The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1913-05-02
CHAPTER IS. F. No, lO2,

proceedings OF any city of the State Of
Se rorrssc Of any sh
water plant already in existence In such
City and in reference to the issuance Of
bonds in payment therefor. and to authorize
any such city to complete any proceedings
heretofore instituted for the purchase Of such
plant and for the Issuance and sale Of such
bonds. and to legaze such bonds when So
issued.
Re 1t enacted by the Legislature Of the State
section i: In all cases where the city eoun-
eli of any cit, In the state OF Minnesota. how;
TO the voters Of such city, at a general or
special election. the proposition Of such city
chase any electric light and water plant then
in existence in such city and supply such city
and its inhabitants with light and water. pro-
such election shall have decided by more than
sttion; and such city council Of any such city
shall have thereafter agreed with the owner
chase price thereof, by negotiation or otherwise;
aud such city council Of such city shall have
thereafter submitted to the voters Of such city
at general or special election the proposition
6: issuing the bonds Of such city to amount
not exceeding such agreed upon purchase price,
trio lisht and water plant. and the voters Of
such city at such election shall have decided
the Of such nonds th actions m aR
on by the city council Of such city and any Of
the city officials thereof in reference to such
elections and the determination Of such pur
y chase price, such elections and the results
thereof. and any actions subsequent to such
by said city council and other city officials
Of such city In reference to the purchase Of
issuance of such bonds to pay part of the
purchase price thereof; are IN all respects e-
Eazed and confirmed rn d., as being lawful and
Of to the same extent and with the same force
and effect as, though, all the acts and pro-
ktot,n 5n0v, tolS hMl
expressly authorized by law prior to. the hap.
rening Of any, such acts and proceedings pro-
suit now pending involving the legality Of
such bonds, acts and proceedings.
Sec, :: Whenever in any such case the
shall have heretofore declared in favor of is
suing the bonds of any such city as herein
thereof is hereby authorized and empowered
by an affirmative vote Of three-fourths Of the
members Of such city council. to issue the
termined by said city city council council not exceeding
said election. and said city council may dis
pose of the same as hereinafter provided, and
may the same and the proceeds thereof for
not otherwise.
Sec. s. Such bonds shall be of such de-
nT ss as % snd af
such times. 1 not less than ten 40, nor more
thc city council may determine: they shall be
n"rson ~ corporate ton to pm they may be de.
',aw interest payable SEMI annually, at such
place as the city council may determine. at
rate rot exceeding Ave per cent '5> per an:
IA sail bonds. Said bonds and coupons shall
b" signed by the mayor and attested by the
clork rr similar otfcer. OF such city. and the
; corporate seal Of the city shall be imprinted
urnn said bonds.
SEQ. l.. The city council of any such city
shall haze 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-
oil shall best subserve theinterest Of the city,
but it shall not negotiate the sale. dispose Of
nor sell said bonds nor any OF them. at less
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-
Pile. and such purpose shall be distinctly stated
~ said resolution Of said council authorizing
the ISSUANCE thereof. -.
Sec. >. The principal and interest OF any
such bends SO issued is hereby declared to be
first Her upon any such electric light and
water plant. and the faith and credit of such
CITY issuing the is hereby irrcvocaby
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 the State