The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1922-08-10

bid is the sum of par and accrued
| interest at per cent per annum to
date Of delivery of bonds plus $1,000
premium is the highest bid receiv-
ed for said bonds and is deemed to
be for the best interests of said
City, and is hereby accepted, and
the officers of said City are hereby
required and directed to deliver
said bonds, when duly executed, to
said purchaser thereof, upon pay
ment into the Treasury of said City
of the purchase price thereof, the
same being not less than par and
accrued interest, and the purchaser
shall not be obliged to see to the
application of the proceeds thereof.
Alderman c.. E. Bohall, then offer
ed the following Resolution and duly
moved it's adoption:
Resolution fixing the rate of interest
on $4,000 Electric Light and Pow
er Bonds.
WHEREAS, By Chapter 149 of Or
dinances of the City of Sank Cen
tire Stearns County, Minnesota, $10,-
600 in Bonds Of said City were or
dered sold for the purpose of inn
proving the electric light and pow
er plant and system Of said City,
by installing a new and efficient
street lighting system to light the
public streets and places thereof,
and which bonds were authorized
by resolution of the City Council
of the City of Sank Centre, Stearns
County, Minnesota, duly and regu-
larry adopted at meeting held on
i, January 18th, 1922 pursuant to a
I. request of the Water Light and
Power Commission of said City,
and the issuance of which bonds
was also authorized at q special
election duly called and held in said
City of Sank Centre on February
10th, 1922, and
WHEREAS, said Ordinance and
said resolution provide that the rate
of interest to be paid on said
bonds shall be determined at the
time of sale thereof.
NOW THEREFORE,, Be 1t Re-
solved that the rate Of interest
which said $4,000 Electric Light
: and Power Bonds shall bear, and
Z which shall be paid thereon, is
hereby fixed and determined to be
the rate Of five per cent per an
num-.
Alderman A. L. Blk, seconded the
motion for the adoptionsof said reso-
luton, and the following vote there
on was taken and recorded:
Those voting in the affirmative:
Alderman, John A. Brown, c. R.
Gray, II. G. Rydholm, A. L. Blk
and c.. E. Bohall. - -,
Those voting in the negative:
None.
C..E.?: Bohall offered the following
resolution, in writing and moved it's
adoption: " ss 81.
Resolution providing a Sinking
Fund and Levying tax for the pay
ment of the Principal and interest of
$4,000 Electric Light and Power
Bond. 4
WHEREAS, by Chapter Number 149
of the Ordinances Of the said City
of Sank Centre, $4,000 in bonds
of said city were ordered sold for
the purpose Of improving the cleo
trio light and power plant and sys-
tenn Of said City, by installing a
new and efficient street lighting
system to light the public streets
and places thereof, and which
bonds were authorized by reso-
luton of the City Council of the
City of Sank Centre, Stearns Coun-
ty, Minnesota, duly and regularly
adopted at a meeting held on jan
uary. 14th,s 1922 pursuant to a re-
quest of the Water Light and Pow
er Commission of said City, and the
issuance of which bonds was also
authorized at a special election
duly. called and held in said City Of
Sank Ceatre on February 10th 1922,
and
WHEREAS, said ordinance provides
i that at the time of sale Of said
bonds action be levied by resolution
of City Council, to provide for the
payment of principal and interest
Z thereof.
NOW THEREFORE, Be it Resolved
by the City Council Of City of Sank
Centre, Stearns County, Mime
sofa that the full faith and credit
Of said City be and is hereby
pledged for the payment Of said
bonds and the interest thereon as
the same shall become due.
BE 1T FURTHER RESOLVED, That
there be and is hereby levied upon
all the taxable property in said
City, in addition to all other city
taxes, direct annual tax sufficient
to pay the interest Of said bonds
when due, and to provide Sinking
Fund for the payment of principal