The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1905-10-05
r.,:so,usacHSs on BOND ISSUE.

RESOLUTIONS on BOND lSSOG.
Al Special meeting OF the City
Co,.n 81 d ,Haae City of Sank Centre, In
III, Comfy of Stearns and State OF
Minneso.a, held on Monday, 2oth day
of August, A. D. 1905, at which were
present President Pangburn, Alder
men Dilsdaie, Richards and Marshall,
the io'I,ving Resolution was offered
by Alderman MARSHALL:
WHEREAS, the City of Sank Centre,
in the Comfy of Stearns and State OF
Minnesota, has heretofore issued It's
Ten Thousand Dollar refunded bonds
for purpose authorized by law, SAID
bonds bearing date July l, A. D. 1888,
and pay able July 1, 1905, with interest
al the rete of five per cent per annum,
interest payable semi-annually, which
bonds were on the 18th day OF July,
1895. delivered by said City to the
bank Of Sank Centre, said bank being
the pui ;l.aser for the entire issue OF
said honds at par with accrued in
terest 20 late OF delivery, and
WHEREAS, said bonds thereupon
became valid and lawful indebted
ness Of said city and continue 80 to
be, and
WHEREAS. said bonds by their
terms mstured July l, 1905, and said
city is without the funds to pay the
same o: any part thereof, and it is
deemed necessary and for the best
Interest," Of said city to refund said
Indebtedness by the issue of new
bonds a lover rate of interest, and
Wni,.iAG, the Common Council of
said CITY of Sank Centre at an adj
louynnt Meeting legally called and
held o,s he 18Th day Of August, 1905,
accented he offer OF u. NJ. Stoddard
&, Co - purchase the proposed issue
OF Few bonds st par, plus premium
Of N:y 500 Dollars, and furnish
without expense to said city the blank
bonds fot its execution, said bonds
to be ~ denomination of One ThOus-
and DDil,rs ($l ,0O0) each with interest
thereon ii the rate of four and one
quarter (4I) per cent per annum,
interest payable semi-annually,. ......
................sa said bonds to bear
date Of July IS, 1905, and to mature
July Il, 1925.
Now THEREFORE,, BE 1T RESOLVED,
that tle,a shall be, and there is, here
by ordered issued the Negotiable
Coupon, bonds of said city of Sank
Centre 50 the aggregate amount of
Ten Thousand ($10,O00) dollars, for
the purpose of refunding the aforesaid
issue Of bonds dated July l, 1895, and
due July !, 1895: that said bonds be
issued in denomination OF One
Thousand ($l ,000) dollars each, bear
ing interest at the rate of four and
one quarter 90 per cent per annum,
interest thereon payable semi-annually
Oh the i5th days Of July and January
Of e1''s, lear: that said bonds be dated
Lu.y j., 1905, and become due and
payable July Is, 1925;
RIsHphvED FURTHER, that said
bOuds he issued in accordance with
'GhapSe' 14S Of the General Laws of
Rim ,aota, 1898, and the several acts
amendasory thereof that said bonds
be designated as refunding bonds OF
the CITY OF Sank Centre, and shall be
.payable to u M. Stoddard & Co., or
tbearcr. with coupons attached for the
semi annual interest payments as
s.a.5ey sevefaliy mature, and shall be
executed in behalf of said city by the
Mayor and Clerk thereof; that the
Seal OF said city shall be affixed to
the bonds. but not to the coupons
attached thereto; that the form Of
said bonds shall be as follows.
UNITED STATES OF AMERICA,
STATE OF MINNESOTA,
City Of Sank Centre.