The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-10-16
onDruANcE no. 12s

for the issuance and sale of Fift.
thousand tS5O,000) dollars Permanent
Improvement Fund Bonds Of said city.
for the purpose and on account of the
Permanent Improvement Fund of said
city: Forty Thousand ($40,0O0) dollars
of the money obtained fromh the sale
OF said bonds to be used for the specific
purpose Of paying warrants now out
standing against said fund and which,
were ISSUED in payment for the install
lation tof ''The White Way" electric
lighting system in the streets OF sald
city; and Ten Thousand (S10,000l dol
LAYS of, said money to be used Tor the
specific purpose of paying WARRANTS
which have been. or which will be. is
sized in payment for the, construction
and. equipment of a detention hospltai
In. said city; prescribing the form OF
said bonds and the interest coupons to
the levy. assessment. and collection OK
a direct annual sad .valoren tax on all
the taxable property OF said city sur
ficient to pay the interest accrulng up
on said bonds as the same becomes
due and also at the lawful time. Il fur,
the. annual ad valorem tax on said
taxable property sufficient to pay and
DISCHARGE the principal OF said bonds
at the maturity thereof:
WHEREAS, there exists in the city
Treeasurery Of the City OF BemloJi'
fund, designated as "Permanent I'm,
nrovement Fund" into which there shall
he Maid all amount realized from tne
sale. Of bonds issued on account or thiS
fund and out of which fund there shali
he paid the cost Of all real property,
which the city may own or acquire lo'
its various purposes; ana
WHERE'S, warrants have been drawn
m said fund whcih, together with me
interest to: accrue thereon, Will llitou!,.
<Cs40000). said warrants having been is-
sI,ed fo. the purpose OF paying TOT tne
invtalIation of an electric llshtins
system In the streets Of the SAID clty
commonly known as 1.-The "nlte way
WHEREAS, warrants have been OF
will he. drawn ON said fund which, TO-
cot her with the interest 10 accrue
thereon. win amount to the sum OF ap,
nroximately Ten Thousand tSlo,ooo1
dollars; said warrants having Deen.
10 he. issued for the purpose or paying
for the CONSTRUCTION and equipment Oh
a detention hospital i'm said city; and
: WHEREAS, there is no money ~ SUI
Fund or in any other fund OF sald cat!
to pay for said warrants; ana,
WHEREAS, large benefits nave ac-
crued to the general public and TO the
citizens of said city by reason OF tne
making Of said improvements; and,
WHEREAS, the total assessed valua,
ton OF all the taxable property IN say
city as shown by the last assessment
led and as certified to by the city
clerk, is S2,s73.1s2.oo dollars: and,
WHEREAS. the issuance in the
amount above stated, and sale or poi,us
beyond the Limitations set forth in its
ch.rrter. or as otherwise provided by
'HWHEREAs. the Mayor and City,
Council Of said city have determined
and decided and do hereby determine
THINGS necessary and essential TO the
valiflity of the bonds Of said city. mere
iHahove ard hereinafter mentioned re-
nui.ed by Jaw to be done, have been
fuiiy done ahd PERFORMED -
= NOW THEREFORE,. IN CONSIDER
ATION\ OF HE PREMISES:
: The CITY Council of the City OF Be-
,r,idii does ortfain as follows:
Section l. >Ihat 1T appears TO 'ne
MAYOR and Council Of said city that II
woHld, be and It Is hereby deemed al
visables to issue:
Municipal Coupon Bonds Of the City
of RamitfSi. ,Beltrami County. Minneso-
Ia to an amount aggresating the pr,n-
cinal sum of Fifty thousand ts5o,oo0)
!sn1Iars combyised Of fifty 500 bonds
numbered consecutively from one ~
to. Fifty (50J, both numbers inclusive
OF \the denomination OF one 1n 1uunarv
III ,OO0) dollars each. dated January
end A.'D. 1893, dee. and payable as fol-
lowst- -,
Ronos numbered from one to ten in
elusive on yanuary End. 1924.
), Bonds numbered from eleven s,a, ,opt 20
twenty inclusive: on January znu l1aS
bonds numbered twe a,ty 1ass % '"'''s
Inclusive on January Znd. i'lo'
Bonds numbered th.cty-one |" 'ol'S
inclusive. on: january 2nS.-l92'. s,..,,
=, ponds numbered forty 10 Hl'S
inclusive on January End, 1928, t,.,,,r
bearing interest from their tmteS u1.I.
paid ut the rate OF six co. per Gem'u nn
nor annllm, payable semi-annuailv on
the second days OF january ana July
respec tively In each year. both prlncipa.
thereof and interest thereon payhDle AZ
such place as the City Councu may
hereafter direct. to provide Iuhns lo1
the purpose and on account of the FERN
h nent Improvement Fund in the Treas.
NY of the City Of emidji,' Beitram1,
crunty, Minnesota: Forty Thuosanu
rs iO,OO0) dollars of said funds 10 NC
used for the specific purpose OF pay
ing the warrants w wh!e rne nay, Wh,te et Way"
electric lighting system now Installed
in the streets OF said city; ana Zen
Thousand t$1O,0O0) dollars OF SAID
funds to be used for the spectre pur-
pase of paying the warrants =, WHY" mayl
he 90 been or will be issued IN pay
me,tt for the construction and equip,
ment OF q detention hospital IN SAID
city ,.;,. ,,1,d. for
+ho nsirpose and account of the feru-
anent Improvement Fund OF SAD Guy
Nv v;rtue Of and in pursuance or the
nrovisions OF the city charter or SAID
XIV there shall be and there are mere
Nv authorized, ordered and directed W
bs issued rs hereinafter provided. the
NunicipaI Coupon Bonds OF said Guy 10
an amount IEgregating the princiin'
a. AZ, ~ Fiftv Thousand (s50.000) dol
49,. that said bonds shall be known
Ia .ars Jss;Enoted Permanent Improve
ment Fund Bonds Of the City .. OF IEeI
midi, Minnesota" shali De 10y +;v voIIy
III number, numbered conseGut l,
FROM one u) to fifty t5o)' Do.n nu' If
bersI inclusive, Of the oenolniI,.i.'oa. ,ob
One Thousand [$1,oO0) Noliars n,,I
haaring date and becoming ous a.,
W. vohIe as set forth in Section hefSin
,n; that the installments or ln'eteSSii
tC date of maturity OF principal. sna,.
-. evidenced by appropriate couponS
~, .,.hcd to each bond. and both me ln
tsrs'N accruing on and the princtpai ~
said Sondss shall be payable IN Lh"tmi
n,nnavAof the United States or an'erie,
-, s,Ich\ place as the City Counc'i may
i1saction q. That each of said ponas
/, "A 'e.rrh fof the interest coupons 10 nc y.
Shareto alta ehed, shall be suns'ah'h'Ai'
*: the Following II forms. to-Wlt: "-s
= (FSrYn of Bond)
(IrNIrED STATES OF AMERICA
NJ STATE OF
. IA. (tf,y'N-ry OF BfSLTRAMl