The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-08-18

structed to transfer from the county
bond interest, county bond sinking
and ditch funds heretofore mention
ed, to the several districts and the
engineering fund. said amounts as
| soon as the receipts of monies into
said funds shall warrant same.
Commissioner Newman moved the
adoption of the resolution and it was
declared lost upon the following vote
Yeas-Commissioner Eklund, An
derson and Newman-3.
Nays-Commissioner Koski, Pasich
and Chairman Pete-3.
At this time Commissioner Snyder
came in and resumed his seat in the
| county board, and not having voted
on the said resolution, he moved for
| reconsideration, and the same was
ordered reconsidered upon the fol-
| lowing vote:
| eas-Commissioners Eklund, Sny-
/ Pasich-6.
Nays-Chairman Pete-1.
| Commissioner Newman moved to
| amend the original resolution, and
the said motion was declared adopt
ed upon the following vote:
| Yeas-Commissione Eklund, Sny-
| der, Newman, Koski, Pasich and
| Chairman Pete-6.
| Nays-Commissione Anderson.
| Commissioner Anderson explained
his vote in voting mo" by saying
he voted in the negative because he
| favored the passage OF the resolution
as originally drafted.
Commissioner Newman moved the
| adoption of the resolution as amend
ed. and the same was declared adopt
| ed upon the following vote:
Yeas-Commission El1lund, Sny-
| der, Anderson and Newman.
Nays-Commissione Koski, Pasich
and Chairman Pete-3.
Adopted July 9th, 1888. =
BY Commissioner Pasich:
Whereas, upon the opening of bids
on this the twenty-seventh day of
| in the afternoon, pursuant to notice
| duly given and published, as required
| by law, and as directed by the reso-
| luton of this board duly adopted on
| July 18th, 1888, all seven members of
| this board being present and voting,
| for the purchase of seven hundred
and fifty thousand dollars (S750, 000.00)
in amount, of the poor fund bonds of
said county, or any part thereof, au-
| thorized and ordered to be issued by
adopted on July 18th, 1888, for the
sole purpose of providing funds for
paying and discharging the existing
overdraft or shortage in the poor
| fund of said county, and for fund
ing any and all county orders or
warrants heretofore or hereafter
drawn or issued by the county poor
| commission of said county upon said
| fund, this board finds and deter
| mines that due and regular notice of
| the receiving of proposals for the
purchase of said bonds has been
published as provided by law, and by
said resolution of this board, in the
Duluth News-Tribune, a daily news
| paper designated by this board for
that purpose; and this board also
bid of the First and American Ma
| tional Bank of Duluth, the Northern
National Bank of Duluth and the
City National Bank of Duluth, Min
| nesota, dated July 9th, 1888, to pur-
chase and pay for two h1 1IsIc d. and md
in amount of said bonds maturing
July LIST, 1895, and to purchase and
pay for five hundred thousand dol
| lars (s500, 000.00) of said bonds, mat
dollars $3.50, oOO.Oo) on July LIST, 1889,
| and two hundred fifty thousand dol
lars ($250, 000.00) on July LIST, 1910,
paying for each of said maturities
of bonds a sum and price of accrued
| interest from July LIST, 1888, to date
that will cost the County of st. Louis
a maximum interest rate of six per
cent $50 per annum, for and as the
purchase price of said two hundred
ooO.Oo) maturing on July LIST, 1895,
and a sum and price that will cost
| the county of st. Louis a maximum
| interest rate of five and three-quar-
ters per cent (5Aqo) per annum for
and as the purchase price of two
hundred and fifty thousand dollars
| (S250, 100000 maturing on July LIST,
1889. and for and as the purchase
price of two hundred and fifty thou
sand dollars ($250,0o0.00) maturing
the provisions of chapters 43, 131 and
| 1888, Laws of Minnesota for 1893, all
of said bonds bearing date of July
LIST, 1888, being for the sum of one
thousand. dollars (s1,ooo.oo) each,
and three quarters per cent (4A%d)
per annum, interest payable semi
annually on July LIST and January
| LIST of each year until the maturity
| thereof, and all of said bonds being
due and payable in lawful money of
| the United States of America, with
out option of prior payment, and
| numbered serially 1 to $50 for said
bonds maturing July LIST, 1895, and
numbered 1.0o1 to 1900 for said bonds
maturing July 1st,. 1899, and July
inclusive, all of said bonds being is
sued solely for the purpose of pro-
viding funds for paying and discharg-
| ing any existing overdraft or short
age in the poor fund of said county
| of st. Louis and for funding any and
all orders or warrants heretofore or
hereafter drawn or issued by the
county poor commission of said coun-
| ty, upon said poor fund, is the best
bid submitted and is hereby deter
mined by this board to comply with
| the terms of the said bond sale au-
| thoriZed and provided for by the reso-
luton of this board, duly adopted
and recorded by this board on July
18th, 1898, and to be the most favor
able bid submitted for the purchase
of said bonds, and the acceptance of
said bid is hereby determined to be
for the best interests of said county
and that said bid be and hereby is
| accented and all of said bonds num-
bered l to ESQ, and 1,001 to 1900
| respectively, both numbers inclusive
| be and are hereby sold to the First
and American National Bank of Du-
luth, the Northern National Bank of
| Duluth and the City National Bank
of Duluth, jointly, in accordance with
| and upon the conditions specified in
| their said bid.
Be it further resolved, that the
| chairman of the county board and
the county auditor of said county of
st. Louis be and they hereby are au-
| thorized and directed to cause said
| bonds to be signed by the chairman
of this board, and to be countersign-
| ed by the county auditor of said
county, and to be sealed with the
seal of said county auditor, and upon
/ the final payment for said. bonds,
| the county treasurer Of said county
| is hereby authorized and directed
/ to deliver said bonds to said First
and American National Bank of Du-
| luth, the Northern National Bank of
| Duluth and the City National Bank of
| Duluth jointly, or to whomsOever
said purchasers shall direct, on re-
ceipt from said purchasers of the
| full amount of said purchase price
and accrued interest on said bonds,
| to the date of delivery thereof, as
specified in. the said bid Of said