Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1911-12-20

Whenever the Council shall pass
any ordinance to issue bonds pur-
suant to the provisions Of subdivis-
ions one, two, four or five Of this
section, such ordinance shall provide
for the submission to the legal voters
Of the City, at some general or spec
ial election to be called by the Coun-
Gil for that purpose, the proposition
for issuing such bonds, to an amount
deemed by said Council advisable.
Such election, whether general OF
special, shall be conducted in the
same manner and with the same for
malties as such elections are con-
Quoted under the general laws Of this
State.
The ballot to be voted at such cleo
ton shall read substantially as fol-
lows: "Shall bonds be issued by the
City Of Willmar under the provisions
Of Section IS, Chapter V, Of the
Charter of said City to the amount
Of -dollars, for the pur-
pose of------- and no
such bonds shall be issued until such
ordinance has been approved by a
majority Of the legal voters voting at
such election.
The debt of the City shall not be
increased by bonds or otherwise be-
yond eight (8) per cent Of the to ;al
| value Of the taxable property Of the
| City, according to the last proceed
ing assessment for the purpose Of
taxation; provided, that bonds may
be issued as above provided in sub
divisions one, two, four and five, but
the total amount of such bonds when
added to the other Indebtedness of
the City shall not exceed nine (9)
per cent of it's taxable property us
above defined; and provided, further,
that bonds may be issued, as above
provided, for the funding of the
City's bonded indebtedness whenever
required; and provided, further, that
certificates Of indebtedness against
taxes levied and assessed may be is
sued as hereinafter provided.
Bonds, certificates and other evi.
dences Of Indebtedness and obliga-
tons Of the City authorized by this
section shall in no event bear q
greater rate Of interest than six pei
cent per annum, and if they run fo1
more than five years shall not ben,
a greater rate of interest than five
per cent per annum, and shall in ne
event be sold for less than the pn1
value thereof, and shall be sold ii
accordance with the provisions Of
Section 785 Of the Revised Laws Of
the State of Minnesota. Except a!
| provided in this Charter, no war.
rants, bonds, or other evidences O.
indebtedness shall be issued by tn,
City or by any one in it's behalf"
j The purpose and object Of the pro
posed amendment is to confer upo,
the City Of Willmar the right and au
thority to issue bonds Of the said City
} upon approval by the voters thereof
for the purpose Of constructing
maintaining, extending, charging o
improving a suitable fire station, en-
CINE house or City Hall, or for th,
: acquiring or praying for any real es
, tate or other property needed in con
r nection Herewith, the amount of sal,
, bonds however not to exceed the sun
Of Nine Thousand ($9,000.00) Dol
lars; it being deemed expedient b,
the Board of Freeholders that suit
, able fire station and engine house b
: erected for the purpose of properl,
| protecting; the fire apparatus, an
7 there being no authority in the pres
ent Charter to issue bonds for sue
purpose. ~.