The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-05-22
OFFICIAL PROCEEDINGS OF THE
COUNTY BOARD OF BELTRAMI
COUNTY, MINNESOTA, MAY

H1SOSEEDANuS Ut AhH
COUNTY BOARD OF BELTRAMI
COUNTY, MINNESOTA, MAY
2, 1922
Board Of County Commissioners met
e Gskuh IN s Ss S% nus: Nay a"
Members present: Edward Paulson,
II. B. 1msdahl, J. F. Hayes and S. w.
Absent. VIM. Lennon.
were read and approved on motion or
ellis, seconded by Hayes and duly car
ried.
Bids for bonds were received as per
advertised notice at II o'clock a. m:
Bids were auctioned for the S54.sss.ls
,ticipating were the Minnesota Loan &
ind Savings Bank Of Minneapolis. The
best offer being made by the Lincoln
Trust 4 Savings Bank, which was as
May 2. 1922.
LINCOLN TRUST & SAYINGS BANK
BOND DEPARTMENT,
MINNEAPOLIS, MINI.
Hon: Board Of County Commissioners
Gentlemen:
For $54,9SS.1S legally issued and ex-
ecuted State Highway Reimbursement
bonds of Beltrami County. Mimi, de-
,ago, dated Jan. LIST, 1922, and to ma
ture serially as designated In the offic..
ial advertisement. Said bonds to be of
the denomination Of $1,000 bearing In In
annum, payable semi-annually, both
principal and interest payable at New
York. Chicago or Minneapolis at the
option of the purchaser.
est pay our own attorneys fees and
furnish blank bonds ready for sigma
ture. This office is subject to immediate
delivery of the bonds.
Prior to the delivery of the bonds
taken in the issuance Of the bonds, evil
fencing their legality to the satisfac-
ton of our attorneys. and to take any
our attorneys to make the bonds fully
tegal,with the understanding that these
bonds constitute direct and general
tax obligation.
We herewith hand you our certified
good faith in complying with the terms
ind conditions of this bid, which is to
apply as part payment OF said bonds
S when the legality of ttears sane has has
the event this bid is. not accepted.
We agree to pay for. the bonds as
,gree to deliver the legally issued bonds
to us at such place as we designate,
tree of exchange or collection charges,
IS above provided.
,>,, Rsspectfully submitted. >,z
LINCOLN rhY g. IS $ S 4: HSii: BANK
The above proposition is hereby ac-
:epted this End day Of May. 1922, for
State Reimbursement Bonds, County of
above bonds are this day sold to the
Lincoln Trust & Savings Bank as per
the terms and conditions of the above
offer.
Edward Paulson.
A. D. Johnson,
County Auditor.
Commissioner. Hayes offered the fol-
lowing Resolution and moved Its ad-
option:
aWhereas, on the 4tn Gay Of April:
authorized the Issuance of $54,9SS.1S
of Trunk Highway KelmL urse.Aen.
Bonds Of this County. said bonds to
bear interest at. the rate of, six per
Whereas. on the End day of May.
1922. the Lincoln Trust & Savings Bank
BID and to- parchase
bonds upon the condition that said
bonds. shall bear interest at the rate
Of 81 per cent per annum. interest
pay anu Olu
par for said bonds, SO drawing inter-
80 Now Therefore be it resolved that hat
fSa pr0f he BY Of s s
bonds be and the same is hereby chang.
ed and amended so that the rate Of
interest which said bonds shall bear
Be fsn oi d.
rate Of per cent per annum,
Resolution was Seconded by Com
missioner Ellis and duly carried
of the S eonny Sosrd sxfe9 BEL
trami County Minnesota. was held at
the court house. in the City Of Be.
midi, Minnesota, on the End day Of
Members present: Edward Paulson.
Hans B. Imsdahl, J. F. Hayes and S.
w. Ellis.
Ms%nsrs aeseH W caed If nr she
pose of receiving and considering bids
for the purchase of $54,9SS.1S: Trunk
Highway Reimbursement Bonds Of Bel,
upon the terms and conditions of a
4th day Of April, 1922
The following bids were received.
Minnesota Loan & Trust Co.. Mpls..
Lincoln Trust & Savings. Bank. Mpls.
Terms Of Bid
5hTe Par. $1,000 Premium
5A% Par. No Premium
Commissioner Hayes offered the fol-
lowing resolution and moved Its ad-
Whereas the bid of Lincoln Trust &
Savings Bank of Minneapolis. Minne-
sofa. bidder for the $54.988.18 Trunk
Highway Reimbursement Bonds Of
Retrsm County a Minnesota dated ted
terms of sale and is by this board
deemed most favorable.
Now Therefore,
Cd That the place Of payment of
tho principal and interest OF said
bonds Is hereby fixed as Lincoln Trust
& Savings Bank, Minneapolis, Mime
sofa.
(2) That the said bid Of said bidder
for said bonds. be and the same Is here
by accepted and said bonds awarded
Commissioner Ellis seconded the mo-
ton to- adopt said resolution and the
roll being called the same was adopt
ed by the following vote:
:, Ayes Edward Paulso9' Hans H s, =. ms
Nays: None.
Motion made and carried to take re-
cess until 2 p. m.
Board reconvened at = p. NJ. with
all members present, except Lennon.
Commissioner Hayes offered the fol-
lowing Resolution and moved its adj
option:
Whereas. a petition signed and duly
acknowledged by a majority of the
freeholdcrs who are entitled to vote at
school meetings In their respective dis
tricts. residing within the territory of
the proposed new school district ask
ing for the formation of a new school
district, which shall embrace the terri