Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1913-05-09

loAseAA Luz 49,
Lee a,sainling fund 8for the rsdsmption. g any
IexisttnE bonds. or Tor the purchase ana nc.
ssia s Il .ny ne 9 saad s'ty oHs'sa
porate in any srsn IT. q the hight Is construct
y axe
before the expiration Of such grant upon such
the grant: It shall also be lawful to provide
| In any such grant. that In case such reserved
s SAX e
such public utility in the streets ana part.
81 streets occupied by its srsntse 1ader the
the former srantee. upon the term. TINT TIE
be Lawful fof the city council 81 any city
to make the grant containing such 2 reserve.
e
public streets, alleys .or ways therein. OF
Is already located at the time Of making. sucn
grant. without the petition or consent Of any
Ing upon many" any street. pubic alley or way. Of
portion thereof. covered by such grant.
| No ordinance authorizing. the lease Of any
until the expiration Of sixty days from and and
ed ana With ths Clerk % such
/ city petition signed by ten per cent of the
voters voting q the last preceding election
ordinance be submitted to + a popular & vote,
then such ordinance shall not 60 into effect
ordinance shall first be submitted to the elect
| ors Of such city ana are approved by ma
'os1ty q those voting thereon a,,.,o, 49, 10.
ali be appended TO one paper. but each signer
giving the street and number: One OF ths
before m officer comnefent to administer
1
pended is the siRnature Of the person whose
mama -purports to be thereto subscribed. The
vote Sc IS an
to acquire or construct any public utility,
shall have the power unless otherwise pro;
regulations respecting the operation OF the
same. including the power to fix and prescribe
and nups n e1sss Of
Act, or for the equipment Of any such public
aaa Provided for in 'a Section
any city may borrow money and issue lts
te Go an
faith and credit OF the City therefor; but NJ
such bonds shall be issued until the question
shall have been approved by . majority Of
tie electors voting d tS rs TOR
ifths vote Of the City Council Or other WOW
erning body. In the exercise OF the powers.
or any Of them. granted by this act. any such 5
hold any and all franchise or franchises. and
necessary property, real. personal or mixed.
p 'ae or in the
provldeQ py law ZOE the taAinS ana cona 'a =:
ing Of private property Tor public use. put IN IN
no valuation OF public utility property for the
purpose OF any such acQuisition. except OF OF
such public utilities now operating under such
as the value. Of any. earning power Of such
utility: or OF the unexpireo Dofuoa OF any
i. Tn, Of fhn Ian a. hv nv nj
public utility owned by It, the rental reserved
shall be based on both the actual value Of
Contained in such lease, and such rental shall
not be less than a sufficient sum to meet the
Interest iaS an
of any such public utility.
Sec. 8. In addition to the bonds pledgtng
FOR IN Section Of this Act. any city may
issue and dispose Of interest bearing certih-
Gates which shan be lien or charge aEstnst
sha BET payable ont Of ths
b: but an Sy
ssq city ss s out Of 5s
deemed n part OF the Indebtedness Of said
city for any purpose; such eertidcates: to;
20 in
Sefors 70 ptoy,ded and ten Der centum Of such
cost in addition thereto. In order to secure
the payment q such public utility certificates,
bv way Of mortgage. or deed OF trust any o,
! ali OF the property thus acquired or to be &C
or Ssed Of trust snail be executed in
s,1ch a manner as directed by the city coaln-
and and q, recorded fSs in The
ment and recording Of mortgages Of real e.
tate. tate and may contain such conditions and
this :; x, may be = IL.
a. tr,,:t maV carry To rant Of nriviIese or
right to maintain and operate the property
covered thereby. for a period not exceeding
sucn property atnn ~. snif ~ tore.
closure wS Which tb right
nora ton securinR the came as q result Of the
foreclosure proceedings shall be entitled to
a period not exceeding twenty years. When
ever. and as often a default shall be made
the o. such .sud
when defsut
aftes notice has
/ to the mayor and financial officer Of the city
any such or os
request Of the holder or holders Of 4 ma
jority in amount OF the certificates issued
Of trust. to declare the whoee Of the principal
| of all such certificates as may be- outstand-
Ing. to be At ENC once due .s and payable and te
Of trust in any court Of competent jurtsdiction.
At foreclosure SAFE. the mortgage or the
Of such may the
privileges eolo. II nc OF tney De the hlenest
bidders Any public utility, utility acquired under
,atep BY the corporate authorities Of the city
the same extent md ~ the cht to con-
had been acauired throueh direct rant