Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1920-03-26

passed BY. two- thirds <2-3) vote Of ali
the members thereof issue and sell from
Gates Of Indebtedness in anticipation Of
aforesaid Tor any special fund named
sing fes such
but no power shall exist to issue certi-
ficates for any of said separate funds
ty cent $50 e. Of the
be- collected for the use and benefit of
said fund. and no certificates shall be
issued to become due and payable later
ing the year in which Said tax estimate
certified to the. auditor as aforesaid was
made. Said certificates shall not be
ter e 1 ana es shall mot Bear greater rate
annum. Which Certificates shall state
upon their face for which of said sep
Gates shall be Used and the Whole
amount embraced in said tax estimate
for that particular purpose. The pro.
as Aforesaid on account Of said fund
irrevocably pledged for the redemption
of s tse Sc 81 81 EsSGa
la The Mayor. the City Clerk and the
President of the City Council shall con;
stitute the Board of Equalization and
and shall meet in the City Hall on the
fourth Monday of June in each year and
shall continue in session not later than
the snd o%aHe in July to
made by the City Assessor pursuant to
the general laws Of this state.
(b). Said board shall elect a Secre-
<nHr yk<% ~tNrA vyn r>E NrN-
ceedings and it is hereby vested with
all powers which are or may be vested
in County Boards of Equalization under
not be restricted by any limitations in
respect to reducing the aggregate sums
of real and personal property as re-
tc}. Any person aggrieved by an as
sessment shall have the right to appear
before such board in person or by at
torney and present such grievance for
(d). The City Assessor shall he pres
to present all facts relating to the as
and REVISE his fbe
sion of said board and after the same
shall have been certified by the secre-
tary of said Board shall transmit to the
ment rolls not later than the second
Monday in July of each year, and Unless
otherwise provided the assessor shall
proceed under the general laws Of the
state.
(e). ANY person who deems himself
aggrieVed by any assessment may lay
the matter before the City Clerk whose
connected with such assessment before
the next assessment is made. and If he
finds the grievance to be true he shall
may be necessary in q book to be kept
for that purpose and make entry of
such changes in the next assessment
GSf rns or the e1re ter
seq e. IN RrG FTNb eo9esteq.
order. to provide for the payment Of the
Council shall maintain Sinking fund
and for that purpose shall levy upon all
the taxable property of the City such
IS IS be a to th
fiscal year. upon ali bonds. certificates
Of indebtedness or. other indebtedness
Of said City heretofore or hereafter
tax of one mill on the dollar Of the as
sessed valuation of all such taxable
property for the principal of said bonds
debtedness when the same shall become
due.
The Mayor. the President Of the City
an@ CT se c y ss
shall constitute and BE known as "the
the City of Little Falls" and: such Com
troll Of such sinking fund. Any two of
said officers above named are hereby
authorized and required to discharge the
provisions of this Section. but shall not
be entitled to receive any additional
salary or compensation for such SER
(b). Such Commissioners shall, from
time to time invest the money which
snail constitute the Sinking Fund for
the redemption of the city debt or any
interest fund or as much thereof as
they can in the purchase Of bonds is
sued by said City or bonds issued by
ket valve thereof, or in the bonds Of the
State of Minnesota or in United States
bonds. notwithstanding that the said
State or United States bonds may be
same in a designated depository as
hereinafter provided. Provided that
preference at all times be given to the
cations of the City if the same or can be
secured At reasonable rates. =.
s,1 ~; whenever x,,n i any part art, OF , SAID
4nd haze been
IN this act and such commissioners
shall at any time thereafter deem it for
the best interest of the said City to
invest the proceeds thereof f in 0 any e dee
scription of such bonds or cover such
proceeds into the City Treasury or de-
post the same as hereinafter provided
for. such Commissioners shall have
power to sell any such bonds at not less
than market value thereof and REIN
vest or deposit the proceeds thereof.
(d). In case bonds. certificates Of in
debtedness or other obligations Of the
and such commissioners shall deem
it advisable, part or all Of said Sinking
Fund may be deposited in one or more
designated National Banks. State Banks,
Savings Banks. or Private Banks in the
name of the City of Little Falls. Such
bank, banks. or bankers shall be desfg-
mated by the Council after advertising
in one or more newspapers published in
the City of Little Falls, for at least one
ID week for proposals. which proposals
shall state what security shall he given
to such City for such funds and what
Interest shall be paid on the amount so
deposited, said funds with the accrued
interest to be held subject to draft ard
payment from and after the time to be
designated by such Commissioners at
the time Of depositing said funds.
Before any National, State, Private or
Savings Bank or Banks or Banker shall
pc DESIGNATED as such depository, such
bank or banker shall deposit with the
CITY Clerk bond payable to the City
of Little Falls which bond shall be ap-
proved by the City Council and shall be
in such amount as said Council shall
direct, which amount shall be at least
double the amount of the funds to he