St. Paul tidende. [volume] (St. Paul, Minn.) 1902-1928, 1913-05-02
CHAPTER s-s. F. No. 1902.

AN AL u leSdllZe anu Ulllll1 Tue aCIS
proceedings Of any city of the State Of
Minnesota, however organized, in reference
to the purchase Of any electric light and
water plant. already in existence in such
bonds in payment therefor, and to authorize
heretofore Instituted for the purchase Of such
plant and for the issuance and sale Of such
bonds and to legalize such bonds when so
Pc 1t enacted by the Legislature Of the State
Of Minnesota:
ell Of any city in the State Of Minnesota. how
ever organized, shall have heretofore submitted
to the voters of such city; at a general or
proceeding to acquire by condemnation or pur-
chase any electric light and water plant then
and its Inhabitants with light and water, pro-
vtded such plant could be acquired at a rea-
s sSesO .led pilas' sh snd have 3aS v aeeideS Of p su9 mof city fba at
a two-thirds majority in favor Of such propo-
sition; and such city council Of any such city
CT any such plant upon the amount Of the pur-
chase price thereof. by negotiation or otherwise:
thereafter submitted to the voters Of such city
at a general or special election the proposition
q issuing the bonds OF such city to an amount
for the purpose Of paying in part for such cleo
trio light and water plant. ana the voters Of
by more than q two-thirds majority In favor
of the issuance Of such bonds: the actions TAX
en- by the city council Of such city and any Of
elections and the determination Of such pur-
chase price; such elections and the results
by said city council and other city officials
such electric light and water plant and to the
Issuance of such bonds to pay part Of the
R Paliaed a n5lce confirmed 5a i = a as b la al! hsSasSt' an. nd
binding acts Of such city and the people there
and effect as though all the acts and pro-
. ceedings which have been so taken had been
pcning Of any such acts and proceedings; pro.
suit now pending involving the legality Of
such bonds. acts and proceedings.
Sec. 2. Whenever in any such case the
voters Of any such city at any such election
,hall have heretofore declared in favor of is
above set forth. such city and the city council
thereof IS hereby authorized and empowered,
members of such city council. to issue the
bonds Of said city in an amount to be de-
+crmined by said city council. not exceeding
said election. and said city council may dis
pose of the same as hereinafter provided. and
may use the same and the proceeds thereof for
not otherwise.
Sec. 3. Such bonds shall be of such de-
nomination. as the city council may determine
and shall be payable. at such place and at
such times. not less than ten no) nor more
the city council may determines: they shall be
made payable to bearer, or to the order Of the
person oH corporation to whom they may be de-
livcred. as such city may deem best, and shall
draw Interest payable semi-annually. at such
rate not exceeding five per cent % per an;
to said bonds. Said bonds and coupons shall
he signed by the mayor and attested by the
corporate seal OF the city shall be imprinted
upon said bonds.
Sec. 4. Tho city council of any such city
shall have authority by a majority vote of all
its members TO dispose of such bonds in such
manner as In the judgment of said city coun-
c! shall hest s'ibscrve the interest of the city:
but it t, shall not n%esotiate the sale, dispose Of.
than their par value and accrued interest, and
neither said bonds nor the proceeds Of the sale
thereof shall be used for any other purpose
than that authorized by the vote of the peo-
pie, and such purpose shall be distinctly stated
IN said resolution Of said council authorizing
the issuance thereof.
Sec. g.. The principal! and interest Of any
euch bends 50 issued is hereby declared to be
q first Tier upon any such electric light and
water plant. and the faith and credit Of such
CITY issuing the same is hereby irrcvocably
pledged to the payment thereof; any pro-
vision Of the laws OF this state. or of any
charter Of any such city framed and adopted
under Section SO Of Article 4 Of tho State