St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1907-05-10
CHAPTER 244-S. r. NO 442

NV cdAFlER us. f. NO. 448.
AN ACT to authorize and empower
cities in this state. Of the fourth class,
to issue bonds under certain circuno-
stances. and subject to certain provi-
SONS, for the purpose of aiding in the
roads,. "A
Be it enacted by the Legislature of the
State Of Minnesota:
city in this state. of the fourth class. is
hereby authorized and to is
sue negotiate and dispose of the bonds
fpir fuc tho city IN a 2 sum not exceeding
ing the limitations hereinafter provided,
Tor the purpose of aiding the construction
OF any steam or electric railroad which
may originate, pass through or terminate
in such city. Such bonds to be in de-
formations of from one hundred to one
thousand dollars. "
interest at a rate not exceeding six per
cent and shall not be negotiated or dis
posed of at less h par value, nor un-
tn the road or roads in the aid ct which
they are issued shall be actually con-
s%tructed from such city to some point of
connection with a railroad giving an out
le5, or rte connecting IN s;tg such city with an
class. But when the survey
has been made such bonds may be Is
sued and placed in escrow to be nego-
tlated and disposed of only as hereinbe-
fore provided.
Provided further, that no bonds shall
be issued. under the authority Of this act.
which taken together with the other legal
Indebtedness is defined by the General
Laws of this state, will cause the total
the assessed valuation Of the taxable
property Of such city.
s, Prov i'd further. that no SUCH bonds
this act until the following. requirements
have been fully complied with,
% That the common council Of such
G dafer has, at na a r regular meeting dh7g thereof
by a majority vote of it's members,
entered upon the minutes of it's proceed
ings,, that it will issue the bonds Of said
road therein named and described, in an
amount not exceeding a certain sum
therein specified upon an approval of such
acton acts by by the Legal voters Of such city;
therefor are not sufficient: that in order
to render such aid it will be necessary to
Issue the bonds of such city in such
election will be held at a time and place
therein specified, to determine upon such
bond issue, and notice thereof given re-
the amount and purpose Of such bond is
sue and the interest thereon.
C) That a majority of the legal voters
which such notice has been given both
by publication and posting, the former b.
publishing once in all of the newspapers
puOllSheQ IN Sucn CITY, and the latter by
posting in three conspicuous places in
each ward in such city at least ten days
before such election, shall vote in favor
Of said bond issue. Such election to be
conducted and returns made as provided
for the holding of general or special cleo
lions, as the case may be, by law or the
charter of such city. The vote at such
election shall be by ballot prepared by
the city authorities and shall be sub
%stant1ally in form as follows:
the city Of
with interest at a rate not exceeding
............ per cent per annum, for the
purpose Of aiding the construction Of a
to originate, pass through or terminate
in said city. Designate your choice by
marking an * opposite the word Yes
If you vote for the bond issue, or oppo-
site the word NO If you vote against the
bono ISSUE"