The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1934-10-26

the interest payment date Immediately
preceding the date of payment of the
purchase price to the date of the pay
ment of the purchase price. In accord
ance with, terms and conditions set
forth in the bid.
The Council took the matter under
consideration and at this time was
advised by the City Attorney that he
had furnished the Legal Division of the
Federal Emergency Administration OF
Public Works with an opinion which
was a modification of their theory of
the tax limitations affecting the City
of Ely.
Alderman Brennan offered the fol-
lowing resolution:
WHEREAS, upon the opening of bids
on the 10th day of October, 1884. at
eight CD O'Clock p. M, pursuant to
notice duly given and published as re-
quired by law, and as directed by the
resolution of this Council duly adopted
on the End day of October, 1884, for the
purchase of $59,0O000 in amount of
bonds of said City of Ely. or any part
thereof, authorized by the electors OF
said City of Ely at an election held on
the 10th day of February, 1884, and
authorized and ordered to be issued by
this Council, by its resolution duly
adopted on the 18th day Of August,
1884, said bonds to be issued for the
purpose of financing the cost of con-
structing, extending, enlarging and i'm
proving the Water and Electric Light
Plant within and for the use OF the
City of Ely and it's inhabitants, this
Council finds and determines 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 Council
in the ELY Miner, newspaper desig-
mated by this Council for that purpose
and this Council, also finds and de-
termines that the bid of the United
States of America by its duly authorized
representatives for the Federal Emer-
gency Administrator of Public Works
to purchase and pay for adj the bonds
as described in said published notice
| is the best bid submitted for the pur-
chase of said bonds, and whereas it is
hereby determined by this Council that
said bid is the most favorable bid SUBJ
mitted for the purchase of said bonds
and the acceptance of said bid is hereby
determined to be for the best interests
of said City of Ely, and that said bid
hereby is accepted, and all of said
bonds numbered to So both numbers
inclusive, be ana are hereby sold to
the United States of America in &C
cordance with aud upon the conditions
specified in such bid;
NOW, THEREFORE,, BE 1T RE-
SOLVED by the City Council of the
City of Ely that the Mayor of said
I, City of Ely be and he is hereby author
lied and directed to sign said bonds
and the City Clerk to attest the same,
and the City Treasurer to countersign
1.-THE same, and the corporate seal of the
City of Ely, to be affixed thereto, and
upon the payment of said bonds, in
accordance with the terms of said
bid of said United States of America
the Treasurer of said City of Ely is
hereby authorized and directed to de-
liver said bonds to the United States
of America, or to whomsoever said
United States of America shall direct
on receipt from said purchaser of the
| full amount of said purchase price and
accrued interest on said bonds to the
date of delivery thereof.
Alderman Brennan moved the
adoption of the foregoing resolution
which motion to adopt was seconded
| by Alderman Zgonc.
| The vote thereon was as follows:
Ayes: Aldermen Brennan, Carlson
Hokkanen, Kapsch, Tauzell, zgonc and
Mayor Harri. Cd
Nays: None. (0)
Upon said vote, said resolution was
declared adopted this 10th day OF
October, 1884.
Moved by Alderman Kapsch, sup
ported by Alderman Hokkanen, that
the meeting adjourn until 7:30 o'clock
P. M, Friday, October 10, 1884. Car
ried.