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

for 1927, and amendments thereof.
Now, therefore, be il, and it is
hereby found, determined and re-
soNsS By u efe Rod ES SSaa SIM
Hembied, as f5H5Mtsi sSSS'994 1'PM W
4, That by the, issuance and SALE
of said bonds Of said county in the
Dollars $500 O00.0O). !, the aggregate
net Indebtedness of said county, in
elusive of said issue of Five Hun
bred Thousand Dollars $500, 00Q.V0)
in anl9pnt, will not at any any time eE-
assessed valuation of the taxable
real property in said county, accord
ing TO the last official assessed yalu-
alton thereof. 5at +,
2. That in the Judgment of the
said county, for the purpose of bor-
rowing said sum of Five Hundred
Thousand Dollars $500. 100000, for
the purposes aforesaid, it is neces-
sary and eNpedient, that the bonds
of said county should be presently
issued and sold in the amount of
Five Hundred Thousand Dollars
$500. 100000 par value, as authorized
by Chapter 10, Mason's Minnesota
Statutes for 1927, and amendments
November lst, 1888; shall >be con-
secutively numbered from one ID to
five hundred 5000, both numbers
inclusive shall be of the denomina-
ton of One Thousand Dollars
(sl, OOO) each; shall be due and pay
sand Dollars $3.50, 000.00) in amount
on November LIST. 1885; Fifty Thou
sand Dollars ($50,000.00) on Novem-
Der LIST Of each of the year 1896 to
bearing interest at the rate of four
per cent (495) per annum, payable
semi -annually on November list and
May LIST of each year until paid;
that both principal and interest shall
be payable at the Irving Trust Com
pany of New York, New York: that
the bonds be signed by the chair
man of the county board, and coun-
tersigned and sealed by the county
auditor of said county; that the in
terest 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 chairman and said county audi
tor 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-sim-
lie signatures appearing on said
coupons.
8. That each of said bonds and
coupons be in substantially the fol-
lowing form:
(Form of Bond)
United States of America
State of Minnesota, County of
st. Louis,
County Road Bond.
Number. $50. Sl,O0O.OO
Know all men by these presents,
that the county of st. Louis, in the
State of Minnesota, hereby acllnowl-
edges itself to owe and for value re-
ceived promises to pay to the bearer
the sum of One Thousand Dollars
Isl, 000 00) in lawful money of the
United States of America, on the
first day of November, 1873. with
interest thereon at the rate of four
per cent go per annum, payable
semi-annually on the first day of
November and May of each year, on
interest coupons hereto attached, as
they severally become due. Both
principal hereof and interest hereon
are hereby made payable at the lr-
wing Trust Company of New York,
New York.
For the prompt payment of this
bond. both principal and interest at
maturity, and for the levy of a tax
sufficient for that purpose, the full
faith, credit and resources of said
county are irrevocably pledged.
This bond is issued by said county
for the sole purpose of providing
funds for paying and discharging the
expenses incurred and to be incurred
in laying out, opening, building and
improving public highways in the
nature of county roads in the county
of st. Louis, all in accordance with
the provisions of chapter 10, Ma
sons Minnesota Statutes for 1877,
and amendments thereof, and under
the provisions of the national indus
trial recovery act.
And it is hereby certified and re-
cited that all conditions, acts and
things required by the Constitution
and Laws of Minnesota to exist or
to be done and performed, prece-
dent to and in the issuance of this
bond, did exist, have happened, been
done and performed in regular and
due form and time as required by
law, and that the Indebtedness of
said county, including this bond,
does not exceed any limitations i'm
posed by law.
In testimony whereof, said county
of st. Louis, by it's county board,
has caused this bond to be signed
by it's chairman, and counterslgned
by the county auditor, and the seal
of said county auditor affixed hereto,
and the coupons hereto attached to
be signed by said chairman and
county auditor by o Their fac-simile Gd ra
spectively, by the execution hereof,
adopt as and for their respective
signatures, their respective fac-sim-
lie signatures appearing on said cou-
pons, on this first day of November,
1888
Chairman of County Board, County
of st. Louis, Minnesota.
Countersigned:
&. .-..........
County Auditor, County of st. Louis,
Minnesota.
sc
No. 49,. $1,000
On the first day of. $50.
b., the county of st. Louis, in
the State of Minnesota, Will pay to
the Irving Trust Company of New
York, New York, for interest due
that day on its County Road Bond
dated November 1, 1888, Number.
Chairman of County Board Of County
of st. Louis, Minnesota.
:. ...................
County Auditor of County of ST.
Louis. Minnesota.
A. That the chairman of said
county board and the county auditor
are hereby expressly authorized and
directed to sign, execute and deliver
said bonds in the form and manner
aforesaid.
5. That the county. auditor is
hereby authorized and directed to
make arrangements for the. sale of
the first $500, 100000 of said bonds,
consecutively from one "a
to five hundred 5000 both numbers
inclusive, dated November LIST, 1888,
maturing in amounts of S50,000.00
on November LIST in each of
the years 1885 to 1874, both years
inclusive, by published notice in the
Duluth News Tribune, a daily news
paper heretofore designated as an
official newspaper of said county.
and hereby designated for that pur-
pose. at regular intervals once each
week for two successive weeks, of a
of this board to open and
consider bids for the purchase of all
of said bonds hereinbefore specified
to be sold, which meeting of said
board is hereby fixed to be
held in the county board room, court
house, at Duluth, Minnesota, at 1870
D clock, D. M, on October 31st, 1888,
for the purpose of opening and con-
said bids. That the balance
Of said bonds in the amount of
81, SOC. 900 90 be sold, as funds for