St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1913-05-02

AN ACT entitled IAN act to amend Section
County 90; gh1 ponas 1 for s haSz or 1' ;6d;c; rsIa, d3lgnc to
issued under proceedings heretofore begun
Be it enacted by the, Legislature Of the
Section j. Section %. Chapter 40. Laws
1907. is amended to read as follows:
Section %. The County Board in each and
state. or judicial ditch is proposed to he
wholly or partly located and established.
shall issue the bonds Of their respective coun-
sessments against lands in such. county as
evidenced by the statement provided for by
expenses incurred or to be incurred in locat-
ing. constructing and establishing as much
OF any ditch as may be located within such
county, or in such relation to such county as
to affect lands therein within the terms Of
this act.
The word Expense" shall be construed to
mean and to cover every item of the cost OF
said ditch from its inception to its compile
ton. I: and all fees and expenses incurred in
pursuance thereof.
Such bonds shall pledge the full faith,
credit and resources of the county issuing
the same for the prompt payment Of the
payable at such time or times not to exceed
twenty years from their date and shall bear
such rate of interest not to exceed six per
centum per annum, payable annually or semi
annually as the county board shall by resolu-
ton determine.
Each bond shall contain a recital that it is
ance . with the provisions Of this act. and
shall. be signed by the Chairman Of said
ditor. who shall keep a record thereof.
Said county board shall have power to
negotiate said bonds as they shall deem for
the best interest Of said county but not for
less than their par value. The proceeds from
the sale of such bonds when received by the
county treasurer shall be paid to the the state sta t.
drainage fund, which is hereby created. Said
county board shall provide moneys for the
bonds as they severally mature, which moneys
shall. be placed in the general county ditch
fund; into which fund It may transfer any
revenue fund or other funds of the county,
which can properly be used for the purpose
Of this act, into which fund shall also be
paid all moneys received from the payment
Of any liens created under the provisions of
this TACT, ana such board Is hereby author
zee ,,a to S,e pay f,,ns said II drainage raj n aG,n 1ond tsea out s,'rv OF w Amy
the moneys on hand in the general ditch
fund Of the county are insufficient to meet
the payment Of bonds issued in ditch proceed:
from, which such moneys shall be taken OF
used for the payment of bonds as they ma
rate Of six per cent per annum from colleo-
lions. Of unpaid assessments for bitches,
drains or water courses constructed under any
proceedings had hereunder.
Whenever heretofore there shall have been
filed with and recorded by. the Register OF
Deeds of any county in this state a state
state or judicial ditch. as provided by Sec
ton Is Of this act. the county board Of such
sell the bonds of such county to the amount,
Tor the purposes and in the manner hereinbe;
fore Specified, and any bonds so issued shall
are in all respects legalized and made bind
ing and valid obligations of the county issu.
ing the same and according to their terms"
Sec. Q. This act shall take effect and
be in force from and after its passage.
Approved January p, 1913.