The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1923-05-25

to the purchaser. The proceeds of
said bonds to be used for the pur-
pose aforesaid.
BE 1T FURTHER RESOLVED:
That the bonds and coupons afore-
said shall be in substantially the
following form, with numbers and
maturities as herein provided:
No.- 100000
COUNTY OF ST. LOUIS
INDEPENDENT SCH DOL DIS
TRICT NO. IL
SCHOOL BUILDING BOND.
KNOW ALL MEN BY THESE
PRESENTS, that INDEPENDENT
SCHOOL DISTRICT No. IL, st.
Louis County, State of Minnesota
acknowledges itself to owe and for
value received promises to pay to
bearer
ONE THOUSAND DOLLARS
lawful money of the United States
of America, on the 1st day of June,
10, with interest thereon from
the date hereof until paid, at the
rate of five and one-fourth (5A %)
per cent per annum, payable semi
annually on the First day of JUNE
and the FIRST day of DECEMBER
in each year, upon presentation and
surrender of the annexed interest
coupons as they severally become
due. Both principal and interest
of this bond are hereby made pay
able at the Illinois Merchants Loan
& Trust Company in the City Of
Chicago, Illinois.
THIS BOND is issued for the
purpose of defraying expenses in
Cured and to be incurred in the
construction and equipment Of a
school building, in said district,
under the authority of and in full
compliance with the provisions of
the laws and statutes of the State
of Minnesota thereunto enabling,
and pursuant to a vote of more
than a majority of the qualified
voters of said district, present and
voting at a meeting and election
duly called and held on the 10th
day of March, 1923, and pursuant
to resolutions duly adopted py the
Board of Education thereof.
1T is HEREBY CERTIFIED
AND RECITED that all acts, con-
ditions and things required to ex-
list and to be done precedent to and
in the issuance of this bond by the
laws and constitution of the State
of Minnesota, have duly happened
and been performed; that provision
has been made for the levying
and collection of a direct annual tax
upon all of the taxable property with
in said INDEPENDENT SCHOOL
DISTRICT No. IL, st. Louis
County, State of Minnesota. to pay
the interest and principal Of this
bond as the same shall become due,
and that the total Indebtedness of
said district, including this bond,
does not exceed any constitutional
or statutory limitation. For the
prompt payment hereof, both prin-
cipal and interest as the same shall
become due, the full faith, credit
and resources of said district are
hereby irrevocably pledged.
IN TESTIMONY WHEREOF the
said INDEPENDENT SCHOOL DIS
TRICT No. IL by its Board of
Education, has caused this bond to
be signed by the Chairman Of the
Board and countersigned by the
Clerk of the Board, and the cou-
pons hereto attached to be executed
with the facsimile signatures of
said officers this first day of June,
1923.
GEO. T. AYRES,
Chairman of Board of Education
of Independent School District
No. IL, st. Louis County, Min
nesota.
COMMISSIONED:
VIM. OLDS, JR.,
Clerk of the Board Of Education
Independent School District No.
IL, st. Louis County, Minnesota.
(FORM OF COUPON)
On the First day of December,
10, INDEPENDENT SCHOOL,
No. 12 of St. Louis
County, State of Minnesota, pro-
misses to pay to bearer Twenty-six
and 25-100 Dollars ($26.25} at the
Illinois Merchants Loan & Trust |
Company, Chicago, Illinois, being
the semi-annual interest due that |
date on its School Building Bond,
dated June l. 1928.
GEO. T. AYRES,
Chairman.
COMMISSIONED:
VIM. OLDS, JR., Clerk
BE 1T FURTHER RESOLVED,
hat the bonds and coupons thereto
when duly prepared in the
'orm aforesaid, shall be signed by
he Chairman Of the Board Of
J