The Ely miner., 1916-02-25

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accordance and full compliance with
the General Laws of the State Of
Minnesota, and the Charter of said
City, especially Section I, of Chapter
Z, of said Charter of said City, and
resolutions duly and regularly adopt
ed by the City Council of said City on
the 18th day of September, 1915 and
the 2lst day of February 1916, respec-
lively.
The City of Ely may at Its option,
at any time five years after January
lst, 1916, by giving thirty days notice,
on any date at which interest is pay
able, pay the principal together with
the interest that shall have accrued
on such date, on any one or more of
said bonds. and retire the same, and
all such bonds so paid shall be return
ed to the City for cancellation.
And it is hereby certified, recited
and declared that said bonds were
authorized by majority of the legal
voters present and voting at special
election duly and regularly held on
the 18th day of October, 1915 of which
due notice was given as to time, place
and object of the election; that all
acts. conditions and things required
TO be done precedent to and in the
issuing of said bonds have been pro-
perly done have happened and have
peen performed. in regular and due
form. as required by law. aud that
said bonds and the Indebtedness
evidenced thereby do not exceed any
Charter, statutory or constitutional
limitation.
In Testimony Whereof, We the
undersigned officers of the City of Ely
in St. Louis County, Minnesota, being
duly authorized to execute this
obligation on behalf Of said City, have
signed this bond officially, and sealed
same with the seal of said City. as of
the lst day of January, A. D. 1916.
JOHN A. HARRI,
Attest, Mayor.
ARTHUR KNUTsON,
City Clerk.
INTEREST COUPON
No. $500
On July, l, 1916, the City Of Ely,
In st. Louis County, Minnesota, will
pay the bearer Twenty-Five Dollars,
lawful money of the United States Of
America, at the Continental & Com
mercial National Bank in the City Of
Chicago. State of Illinois, being six
months interest then due on its Elec-
trio Light and Water Works Bond
dated January l. 1916, No ---
ARTHUR KNUTSoN,
City Clerk,
Said bonds shall be signed by the
Mayor, sealed with the seal of the
City, and attested by the City Clerk,
and a fac-simile of the signature Of
said City Clerk shall be printed or
Autographed on the interest coupons
attached to said bonds.
Be it further resolved that the
Mayor and City Clerk be and they are
hereby authorized and directed to
execute said bonds and when executed
to deliver same to Sidney, Splitter &
company of Toledo, Ohio, on receipt
of the proceeds pursuant to the offer
heretofore submitted by said purchas-
er and accepted by the City Council,
said offer being for not less than par
and accrued interest.
BE 1T FURTHER RESOLVED
that for the purpose of paying the
interest on said bonds as it accrues
and to provide sinking fund for the
final redemption of said bonds at
maturity, there be levied and collect
ed annually tax in sufficient amount
on all taxable property in said City.
Adopted February 2lst, 1915.
JOHN A. HARRI,
Attest, Mayor.
ARTHUR KNUTSoN,
City Clerk.
The President of the meeting after
stating the question before the coun-
Gil, and the same being called for
to be voted upon after due considera-
tion, those who voted yes, in favor
the adoption of the resolution were
Aldermen White, Somero. Gasperlin,
Knutson and BuccOwich. Those
voting no, none.
The motion to adopt the resolution
was declared carried. The minutes
of the meeting having been read it
was moved and carried that they be
approved as read.
On motion made and seconded
meeting adjourned.
ARTHUR KNUTSON,