Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1913-05-09
Constitution e the contrary 4 Of any part q
this act notwtthstanding &. Egfss l
Approved January 90, 1918. 81 S #s4s sI 81
CHAPTER IS, d =. No. &C. 4

AZ;
g Chapter 40. Laws 1907. relating 10
county bonds Tor state Or judictaI bitches,
, ana d1esaiizing such bonds which may ns
Be u 4 enacted BY the Legislature OF the
,os Section III. Section % CHAPTER 40 LAWS
4 81 Section 49, The County Board in each ana
every county In this state wherein any such
paf :
shall issue the bonds of their, respective coun-
ties in an, amount mot greater than the as
sessments against lands in such county as
evidenced by the. statement provided Tor by
Sections IA and 10 Of this act, to dcfray the
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 4tt. ~ by e il+ eFS.5. g$ IS. ia.
The word expense shall be construed to
mean and to cover every item Of the cost OF
ton, and all fees and expenses incurred in
pursuance thereof 4. !. w 4ys . Il. " .s.3
Such bonds: shall pledge the full faith,
credit and resources Of the county issuing
the same for the prompt payment of the
principal and interest thereof, and shall be
payable at such time or times not to exceed
twenty years from their date and shall bear
such rate OF interest mot to exceed six per
centrum per annu1n, payable annually or semi
annually as the county board shall by rcsolu-
ton determine. % !5j 50 a5E fSi4
Each bond shall contain a recital that 1t Is
issued by authority Of and in strict accord,
ance with the provisions Of this act. ard
shall. be signed !. by the Chairman Of said
board and @countersigned by the county AL
ditor. who shall keep record Thereof: :.
negotiate said bonds AZ they shall deem Tor
the best interest OF said county but not Tor
less than theirpar value The process - from ON
county treasurer shall, be paid to the state
treasurer. and by him credited to the state 81
drainage fund, which Is hereby created. Said
payment Of the principal and interest," OF Sale
bonds as they sererally mature. which moneys
fund fund into Which fund t may transfer any
surplus moneys, remaining in the general
revenue fund or other funds Of the county,
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 act and such board Is hereby author
lied to pay said drainage bonds out OF any
available funds in the county treasury when
the moneys on hand in the general ditch
fund Of the county are insufficient to meet
the payment Of bonds issued in ditch proceed;
ings when the same mature. but the fund
used for the payment Of bonds as they ma n,
ture shall be replenished with interest at the
rate of six per cent per annum from ,coilec-
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 state
ment in connection with the construction OF q
state or judicial ditch, as provided by Sec.
tion Is of this act the county board Of such
county is authorized to issue, negotiate and
sell the bonds of such county to the amount,
for the purposes and In the manner hereinbe,
fore specified, and any bonds so Issued shall
be subject to all the provisions hereof, and
are in all respects legalized and made bind
ing and valid obligat lions Of the county tssu.
ing the same and according to their terms J,
Sec. 9 This act shall take erect and
be in force from and after ITS passage.
Approved January %, 1913. =. -.