St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1909-05-07

ton 81 the said town supervisors shall
by resolution designate: Notice OF such
election shall be posted by the town DIV g clerk *
least Ave public places within said town.
not less than twenty days before such
annual or special town meeting Is held,
pose and amount Of thes proposed bonds.
If at the time Of the passage Of the
resolution by the supervisors or at the
a a1ms Of ref fas Rff Is IN th1s ]s aa saa P f shall
be more h sixty days prior to the
then next regular annual town meeting.
then in such, case it shall be the DUTY
OF the board of supervisors to call a
special election to vote upon the propo-
sition expressed in such resolution Or Pc
tition.
the town in case of such election q suit
able box in which ballots cast at such
election for or against such proposltlon
shall be deposited. The ballots used at
Shall shall f have printed, int IA theron e1nD "Fer road
and bridge %refunding bonds-n1es.-
For o and bridge. refunding ponos1;a
proposition shall place a cross marx thu IS
* * M in 3 pnl9S es, to o. b the left Wor oPp @aee" e'! Tse
votes cast thereat shall be ~canvasssd and
counted and the results certified IN IKE
manner as in case of an election for town
officers.
at said election be in favor Of such
proposition the said town sa,oh SUPERVISORS s;ms
stated in the election notice, which bonds
shall not be negotiated or sold for less
due and payable within twenty years
from the date Of issue thereof and shall
not bear more than six per cent interest
hall ISSUE or sell it's reminding bonds
under this act to such an amount that
the aggregate amount Ct indebteddne sfs
Thereof tes1 ner sh eant at 81 a1 fRe one asz tims ev Tsleati ion
Of the taxable, property Of such town as
indicated by the last preceding assess
ment.
Sec. s. Before any such town shall be
authorized to issue it's ~refunding bonds
.sas hereinbefore provided, the town SUI
pervisors shall give notice by publica-
of,eiai newspaper Of the county IN which
said town Is situated and by similar pub
lication for the same length Of time In a
weekly weekly or daily all neWspa gRPS e Rrin mhfdh at s 5hs
newspapers shall be designated therefor
by resolution of such town supervisors
duly made and recorded; that the said
named In such notice.
Sec. 8. At the time and place named
visors shall. open and consider said bids
and may thereupon sell said refunding
bonds to the person, company Or corpor-
alton offering the most ad~vantageous
Provided, that said town supervisors
may reject any of the bids offered for
the purchase of such bonds 1t they deem
it necessary for the best interest OF the
town so to do.
Sec. z. The money realized upon the
sale of such bonds h be, placed IN
the town treasury and devoted SO far as
may be necessary to the payment of the
original bonds for the payment of which
such %refunding bonds were issued, and
payment. shall be turned into the road
and bridge FUND of such town. 1t shall
be the duty Of the town treasurer after
the sale of said %refunding- bonds to
promptly pay off the original bonds as
they are presented to him. Upon such
inal bonds and coupons that may be at
tached thereto, "canceled and paid"
Sec. 8. The board Of supervisors of
any such town and their successors are
DAY Of October next. after the date Of
said refunding bonds. and in each and
every year thereafter on or before the LIST
. day of October until the payment of said
bonds and interest is fully provided for,
to levy and in due form certify to the
is situated the taxes upon the taxable
property of said town equal to the amount
Of principal and interest maturing next
after such levy, and in the discretion of
said board Of supervisors such further
sum as it shall deem expedient, not ex-
bonds and interest. which taxes shall be
payable in money and shall constitute q
fund for the payment Of said bonds or
interest thereon.
Sec. 9. This act shall take effect and
be in force from and after its passage.
Approved April 90, 1909.