The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-12-01

amount of $4,000, 100000 of bonds OF
said county of st. Louis, for the pur-
pose of paying In isv, incurred nt
opening, building and improving
public highways in the nature 9oi
county roads iIIJthe county of St
Louis, state Of minnesota, all in ac-
cordanee with the provisions Of
utes for, 1927, and amendments there
Of +, and Iasrl9l jufeih8fa ~
~ Whereas, @ in lthe judgment of the
board of county commissioners OF
said county of st. Louis. it is ne
cessary land advisable, and for the
best interests of said county, that
the sum of five hundred Thousand
dollars (S500. 000.00) in amount should
now be raised by the issuance and
sale of that amount of the road
purpose of providing funds for pay
ing the expenses incurred and to be
incurred in laying out, opening,
building and improving public high
ways in the nature of county roads
in st. Louis county, in accordance
with the provisions of chapter 10,
Mason's Minnesota statutes for 1927,
and amendments thereof.
Now. therefore, be it, and it is
hereby found, determined and re-
missioners of st. Louis county, Min
nesota, in regular session duly as
sembled. as follows:
/. That by the issuance and sale
of said bonds of said county in the
amount Of five hundred thousand
net Indebtedness of said county, in
elusive of said issue of five hundred
thousand dollars ($500, 100000 in
amount, will not at any time, ex-
coed fifteen per cent $50 of the
assessed valuation of the taxable
real property in said county, accord
ing to the last official assessed valu-
alton thereof.
2. That in the Judgment of the
board of county commissioners OF
rowing said sum of five hundred
thousand dollars (S500.000.0O), for the
purposes aforesaid, it is necessary
and expedient, that the bonds OF
said county should be presently is
sued and sold in the amount OF
O00.00) par value, as authorized by
chapter 10. Mason's Minnesota stat
utes for 1927, and amendments there
of, which bonds shall be dated No
vember LIST. 1888; shall be consecu-
lively numbered from one % to five
hundred 5000, both numbers inclu-
sive; shall be of the denomination OF
1ne thousand dollars ($1,000.00) each;
shall be due and payable as follows,
to-wit: fifty thousand dollars ($50,
UOO.UUJ III dIlOullt Oll november ISL,
1885: fifty thousand dollars ($50, 900. 0O)
on November LIST of each of the years
1895 to 1914, both numbers inclusive
all bearing interest at the rate OF
four per cent go per annum, pay
able semi-annually on November LIST
and May 1st of each year until paid
that both principal and interest
shall be payable at the Irving Trust
company of New York, New York
unless otherwise designated by the
purchaser thereof; that the bonds be
signed by the chairman of the coun-
ty board, and countersigned and
sealed by the county auditor of said
county: that the interest accruine
on said bonds be evidenced by cou-
pons thereto attached. maturing on
the several dates when such in
terest natures, and that such cou-
pons be signed by said chairman and
said county auditor by their fac
simile signatures, which officers re-
spectively 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.
8. That each of said bonds and
coupons be in substantially the fol-
lowing form: