lay
ing out extending and improving any park,
parkway or boulevard.
Sec %; LIBRARY FUND. In any, city
there shall be maintained in the city treas
nry fund to be designated as the Library
Fund, which shall be under the control OF
such library board and subject to be paid
out upon its order, and into such fund shall
be paid all amounts received from the sale
Of any property under the control Of such
the proceeds received from the sale Of any
property under the control of such board,
crutns thereto by reason Of the levy Of any
taxes for such board, and out Of such fund
shall be paid the expenses Of such board
ura all salaries, and the cost of the acqui-
sition, maintenance and operation Of the sys-
tenn of public libraries OF the city, and OF
the property under the control Of such
Sec o. EDUCATIONAL FUND. There
shall be maintained in the city treasury a
n fund to be deTgnated as the 81 Edneatona
moneys received from the sale of any prop
city under the control of the educational
department of the city, and all taxes, in
tcrests and penalties accruing thereto by
reason Of the levy OF any taxes, as we'll as
all other moneys received for educational
control of and dsbursed upon orders of the
board Of education in cities where board
Of education exists, and out of such fund
shall be paid the expense and cost of the
maintenance of the educational system of
the city, and the salaries and compensation
he ocG teachers and fah
herein contained shall apply to any city or
village whose territory has heretofore, in
dependent school district and SO exists at
the present time.
to be designated as the Interest Fund
which shall be maintained by an annual
levy upon all the taxable property of the
balance remaining in said fund. shall be
sufficient to pay the interest to become due
during the next fiscal year, upon all the
maintained in the city treasury such other
funds, and the city treasurer shall perform
such other duties as are prescribed By law
Sec. o6 SINKING. FUND. In every city
of this state. in order to provide for the
the city &c Council shall establish and main in
tain sinking fund, and where the same
cas- been heretofore established: shall main
nance for the care, Investment and security
Of such fund, but shall have no authority
to abolish the e,, same until all the bonds Q,
said fund, nor any revenue nor increase
thereof for any purpose.
Sec. 81. now MAINTAINED. Such fund
shall be maintained by an annual tax levy
Of one-tenth Q-10) Of one per cent Of the as
sesscd valuation of all the taxable property
In II. the city which shall be made by the
city council at the time Of levying taxes
placed in such fund any and ali ali amounts ,i,n1 Is
Of taxes collected to pay the interest on the
of such interest, II any there be, and all
revenues of the city not otherwise appro.
priated.
Soc os sINKrrr. rrrNp ro,,,,,eero,
ERS. The mayor, controller and treasurer
shall constitute a Board Of Sinking Fund
Commissioners, and the city council. shall
define such of their duties as are not herein
enumerated. Such commissioners shall have
charge of said sinking fund, and by and
Invest the. same in the bonds and ccr rIf
Gates of the city and such other bonds as
are permitted for. the investment Of the
ncsota, and In the bonds Of any city in the
State of Minnesota. and in such county and
school bonds IN the State of Minnesota as
not otherwise.
se Sn o. Rob R"Xp S1 OF CITY IN SINKING
oestn fa In the bonds or certificates Of the
fund is; established, such bonds or certifi
Gates shall not be cancelled before the ma
commissioners and the interest thereon
paid over and applied to the increase Of
Soc. lo S.'' PAYMENT Aii: OF BONDS FROM
SINKING FUND. Whenever the principal
become due such commissioners shall by
md with the consent Of the city council
dispose OF such of the bonds or certificates
belonging to, such funds as with the. money
on hand belonging to the same, shall BIZ
necessary to pay such bonds or certifl
Gates
ia" See. 1o1. DIsCoNTINUANCE OF SINK
ING FUND TAX. Whenever the amount
Of such sinking fund shall, with the inter
est or. revenue thereof computed to thu
time Of the maturity Of the bonds OF thu