The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-03

| C2ID of the general laws of eighteen hun
! dred and eighty-nine QSS9), be and the
! same is hereby amended so as to read as
| follows:
| See g. Said bridge shall be built under
| the direction of the county commissioners,
! and no part of the money so appropriated
| shall be paid out of the state treasury
! until said bridge is completed and ready
| for travel.
Sec 8. This act shall take effect and be
in force from and after its passage.
! Approved March 5. 1897.
CHAPTER 37-S. f. NO 800.
! AN ACT to create in cities of the State
of Minnesota having no more than fifty
| thousand and not less than fifteen thou
| sand inhabitants. local Improvement
fund, and to empower such cities to issue
their bonds and certificates or indebted
! ness for certain purposes therein men
toned.
Be it enacted by the Legislature of the
| State of Minnesota:
| Section 1. That each city in the State OF
| Minnesota having no more than hfty tnou-
! sand and not less than fifteen thousand IN
| habtants. is hereby authorized ana en-
powered by vote or majority OF lne
members of its city council to issue. in
! addition to all bonds heretofore issued by
! such city, within five years from the date
| of the passage of this act, its bonds in an
| amount to be determined by said city
! council not exceeding in the aggregate
| forty thousand 100000 dollars, for the
| purpose of constructing sewers or OF con-
! structing a sewerage system or systems
| in such city, and for the purpose OF pur-
| chasing and placing machinery necessary
! in the operation of such system or sys-
| TENS.
See .. Said bonds shall be for the prin-
| cipal sums of one thousand dollars Isl, 00O
each and shall be payable at such times
and at such place as the city council may
designate.
bearer. or to the order of the person or
| corporation to whom they may be de-
| livered, as the city council may deem best,
| shall draw interest payable semi annually
| at such place as the city council may de-
| termine, at rate not exceeding five 90
! per cent per annum, to be represented by
| coupons attached to said bonds. Said
| bonds shall be signed by the mayor and
! attested by the recorder or clerk of such
| city. and the corporate seal of such city
| shall be imprinted upon said bonds, and
said coupons shall be signed by said re-
Sec 8. The city council of such city
shall have authority to negotiate the sale
of said bonds in such manner as in its
judgment shall best SubServe the interests
of said city, but it shall not negotiate
sale, nor sell said bonds or any of them
at less than their. par value and accrued
| interest. nor until after a notice Of such
sale shall have been published at least
once in each week for three successive
weeks in the official paper of such city,
and neither the said bonds nor the pro-
ceeds from the sale thereof shall be used
for any other purpose than that hereinbe-
fore specified, and such purpose shall be
distinctly stated in the resolution or or
dinance authorizing their issue.
Sec. 4. There is hereby created in each
of such cities, for the purpose of facilitat-
ing the carrying out of contracts for the
making of local improvements, a fund to
be known and designated as the local
Improvement fund.-" to be constituted and
preserved and the moneys therein 10 be
used as hereinafter designated.
The city council of such city may by
mayor, within ninety days after the pas
sage of this act, transfer from the public
Improvement fund of such city, If there
be such fund, to said local Improvement
fund. such amount or amounts as it may
deem necessary and advisable for the pur-
pose hereinafter designated.
Said council shall have power, from year
to year. to include in it's estimate of eX-
penses for the levies of taxes such amount
or amounts for such fund as it may deem
necessary, subject, however, to all the
limitations for the levy of taxes in the
charter of such city contained. All moneys
which may be hereafter collected upon
local improvements made or hereafter to
be made and to be paid for by special as
SesSment shall be paid into such fund.
All moneys so transferred, collected and
paid shall constitute such fund and shall
be known as the local improvement fund
of such city; such fund shall be Npt in
violate, and no moneys shall be paid out
of such fund for any other purpose what
soever by the city treasurer than as here
matter designated.
All contracts heretofore or to be here
after made for local improvements, which
are to be paid for in whole by special as
SeSSments, and that portion of all con-
tracts which are to be?paid for in part by
special assessments. under the provisions
of the charter of such city, and no other
shall be paid for out of said local i'm
proVement fund.
If, at any time, it shall be found that
the moneys in said fund shall not be suffi-
c1ent to pay all amounts due and earned
on any such contracts as the work there
under progresses, then and in such event
such city is hereby authorized and en-
powered to issue from time to time its
certificates of Indebtedness, in anticipa-
ton of the collection of the special assess
ments for such contracts, in such amount
or amounts as may be deemed necessary
by its council to pay for such contract or
contracts, and to negotiate and sell such
certificates upon the best terms for said
city, subject, however, to all the condi-
lions in this act contained.
The issue of such certificates shall first
be authorized by a resolution in writing
passed by an affirmative vote of a ma
jority of all the members of the, council
and approved by the mayor Of such city,
If said mayor shall decline to approve
such resolution within five days after its
transmission to him, then the same may
be passed by said council notwithstand-
ing his objections thereto, by a two-thirds
vote of all it's members, and shall then
have the same force and effect as if ap-
proved by the mayor.
Such resolution shall designate the num-
Der of such certificates so to be issued;
the principal sum of each certificate; the
time or times when payable, and the pur-
pose for which the money realized there
on is to be paid.
Such certificates shall be numbered con-
time Of issue: shall hafI'o be 10 ma ade
payable to bearer or to the order
OF the person or corporation to whom the
same may be delivered. as the city coun-
ell may designate shall draw interest at
rate not exceeding six (6) per cent per an
mum; shall be payable at the city treasury
of such city issuing the same, not later
imam one year from the date of issue;
shall be payable out of the local improve
ment fund and no other of such city; shall
be signed by the mayor and attested by
| the recorder or clerk of such city, and
| shall have imprinted thereon the corpor-
| ate seal of such city.
The clerk or recorder and the city treas
urer of said city shall each keep an ac-
| curate record of all certificates so issued
| in book to be kept for that purpose
NO certificate shall be sold for less than
| par value and accrued interest
ANY and all proceeds realized from the
| sale of such certificates shall be turned
| into the local Improvement fund and no
| certificates nor the proceeds from the sale
| thereof nor any part or portion thereof
| shall be used for or devoted to any pur-
| pose, other than that designated in the
resolution authorizing their issue; the
city recorder and the city treasurer of
such city shall keep an accurate account
| of such fund showing in detail all moneys
| received for and turned into hid fund
and all expenditures from the same
| No irregularity or informality in the let
| ting of any contract paid for out of the
| proceeds of such certificates, or in the
| making of any special assessment in an
! t1c1pat1on of which such certificates were
issued, shall affect the liability of such
city, to redeem the same, but the faith and
| credit of such city issuing the same is