Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1920-04-16

raising S,t moneys s, fer such special funds.
@ @ per % ' cent eso Of 0f the
amount named in said tax estimate to
be collected for the use and benefit of
; said fund.- and no certificates shall be
than December 81 of the year succeed
ing the year in which said tax estimate
certified to the auditor as aforesaid was
sold for less than par and accrued in
terest and shall not bear a greater rate
of interest than six per cent Is p. c.) per
upon their face for which Of said sep
Gates shall Be used and the whole
o9 sfs tax fha pse
ceeds Of the tax assessed and collected
as aforesaid on account Of said fund
and the f fifth and credit Of the city ere
s ese 8oaK6 81 E@Ta11zAr1oN
IA? The Mayor. the City Clerk and the
stitute the Board Of Equalization and
shall be sworn according to law as such
and shail meet in the City Hall on the
s a1a co M9nday OF June in each year and
the second Monday in July to review.
made by the City Assessor pursuant to
(b). Said board shall elect a secre-
tary who shall keep a record of its pro-
ceedings and 1t is hereby vested with
81 aFf 9ua mas Rs vne4
the general laws Of this state. but shall
not be restricted by any limitations in
Of Pesl and
turned by the City Assessor.
(c). Any person aggrieved by an as
sessment shall have the right to appear
torney and present such grievance for
ld). The City Assessor shall he pres
to present ali facts relating 1 to the 1' asa
easements. and shall revise his assess
ment roll in accordance with the deci-
sion shs Of S.s said h board ana after the same
tary Of said Board shall transmit to the
ment rolls not later than the second
otherwise provided the assessor shall
proceed under the general laws Of the
. le2: Any person who deems himself
the matter before the City Clerk whose
duty it shall be to Investigate the facts
connected with such assessment before
fipds the grievance to be true he shall
Immediately make such correction az
m1 MAJ be necessary in q book t. be kept
such changes in the next asssssment
books or bring the matter before the
City Assessor or before the next Board
seq e. sfS f2s PF9RSS
order order to provide for the payment Of the
Cou1cil shall maintain q Sinking fund
the of the Stgg such eli
taxes as shall be sufficient to Day the
interest to become due during the next
or a o sSee'
OF said City heretofore or hereafter
issued or contracted and an additional
sax Of one mi on the dollar Of the e
property for the principal Of said bonds.
debtedness when the same shall become
The Mayor the President Of the City
nance committee of the. City Council
Of en the es si hRaw Fund ss es
the City of Little Falls" and such Com
missioners shall have charge and con-
trol OF such sinking fund. Any two OF
authorized and required to discharge the
trusts and duties vested in them by the
provisions Of this Section. but shall not
, salary orssscompensation for such SER
(b). Such Commissioners shall, from
shall Constitute the Sinking nenf Fund %'f fop
the redemption of the city debt or any
surplus Of interest to the credit Of the
interest te fund or as much thereof as
sued by said City or bonds issued by
Little Falls school district at the mar
Set valve thereof. or in the bonds Of the
bonds. notwithstanding that the said
State or United States bonds may be
a aa, par value thereof, and deposit the
an provgea
preference at all times be given to the
g ssn3pns Of the City if the same can be
81. Whenever any part of said
Sinking Fund shall have been invested
In any Of the several bonds mentioned
shall at any time thereafter deem e foe
the best interest Of the said City to
i Sei any h part to or aii Of such bonds and
scription Of such bonds or cover such
proceeds into the city Treasury or de-
post the same as hereinafter provided
n Tor: such Commissioners shall have
than market value thereof and REIN
vest 9, or deposit the proceeds thereof:
eity can not be parchased at rar % value fae
and such Commissioners shall deem
It advisable, part or all Of said Sinking
designatea Satienal Banks Sta seats u Ban iae
Savings Banks. or Private Banks in the
name Of the City of Little Falls. Such
bank, banks, or bankers shall be desig-
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 50
deposited, said funds with the accrued
interest to be held subject to draft and
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
be designated as such depository, such
bank or banker shall deposit with the
City Clerk a 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 be
deposited with such bank or banker.
'(e). Whenever any of the moneys
constituting the sinking fund for the
redemption of the city debt shall be re-
qulred for any purchase. investment or
deposit or for the redemption of the
city bonds or certificates of indebted
ness at their maturity. the amount Of
money so required on such payment
shall be paid by the City Treasurer up
on the warrant Of such Commissioners
or two Of them, the Mayor being one:
the City Clerk shall attest said warrant
and affix the seal of the City thereto.
Sec g. JTIDC1MENTS AGAINST CITY