Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1913-08-29

LITTLE FALLS HERAI
taxation. There shall be paid into this
fund moneys received on special as
sessments heretofore or hereafter levied
by the city for local improvements and al,
authorized to be sold and the interest
on cash balance remaining in said fund
from time to time. Except a. as IN this Ms
may by resolution, determine the
for local improvements which in its
W os fs
charter, but in no case shall such aggre-
gate amount exceed seventy-five per
cent (75 per cent? of the total estimated
issuance and sale of extended assess
ment certificates representing such.
aggregate sum, which shall entitie the
from the city of Little Falls upon the
surrender of such certificate to the
treasurer on or after the date of pay
ment thereof, the amount 10. Of IN money .nts
of interest stipulated to be paid thereon
such date. Such cer1ificaaes~ may be
issued in such amounts and become due
on such dates as the council may de-
termine, but none of them shall be
payable more than twenty (20 years years
of the sale of said certificates shall be
paid into the permanent improvement
revolving fund Said certificates shall
bear rate OF anf NOT
council may, in its discretion, either sell
said certificates direct to investors, or
may. contract for the sale Of all such
any calendar year. No sale of such
certificates, by contract. shall be made
except after advertising for bids, at
flea! newspaper of the city. and such
sales shall be made to the highest re-
sponsible bidder. Bids may be asked on
the basis Of a rate of interest specified
basis on which the bidder will pay par
for tn: same. .. .,+-... p
There shall be levied each year by gen
eral taxation for fund numbered two an
amount: at least, equal to one mill on
the dollar of the assessed valuation of
all taxable real property in said city.
issue bonds or certificates Of indebted
ness by ordinance as follows:
/. TO pay. fund or refund any debts
OF the city.
prove and maintain public utility plants.
Such bonds or certificates of indebeted-
ness so issued shall be a specific lien up
authorizing the issuance of said bonds or
certificates of indebtedness.
8. In an amount not exceeding twenty
fit of the permanent Improvement re-
vOlving fund.
Sec. g. 1t is hereby made the duty of
the county treasurer of Morrison coun n
ty, Minnesota, to keep his accounts so
as to show at all times the amount Of
money received for the city in the col
lection of taxes and special assessments
tive Years s for Which they were levied and
the respective portions thereof. which
are for interest and penalties, and
specifying all such assessments by roll
OF contract numbers, as the same are
certified to the county auditor by the
city Manager. 1t is hereby made the
duty of the county auditor. of Morrison
the county treasurer in favor of the city
treasurer for all money in the county
treasury for taxes belonging to the city
and another warrant for AL money col
belonging to the city. and upon presen-
tation of the same to the county treas
urer of Morrison county, he shall pay
the same respectively out of the moneys
received by him for the city for taxes
and for special assessments respectively.
Said county auditor shall at the same
time transmit to the city council
statement showing the separate amounts
local improvement. No county official
shall have any authority or power to re-
Tund. feOuce Ut dOdte any @Poei"A 90
Sec Ss: Whenever the expense and
obligations incurred: chargeable to any
year. ARE are sufficient i in the aggregate to
absorb eighty per cent $50 per cent? OF
the entire. amount embraced in the tax
levy for that year, together with eighty
estimated. in the aDportionnnent OF the
current year to be received by said fund
from other sources .oi INCLUDING e such 9e6
fund from the levy cf any prior
or official body of the city shall
ist to o'e create e any additional Indebted
ness (save as the remaining twenty per
cent go per cent? of said tax levy is COL
lected. which shall be charge against
in any manner valid claim against the
city. but said additional Indebtedness at
tempted to be created shall he per-
members of the municipal board or body
voting for or to create the same.
Sec g. Or or before the 18th de day s,s Of
M tb OF eae the % of
the division of finance detailed estimate
in writing of the amount of money which
in their opinions will be required for the
spective divisions during the next en-
suing fiscal year. On or before the first
day of October in each year: the commits
!
shall submit to the council an estimate
of the probable expenditures of the city
government for the next ensuing fiscal
year, stating the amount required to
meet the interest and maturing bonds of
the outstanding indebt edness of the CITY.
and showing specifically the amounts
necessary to be provided for each fund
and each department.; also an estimate
of the amount of income from all other
sources of revenue exclusive of taxes
upon property. and the probable amount
REQUIRED to be levied and raised by
liabilities of the city. The city council
shall thereupon determine the sum to be
raised by taxation and make appropria-
tions in detail for the next ensuing
fiscal year. The council shall not later
than October 10th. transmit. to the cOun-
ty auditor of Morrison county, a state
ment of the amounts so to be raised by
taxation, and the county auditor shall
thereupon raise the same by tax levy as
by law provides. .
Sec. 6. At any time after the annual
tax levy has been certified to the au-
ditor and not earlier than October 10th
in any year, the council may by or
dinance, first directing the same, issue
and sell. certificates of Indebtedness in
anticipation of the collection of the tax
es SO levied as aforesaid, for any special
fund named in said. tax estimate, for. the