Echo de l'ouest. [volume] (Minneapolis, Minn.) 1883-1929, 1903-05-01

CHAPTER sS3-s. F. NO. $50:
AN ACT to amend section l Oh. r. mo.
80. of An act to authorize ana EN-
power the city council or common counoo
Gil Of cities In this state Of over oo;Oo9
inhabitants to issue and sell munlclpaa
bonds and use the proceeds thereof i9 OF
d1 ede1 imnrd dne e9st 1 IN mtn'ns Of
streets and In front OF property eKenlp.
by law from special assessments ap-
proved March 9Th. 1908. tho
Be it enacted by the legislature OF the
State of Minnesota:
Section /. That section 1 Of satd act
be amended in the following particulars:
First BY striking out the ged 5osio from
the date thereof" where the same appear
In said section 1 Immediately following
the words "and at such times ano ~
sert IN lieu thereof the t Word 49, xnG fhe re 81
Second. By striking out the. words ~
to bear interest at q rate not TO exceeo
three and one-half (3k) per cent Per IN = Il
section i Immediately following words las
may be deemed best" and insert IN lleu
thereof the following words: and. pear ar
interest at a. rate not to exceed houf ~
Third. BY striking out the following
words from said section l: And no bonos
shall be issued under the provisions o.
from the date Of its passage" where the
same appear at the end Of said section 1;
Sec. q. This act shall take effect ana
be in force from and after Its passage
Approved April 81, 1903.
CHAPTER 8s4-H. F. NC. ola.
AN ACT to authorize and empower the
city council or common conncH 81 ta an9s
to issue and sell municipal bonas lof Tue =
purpose of purchasing or bullolng h,, q
public hall and auditorium TOT puono
meetings of such cities.
Re If enacted by the legislature OF the
State of Minnesota:
Section L. The city council or common
sounc Ha Of each sn,ns city tyr in h fn59 si iahab otm
in addition to all the right ano lU"ei is
heretofore; granted thereto by aa"' +d rs
hereby authorized and mpoWereo'; 1Ol
from time to time, as needed. the nego,
table, bonds Of their respective clues, 70
an amount in the aggregate not to sxcseo
one hundred and fifty thousand aoli;a o. ..
lions and payable at such places ana AZ
such times, not to exceed thirty Years
from the date thereof, as may be deeH1eu
best, and to bear interest at a rate not 70 70
| exceed four per cent per annum, payable
se~mi-annually, and. to have interest cou-
pons attached payable at such place OF
places as shu be designated thereln! ana
said city council or common councll; as as
the case may be, is further authorizes %
negotiate and sell such bonds from Gme
to time to the highest bidder or BIDDERS
| CnGT6IOT, ana upon Lax ICE = LIZ
can be obtained for said bonds: Provided,
that no such bonds shall be sold for q less
amount than the par value thereof nno
accrued interest thereon; ana rGv1oe lee
sued until the %issuanc thereof IS author.
lied by resolution OF ordinance duly
passed by a four-f1fths vote of all the
members of the city council or common
council Of the city proposing to issue the
same. And no bonds shall be issued under
the provisions of this act after the exp1.
ration Of six months from the Gate OF us
Sec. 2. Nothing herein contained shall
authorize the issue at any time OF tne
bonds Of any such city to such an amoan1
the bonds actually issued, by such city
and still outstanding, together with tn
proposed ISSUE, less the amount Of the
fnn d s and d bondg ct such = paf ETY. " T gha sin i!iaa
bonds. shall exceed ten per cent OF thu
assessed valuation Of the taxable prop
erty Of such city, as shown py the Las
pi Zee. g. XII Bonds issued under author
ity Of this act shall be sealed with thu
seal Of the city issuing them and signeS9
or recorder, and countersigned by TN
city comptroller or corresponding officer
if such officer exists In such city. The
sold under authority Of thia act shall bt
placed in the city treasury Of the city is
suing. the same, and shall be used only
for the purpose Of purchasing a public
han and auditorium for public meetings
Of such city, either by the purchase o.
alteration and repair Of such buildings o.
BY the purchase of suitable grounds ane
the erection of a suitable building thereon
The proceeds of said bonds or any there
OF shall not be used for any other pur'
poses thar those ~hereinbefore specified,
Sec. 4. This act shall take effect ant
be in force from and after Its passage.
Approved April Fl, 1903.