The Redwood gazette., 1917-03-28

Redwood County's part Of said system.
Be 1t Further Resolved, That pro-
viding federal aid is granted. in accor-
dance with the above application, by
the Highway commission, the county
board does hereby agree to construct
said project as gravel surfaced road
according to the requirements of the
State Highway Commission, and the
Secretary of Agriculture, the estimat-
ed cost of said improvement being
$40, 400. 90 and to that end do hereby
appropriate the sum of $35, 400 90 from
the County and State road and Bridge
funds to meet a part of the expense OF
said construction.
It is desired that the above applica-
tion be considered as a substitute for
and in the place of an application
dated September 16, 1916, covering
only part of the project as described
above.
Commissioner John Arends offered
the following Preamble and Resolu
tions, and moved their adoption:
BOND RESOLUTIONS
Whereas, the County Board of this
County of Redwood, in the State of
Minnesota. has heretofore under and
pursuant to the provisions of the Gen.
eral Laws of the State of Minnesota
applicable thereto, duly located and
established those certain County Drain
age bitches located within this county,
known as County Ditch No. 26 and
County Ditch No. %. and such proceed
ings have been legally taken that this
County Board is fully and legally auth
orized to issue and deliver the negoti-
able coupon bonds of this County for
the purpose of defraying the expense
incurred and to be incurred in locating,
constructing and establishing such
County bitches, which lie wholly with
in this county of Redwood; and
Whereas this County Board has here
tofore legally determined and does here
by determine that it is necessary to
issue and deliver for the purpose of de-
fraying such expense incurred and to be
incurred in locating, constructing and
establishing said County Drainage
Ditch No. 26. the negotiable coupor
bonds of this county of Redwood in the
amount of Sixty Thousand Dollars
$3.50, ,0OO) and for said County Drainage
Ditch No. g., the negotiable coupon
bonds of this County of Redwood in the
amount of Forty-eight Thousand Dol
lars ($48, 900. 00) being the aggregate
amount of One Hundred Eight ThOus-
and Dollars ($108, 0O00O) said bonds to
be one one hundred eight 108) in num-
ber, numbered from to 1O8, both in
elusive, each of the denomination of
One Thousand Dollars ($1, ,000.00) and
to bear date the first day of March
1917. all bearing interest at the rate of
Four and One-Quarter per cent, az
per annum, payable semi annually on
the first day of January and July OF
each year, except that the first coupon
shall be for but four az months, and
due July 1st 1917, both principal and in
terest payable at the Banking House
Of the Northwestern National Bank of
Minneapolis, in Minneapolis, Minneso-
ia;
Said bonds for said County Ditch No.
26, being bonds numbered l to 60, both
inclusive, to be due and payable. four
az therefore being bonds numbered l
to A, inclusive, on the first day of July,
1923, and like number in theil numer-
lcal order, on the first day of July of
each of the following years, to and in
cluding July 1st, 1887.
Said bonds for said County Ditch No.
%, being bonds numbered 81 to 108, in
elusive, to be due and payable, three
81 thereof. being bonds numbered 81 to
63, inclusive, on the first day of July
1923, and like numf eY, in their nu-
merical order. ON the first day of July
of each of the following years, to and
including July 1st, 1884; and four (4)
thereof, being bonds numbered 81 to
100, incluuive, due and payable on the
first day oe July. 1885, and like num-
her, in their numerical order, on the
first day of July of each of the years
1886 and 1887; and
Whereas said bonds have been duly
negotiated and sold, Now, Therefore,
Be 1t
Resolved by the County Board Of tn 8
County of Redwood, in the State OF
Minnesota. that said negotiable coupon
drainage Ditch Bonds of the numbers
and denominations and payable as afore-
said, be executed, issued and delivered
for the purposes aforesaid, and that
they shall be substantially in the fol-
lowing form, with the necessary varia-
tions as to numbers and maturities
thereof, and the number of the ditch
for which the same are issued. which
for is hereby approved and adopted:
Form of Bond)
United States of America
State Of Minnesota
County of Redwood
$1,000. 90
County Ditch Bond
Know all men bu these presents.
That the County of Redwood, in the
State of Minnesota, for value received
acknowledges itself to owe, and hereby
promises to pay bearer the sum Of
ONE THOUSAND DOLLARS
on the first day of July, 10. ....., to-
gether with interest on said sum from
the date hsreof until paid. at the rate