Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1920-08-13
D0DNCS OF COUNCIL
BOND MARKET UNSATISFACTORY
SEWER PETTTIolgED FOR,
CASH PAYMENTS OFFERED

regular session Tuesday evening. Al
derman Hall was absent.
City Attorney Vernon was asked for
report OH their findings in regard to
sale of paving bonds. He stated that
several leading bonding companies Of
the twin cities offered to dispose of
100000 worth of bonds, for a commits
sion Of $1,000, providing the city coun-
Gil would accept the contract. This,
he said, could not be done, because of
the fact that the dividing Of the com
mission between agent and buyers is
unlawful. The city, he said, can en-
ploy an agent to sell the bonds, provid-
ed the agent can sell the bonds at par
and accrued interest.
Mr.. Vernon suggested several fcas~
lble plans for handling the situation.
One plan was to get al amendment to-
the city charter increasing the MAXIM
um interest limit on bond issues. An
local bank for handling the financing
temporarily and to get a bill through
the legislature. He also thought that
possibly some arrangement could be
made with Mr.. Leahy Of the General
Contracting Company. Other methods
were mentioned, but he said they were
not as good and perhaps not advisable.
A representative of a bonding COM
pany was present and he asked it the
city could issue per cent certificates
cff Indebtedness for this paving. Mr..
Vernon said that the bonding attorneys
would not approve these as general OBJ
legations on the city because they are
paid with the money received from de-
ferred assessments.
Mayor Bergheim stated that he ap-
preciated the gravity of the situation
and that the city must meet same, re-.
gardless of the price. He considered
the plan of getting the contractor to
take he bonds, he city to guarantee
him his full contract price for the
work, as the best.
Alderman Brown moved that the
same committee continue over and
that they confer with Mr.. Leahy in re-
gard to taking over the bonds. The
motion carried.
A bill posters license was granted to
the Harwha theatre.
A number of residents Of First street
southeast petitioned for a sewer from
Third to Fifth avenues, offering to pay
their assessments in cash. On motion
by Alderman Brown, the city engineer
was instructed to prepare plans, specir-
cations and an estimate for the COZ .
struction of 12-inch sewer. Mr. lyk-
ken, representing the engineering COM
pany, suggested leaving out the man
holes for the present and his suggestion
was included.
Carl Van Herckc appeared and asked
that street opening be provided from
his place. According to the city plat
there is a strip Of land at the railroad
tracks, through which Sixth avenue
northwest does not pass. Alderman
George Peterson moved that Sixth ave
nue. northwest be graded up, rot to e1'
ceed $3.50 to be spent. Some OF the al
derman opposed this. His motion was
| lost.
Mr.. Lykken of the Pillshury Com
pany, city engineers, suggested that
| the city pave First street southeast
from Second to Third avenue and that
it be made full width. He said the
curved line would spoil the looks Of the
street and that furthermore, this block
promises to be a business block Ind
then must be paved full widtn. II
paved narrower in the first place, II
would practically have to be repavee
in order to be widened. AS this block
will not be paved this year, nothing
was done about it.
City Clerk johnson reported thai
three property owners along the route
Of the paving are wiling to pay cash.
ro,ro:1 od;ourno1 IN An0 -