The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1924-12-11

rate as the said City Council shall
determine at the time of the sale
thereof, payable June 1st, 1925 and
senii-annually thereafter on the first
days of December and June in each
year, both principal and interest be-
ing payable at the office of the Treas
urer of said City. The said certif-.
Gates of Indebtedness are to be issued
to provide part Of the funds for the
improving Of portions of Main and
Third Streets in said city and which
improvement is known and designat-
ed as Especial Paving Improvement
No. II. Each bid must be uncondi-
tional and accompanied by check
for Five Hundred Dollars ($500)
payable to the order of B. F. Dubois,
City Treasurer, which check will be
forfeited to the city as liqu;dated
damages in case the bidder fails to
carry out his bid. No bid for less
than par and accrued interest will be
considered and the right Isl reserved
to reject any and all bids.
Alderman Brown seconded the mo-
ton and it was unanimously carried.
Alderman Holme offered the follow
ing Resolution and moved its adop-
ton, to-wit:
WHEREAS, Proceedings have.
been duly had and taken for the con-
struction of certain street improve
ments consisting of pavement, gut
ter and curb in the City of Sank
Centre, Stearns County, Minnesota,
and the street to be so improved is
Main Street in said city from its in
tersection with the North line of
Third Street to its intersection with
the South line of the bridge on said
street and across Sank River, and
which improvement has been desig-
mated by said city as Especial Paw
ing Improvement No. %, and
WHEREAS, A contract has been
entered into by said city for the max
ing Of said improvements, and has
been performed, and
WHEREAS, The expense incurred
and to be incurred in the making of
said improvement is more than the
sum of Nineteen Thousand Two Hun
dred Dollars ($19,200) and there is
not sufficient money in the Treasury
of said city to defray the expense in
Cured or to. be incurred in making
said improvement.
NOW, THEREFORE, Be it re-
solved by the City Council of the
City Of Sank Centre, Stearns Coun-
ty, Minnesota, as follows. to-wit:
1. That it is necessary and exped-
lent for said city to issue pursuant
to the provisions of Chapter 65 Of
the Laws of, Minnesota for 1919, as
amended, it's certificates of indebted
ness in the aggregate sum of Nine
teen Thousand Two Hundred Dollars
($19,200) for the purpose Of defray-
ing portion of the expense incurred
and to be incurred in the making of
said Improvement, and which said
certificates shall be Forty-four (44)
in number and numbered from One
CD to Forty-four (44), both inclus-
i've, and each of which certificates
shall be dated December 10Th, 1924
and which certificates shall bear in
terest at such rate as the Council
shall determine at the time of the
sale thereof, payable on the list day
of June, 1925 and on the 1st day of
each December and June thereafter,
and both the principal and interest of
which said certificate shall be payable
at the office Of the City Treasurer of
said city Of Sank Centre, and which
interest shall be evidenced by appro-
pirate interest coupons attached to
said certificates and which coupons
shall be executed with the fac-simile
signatures of the mayor and the city
clerk and which certificates shall b.
signed by the mayor of said city, at
tested by the city clerk and counter
signed by the treasurer and sealed
with the seal Of said city.
| 2. That the said certificates to
be issued on account of said improve
ment shall be in denominations OF
i Five Hundred Dollars and Thre
Hundred Dollars ($3OO) and then
shall be two (2) certificates of Fiv.
Hundred Dollars ($500) each matur.
ing and coming due on December LIST,
1925 and like number of said Five
Hundred Dollar certificates maturing
and coming due on the 1st day of
each December thereafter until and
including December LIST, 1889, and
there shall be one ~ certificate OF
Three Hundred Dollars ($3O0) ma
turing and becoming due on Deem
Der LIST, 1925, and on the first day of
each December thereafter until and
including December LIST, 1898.
3. That said certificates as to prin-
cipal shall be made payable to the
| order of the purchaser or purchasers
thereof and shall be registered as to
the names and addresses of the own
ers and holders thereof, by the city
treasurer in a book kept for that pur-
pose and no subsequent transfer of
any such certificate shall be valid,
insofar as the city is concerned, I'M
less such transfer is Endorsed upon
/ the back Of the certificates and sets
forth the postoffice address of the
transferee and is presented to the
lefty treasurer for registration and
4 his collntersipnature showing such