The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1902-08-14
Of
County Com
missioners.

! AUDITORS OFFICE. Mile Laos County, MINI
Princeton July 18TH 1902.
| Board OF county commissioners met pursuan,
to adjournment. Full board present.
In the matter of the hearing on the petition
| OF j. L. Mourning and others. asking for the
| location and establishment of a county road
notice OF hearing required by law not having
| been fully given. on motion the said hearing
was continued until the next meeting of the
board.
| The following report of the board of audit
| was presented to. the board for examination
and approval. and on motion the same was duly
accepted and ordered spread in the minutes of
| this meeting:
| To the honorable board of county commits
sioners of the county of Mile Laos, State OF
Minnesota:
Gentlemen
We the undersigned, board of auditors OF
| Mile Laos county, met at the office of the
county auditor on the 18th day OF May, 1902. at
O'CLOCK P. NJ, for the purpose of opening and
considering the bids or proposals Of banks or
bankers asking to be designated as deposito-
ries for the funds of the county for the ensuing
two years, pursuant to notice to banks or bank
ers published as required by law.
Inc following bids were received. viz: Bid
OF the Citizens State Bank of Princeton, offer
ing 1Gt on monthly balances for all the funds of
the county except 900 which was to be let as
a two years time deposit: bid of Bank of
Princeton offering go per annum for S.. 900 for
two years, time deposit; bid of the Mile Laos
County Bank OF Milaca, offering 2@ per annum
f9r f9r TWO years time deposit: and bid
20 per annum for $4,000 for two years, time
deposit.
After duly considering the several bids re-
celVed the board was unanimously of the opin-
lon that the rate of interest offered for time
deposits was too low, and it was decided to re-
advertise unless the rate of interest offered
should be Increased to meet the approval OF the
board. The auditor was instructed to notify
the banks bidding of the action of the board
ana ana that said board would meet on May 10Th,
1902, at 2 o'clock P. NJ, for further considera-
ton and to receive such further offers as might
be made.
Board Of audit met at the Office Of the county
auditor May 18th. at clock P. NJ pursuant to
adjournment, for the further consideration OF
the matter of designating repositories for the
funds of the county.
On motion, after due consideration no better
offers having been made, the Citizens State
Bank of Princeton was designated as deposit
tory for all of the funds of the county, except
bank agreeing to pay interest on monthly bal
ances at the rate of lft and to furnish a good
and sufficient surety bond in the sum of $40. O0O
On motion, no better offers having been made
the Bank OF Princeton was designated as de-
pository for S., 900 of the funds of the county
for two years. time deposit, said bank to pay
the county 21afo per annum for the same.
On motion, no better offers having been made
the Mile Laos County Bank of Milaca was
designated as depository for $40 900 of the funds
OF the county for two years time deposit, said
oank to pay the county 21@T per annum for the
same.
On motion. no better offers having been made,
the hanaDec county Bank OF Mora was deSig-
mated as depository for $4,000 of the funds Of
the county for two years. time deposit. said
bank to pay the county 21aGt per annum for the
same.
Said banks to furnish good and sufficient
surety bonds to the amount of their deposits.
All OF said banks designated by US as deposi-
tories for the funds OF the county, as aforesaid,
having furnished bonds executed by the United
States Fidelity and Guaranty Company of
Baltimore, Md, in the amounts decided upon,
which bonds have been accepted by this board,
we hereby submit the same to your honorable
law.
p. E. WHITNEY, County Auditor.
L. S. BRIGGS. Clerk District Court.
JOHN MCCOOL, Chairman of the Board.
On motion the bonds of the Citizens State
Bank, OF Princeton. in the sum of S45 OOJ, the
bond OF the Bank of Princeton in the sum of
S. .QM the bond of the Mile Laos County Ranl.