The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1924-12-11
promises to pay to the bearer


.'.... ...s...5.9.....
Dollars ($.....) at the office OF
the City Treasurer of said City IN
Sank Centre, Minnesota, being the
interest then due on it's Street Inn
provement Certificate of Indebted
ness dated 49,
1924 No. :. .r... ......
Mayor of City of Sank Centre,
Stearns County, Minnesota.
Countersigned:
s..e........ ........... :. 80
City Clerk.
6. Be it further resolved that the
Mayor of the City of Sank Centre,
Stearns County, Minnesota and the
City Clerk are hereby authorized and
required to execute the said certifi-
Gates of indebtedness for and on be.
half of the said city substantially in
the form aforesaid, provided, how
ever, that the interest coupons may
be executed with the fac-simile sigma
lures of said officers, and when so
executed the same shall be delivered
to the purchaser thereof upon pay
ment into the City Treasury of the
purchase price thereof, which shall
be not less than the par value and
accrued interest of said certificates,
and the purchaser shall not be bound 4
to see to the application of the pur-
chase price.
7. That a special assessment fund
shall be provided and is hereby Great
ed for the said improvement and the
proceeds of the sale of the certificates
herein authorized to be issued shall
be placed in such fund which fund
shall be designated and known as
"The Fund for Special Paving I'M
provement No. %. The Council
shall provide moneys for the payment
of the principal and interest of said
certificates as they severally mature
out of any moneys in the City Treas
ury when the moneys on hand in. the
appropriate special fund are insuffic-
ent to meet the payment of principal
or interest as the same natures, but
the fund from which such moneys
have been taken or used for the
payment of such principal or interest
shall be replenished with interest at
the rate of six per cent (68o) per an
mum from the collection of unpaid
assessments on account of such inn
provement. That the full faith,
credit and resources of said City of
Sank Centre, Stearns County, Min
nesota and of the City Council there
of as such, be and the same are here,
by irrevocably pledged to provide the
money for the payment of the prin-
cipal and interest of said certificates
at maturity. Into said fund shall al
so be paid all moneys received from
the payment of any liens created or
to be created under the provision Of
law for the payment of said improve
ment.
8. Be it further resolved that bids
for the sale of said certificates will
be received by the City Council of
said city until 7:30 o'clock P. M.
December 10Th, 1924, at which time
they will be considered by said City
Council at the office of the City
Clerk in said city, and that notice.
of the sale of said certificates shall
be published for two (2) consecutive
weeks, once in each week, prior to
the opening Of bids in the Sank Cen
tire Herald, the official newspaper of
said city.
9. That notice of the sale of said
certificates in the following form
shall be given by the City Clerk who
shall cause said notice to be published
in said newspaper, to-wit:
NOTICE OF SALE OF CERTIFI-
GATES OF INDEBTEDNESS
The City Council of the City Of
Sank Centre, Stearns County, Min
nesota, will receive bids at
o'clock P M. on December 10Th,
1924 at the office Of the City Clerk
in said city for the sale Of certifi-
Gates of Indebtedness of said City of
Sank Centre in the aggregate sum of
Nineteen Thousand Two Hundred
Dollars (s19,200), said certificates
all being dated December 10Th, 1924
and maturing Thirteen Hundred Dol
lars ($1300. 00) on December LIST,
1926 and each year thereafter until
and including 1888, and One Thous-
and Dollars ($1O0O) on December
LIST, 1889, and all of said certificates
bearing interest at such rate as the
said City Council may determine at
the time of such sale payable June
LIST, 1925 and semi-annually thereaf-
ter on the first days of December and
June, both principal and interest be-
ling payable at the office of the Treas
urer of said city. Said certificates
provide that the segregation of the
principal and interest of any or eth
er of said certificates in the office of
the City Treasurer and the deposit of
notice addressed to the registered
holder thereof in the postoffice at
Sank Centre, Minnesota shall term
mate the accumulation of interest.
The said certificates of Indebtedness
are to be issued to provide part of
the funds for the improving of
/ nortian Of Main Stroat il, cold c;fu