The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-07-21

upon said poor fund, and for the
purpose of furnishing necessary sup
port and poor relief for the poor in
said county.
Now, therefore, be 1t, and 1t is
hereby found, determined and re-
| solved, by the board of county COM
missioners of st. Louis county, Min
nesota, in regular session duly as
| sembled, as follows:
| of said bonds of said county in the
amount of one million dollars Isl ,000,-
000.00), the aggregate net indebted
| ness of said county, inclusive of said
issue of one million dollars $1,000
000.00) in amount. will not at any
| time, exceed fifteen per cent (15ge)
of the assessed valuation of the tax
able real property in said county,
according to the last official assessed
valuation thereof.
draft and shortage in the poor fund
of st. Louis county of more than
seven hundred fifty thousand dol
lars (s750,000.00), not including in
terest on said overdraft, and not
including any orders or warrants on
by the board of poor commissioners
of said county, all contracted for the
sole purpose of furnishing support
and poor relief for the poor of said
COUNTY, Sdlu amount DclflS GACeSS
of all monies available for the pay
ment thereof, and as authorized by
law.
8. That in the judgment of the
board of county commissioners of
said county, for the purpose of bor-
lars $4,000, 000.00), for the purposes
| aforesaid, it is necessary and expedi-
ent, that the bonds of said county
should be presently issued and sold
in the amount of one million dollars
Isl 900. 000.00) par value. as authoriz-
ed by chapter 43, Laws of Minnesota
for 1888, as amended by chapter 131,
Laws of Minnesota for 1898, and un-
der chapter 338, Laws of Minne-
sofa for 1898, which bonds bonds shall II
be consecutiveiy numbered FRI m
one ID to one thousand Q,000), both
numbers inclusive; shall be of the de-
nomination of one thousand dollars
($1,000.00) each; shall be due and
payable as follows. to-wit: Two hun
000.00) in amount on July LIST, 1895;
two hundred fifty thousand dollars
($250, 000.00) on July LIST of each of
the years 1886, 1897 and 1888; all
bearing interest at the rate of four
and three quarters per cent (4%%o)
per annum, payable semi-annually
on July LIST and January LIST of each
year until paid; that both principal
and interest shall be payable at the
Irving Trust company of New York,
New York; that the bonds be signed
by the chairman of the county board,
and countersigned and sealed by the
county auditor of said county; that
the interest accruing on said bonds
be evidenced by coupons thereto at
tached, maturing on the several dates
when such interest natures, and that
such coupons be signed by said chair
man and said county auditor by their
fac simile signatures, which officers
respectively shall by the execution
of said bonds adopt as and for their
respective and proper signatures,
their respective fac-simile signatures
appearing on said coupons.
4. That each of said bonds and
coupons be in substantially the fol-
| lowing form:
UNITED STATES OF AMERICA
State of Minnesota, County of
ST. Louis,
County Poor Fund Bond
| Number 800. LOCO. 90
KNOW ALL MEN BY THESE
| PRESENTS, That the County of st.
| Louis, in the State Of Minnesota,
| hereby acknowledges itself to owe
and for value received promises to pay
Dollars (s1, 000.00) in lawful money
of the United States of America, on
xxrsx l.
the flrst day OF July l9S", Win
interest," thereon at the rate OF Io ~ {
ana tnree-q quarters per cent HN Tol
per annum, payapie semi lam IaIy on
the Ilrst Gay OF July anu January
OF each year. on pIesen.a'ioi anu
surrender OF the Ihterest coupon ms
hereto attacneq. as tney Severany
become Que. Botn princlpaL nereol
and interest," neTeon are nereDy mace
payaple at the lTVlns trust Company
OF New fork, New iork. - .h;,
FOR the proInpl payi1e.e oi .nis
BOND. both princlpai ana interest," at
maturity. ana Ior the levy OF TAX tax
suilIcient uor .nal puIpose. eae nIi
Ialtn, credit anu ISSourIes s "a sdiu
Comhty are irre ,5 pie b G+,,
| ms pono Is iSsueu Wy me 0u .,d;r J.
LOT the SOLE puapoSe u pioSiu, ~, :,
Iunos LOT paying anu ulscnaIsHs a az
existlng oyerdraII OF snortaSe N t s
Poor Funo OF saiu County, anu lor
Iunolhg any anu an oruefs Vi mr,
| rants neTesoiore OF mereaI Der u Tarh
OF Issueo ny @ Sunty -. aia
| mlssion OF saio Couhty upon s asa
| oiution duly ana properiy Passso ny
.Re 59aCu ot Soumsy Noi ~ tIsa ,o LEE
VI Sdiu Souieys puA ouohS " ShS y.