The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-24

vided
Sec. 10. This act shall not be construed
as many manner superceding, repeal
ing, amending or qualifying the provi-
slons OF any home-rule charter hereto
lore adopted by any city or village I'M
der existing laws, and shall not in any
lage.
Sec. IL. This act shall take effect and
be In force from and after it's passage.
Approved April u, 1903
CHAPTER 3s3-S. F.. NO. $50.
AN ACT to amend section Oh. F. No.
80 OF An act to authorize and en-
power the city council or common coun-
ell OF cities in this state of over $4,000
inhabitants to issue and sell municipal
bonds and use the proceeds thereof for
defraying the cost of making certain
local improvements in intersections of
streets and in front of property exempt
by law from special assessments ap-
proved March 9Th, 1903.
Be it enacted by the legislature Of the
State of Minnesota:
Section l. That section l of said act
be amended in the following particulars:
First By striking out the following
words: mot to exceed ten years from
the date thereof where the same appear
IN said section 1 Immediately following
the words land at such times" and in
sert in lieu thereof the words mot to ex-
ceed thirty years from the date thereof"
Second. By striking out the words land
TO bear interest at rate not to exceed
three and one-haf (3k) per cent per an
num-" where the same appear in said
section Immediately following words las
may be deemed best" and insert in lieu
thereof the following words: and bear
interest at a rate not to exceed four "a
per cent per annum."
Third. By striking out the following
words from said section /: And no bonds
snail be issued under the provisions of
this act after the expiration of six months
rom the date of it's passage" where the
same appear at the end of said section l.
Sec 2. This act shall take effect and
be in force from and after its passage.
Approved April q, 1903.
CHAPTER 3S4H. F. NO. 914
AN ACT to authorize and empower the
city council or common council of cities
in this state of over $4,000 inhabitants
to issue and sell municipal bonds for the
purpose of purchasing or building a
public hall and auditorium for public
meetings of such cities.
Be it enacted by the legislature of the
State of Minnesota:
Section 1. The city council or common
council of each city in this state row or
hereafter having over $4,000 inhabitants,
in addition to all the rights and Lowers
heretofore granted thereto by law. is
hereby authorized and empowered, for
the purposes herein designated, to issue
from time to time, as needed, the nego-
table bonds of their respective cities, to
an amount in the aggregate not to exceed
said bonds to be made in suchdenomina-
lions and payable at such places and at
such times, not to exceed thirty years
from the date thereof, as may be deemed
best, and to bear interest at a rate not to
exceed four per cent per annum, payable
semi-annualy, and to have interest cou-
pons attached payable at such place or
places as shin be designated therein; and
said city council or common council, as
the case may be, is further authorized to
negotiate and sell such bonds from time
tiTf1n fA hn oh or
therefor, and upon the best terms that
can be obtained for said bonds. Provided,
that no such bonds shall be sold for q less
amount than the par value thereof and
accrued interest thereon; and, provided
further that said bonds shall not be is
sued until the issuance thereof is author
lied by resolution or ordinance. duly
passed by a four-ffths 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 eXpi-
ration of six months from the date of its
passage.
Sec. 2. Nothing herein contained shall
authorize the issue at any time of the
bonds of any such city to such an amount
that the whole amount of the principal Of
the bonds actually issued by such city
and still outstanding, together with the
proposed issue, less the amount of the
funds and bonds of such city, which shall
be in and constitute part of the sinking
fund of such city. for the payment of
bonds, shall exceed ten per cent of the
assessed valua ton of the taxable prop-
erty of such city, as shown by the last
preceding assessment
Sec. 3. All bonds issued under author
ity of this act shall be sealed with the
seal of the city issuing them and signed
by the mayor and attested by the clerk
or recorder, and counterSigned by the
city comptroller or corresponding officer,
if such officer exists in such city. The
proceeds of any and all bonds issued and
sold under authority of this, act shall be
placed In the city treasury OF the city is
suing the same, and shall be used only
for the purpose of purchasing a public
hall and auditorium for public meetings
of such city, either by the purchase of
suitable grounds and buildings and the
alteration and repair of such buildings or
by the purchase Of suitable grounds and
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 than those hereinbefore specified.
Sec. A. This act shall take effect and
be in force from and after its passage
Approved April 81 1908.