The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-11
OFFICIAL PUBLICATION

A'y F No. 7758-
An Ordinance to authorize and provide
for. the issuance and sale of One Hun
dred Thousand Dollars (s1oo,ooo}, par
value, of the bonds of the City of ST.
Paul, Minnesota, to defray the expense
of constructing public school buildings.
Whereas, The City of st. Paul, Mime
sofa. did duly include and proyide in its
construction of public school buildings
during said year the sum of One Hun
dred Two Thousand Five Hundred Dol
Whereas, The funds so provided by
taxation as aforesaid are inadequate to
defray the necessary and actual cost of
course of construction and those neces-
sary to be constructed during the year
Whereas, There is now in the Treas
ury of said city, derived from taxation as
aforesaid, sufficient funds applicable
thereto and not otherwise appropriated
to pay more than one-fourth of the actu-
al cost of all of said school buildings now
structed from the proceeds of the bonds
hereinafter authorized, and the Common
Council of said city deems it necessary
that the sum of One Hundred Thousand
Dollars ($100, 000), par value, of the bonds
of said city shall be issued to aid in de-
fraying- the cost Of said improvements;
therefore
The Common Council of the City of the
City of st. Paul do ordain as follows:
SECTION 1.
That the proper city officers of the City
of ST. Paul, Minnesota, be and they are
hereby authorized and directed to execute
and issue One Hundred Thousand Dollars
($100,O00D, par value, in and of. the bonds
of said City of ST. Paul, for the purpose
Of defraying the cost of construction of
public school buildings in said city, and
fI,< c1,an oil hn o6 In q G
required by law and the charter Of said
city and under direction of it's Sinking Fund
Committee, in denominations of either
Five Hundred Dollars or One Thousand
Dollars each as the purchasers may desire,
and each bearing date September l, 1904,
and bearing interest at the rate of 4
per cent per snnum, payable semi annu-
ally, both principal and interest payable
at the Office of the Financial Agency of
the City of ST. Paul, in New York City,
New York, and the principal of each of
31st day of August. 1884, the said bonds
to be issued for, and their proceeds, in
Guiding any premiums realized thereon,
to be used and employed only for the
buildings in said city, all as provided for
and authorized in and by the terms of
Chapter 304 of the Laws of the State of
Minnesota for the year 1903, approved
April goth, 1903.
SECTION 2.
That said bonds when so issued shall be
negotiated and sold by the Sinking Fund
Committee provided for in the charter
of said city, and the proceeds thereof,
including any premiums thereon shall be
credited to and placed in the School .Ae-
commodation Account, so-ca1led. which is
set aside in the Treasury of said city for
the construction of public school build
ings; the proceeds of said bonds TO be used
and employed for the purpose above nam
ed and In the manner provided by law.
SECTION 8.
This ordinance shall take effect and be
in force from and after its passage, ap-
prevail and publication.
The foregoing ordinance will be pre-
sented to the Common Council Of the City
of ST. Paul, Minnesota, for passage, at a
meeting of the Assembly appointed to be
held on the 21st day of July, A. D: 1904,
at 1880 o'clock p. m, at the Council
Chamber, In the Court House and City
Hall Building in said city.
GEORGE T. REDINGTON,
City Clerk of said City.
July 11-12-13-1904-3t.