The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1935-03-14
Chapter No. 1913

AN ORDINANCE AUTHORIZING
ISSUE. FORM OF BOND AND
OTHER DETAILS IN CONNEC>
TION HEREWITH AND PRO-
yIDING FOR NOTICE OF SALE LIZ
DOLLARS ($4,5OO.) STREET I'M
PROvEMENT BONDS.
The City Of Sank Centre does
Ordain:
Section 1. That whereas at the
time of framing the annual budget
for the City; for the current fiscal
that Five Thousand Dollars ($5.-
000.) might be raised by the issue
and sale Of bonds for the purpose
Of oiling or other street improve
ments and 1t has been and is DEEM
ed necessary to have an adequate
certain of the streets of the said
City, and whereas it is hereby de-
termined that the expence there.
for will constitute, q capital out
lay. and that said sewers will
constitute an Improvement to the
streets of said City, with an estim-
years. and the labor for which Inn
provement is furnished by and
through Federal agencies and the
cost OF the City's portion of which
Improvement Is approximately
Five Thousand Dollars, and where
to defray the cost Of such improve
ment. now therefore. the bonds Of
said City shall be issued for Forty
five Hundred Dollars ($4,500), or
such part thereof as may be re-
quired for such purpose, to pay for
such street Improvement by way or
storm sewer.
Section g.. That the monies re-
ceived by the City for said bonds
shall be used for the above purpose
and for no other purpose whatso-
ever,
tions as the City Council may de-
termine at the time Of the sale
thereof. dated April 2sth. 1885.
and shall be payable Five Hun
Dollars ($600.) thereof on or be-
fore July 18th, 1895. and One
ON or before o july 18Th uOi in eaeh e Of
the years 1887. 1888. 1889 and 1910.
and shall bear interest at such
rate per cent per annum as shall
be determined at the time Of
the sale of said bonds, but
not to exceed ! per cent pc Per
and annually thereafter. and which
interest shall be evidenced by cou-
pons attached to each bond and
both principal and interest of said
bonds shall be payable at the Of
flee of the City Treasurer in Sank
Centre, Minnesota.
Further, the bonds and coupons
hereby authorized shall be in sub
ktantially the following form.
UNITED STATES OF AMERICA
STATE OF MINNESOTA, COUNTY
OF STEARNS,
CITY OF SAUK CENTRE,
STREET IMPROVEMENT BOND.
know All Men by These Pres
ents, that the City of Sank Centre,
County Of Stearns, State of Mime
sofa. acknowledges itself indebted.
and, for value received, promises
TO pay to bearer the ne, sum OF i. w,;,;
money Of the United States OF
America, on the 18th day of July,
H., together with interest
thereon from the date hereof until
paid, at the rate of .......... per
Ssns 18th isss a pes annuay pa tSeee
after from said date, upon presen-
tation and surrender Of the an
nexed interest coupons as they
become due, both princi-
pal and interest being payable at
the Office of the City Treasurer, in
Sank Centre. Minnesota. ,.
lof Sank Centre. Stearns County.
Minnesota. for the purpose Of de-
fraying the cost of permanent
street improvements consisting OF
storm sewer system.
1t is hereby certified and recited
required by the charter of said
City and the Laws and Constitu-
ton of the State Of Minnesota to
exist, happen and be performed
precedent to and in the issuance Of
this bond, have existed, happened
and been performed in regular and
ouired by law, and that the total
Indebtedness Of said City. including
these bonds, does not exceed any
prescribed by the Char
ter of said City or by the Consti-
tuition and Laws of said State. For
the enforcement OF the covenants hsIa;n
contained, and for the levy Of q
sufficient tax to provide for the
prompt payment of this bond and
the interest thereon, the full faith,
credit and resorces Of said City are
hereby, fully and irrevocabiy
In Testimony whereof. said City
of Sank Centre, Stearns County,
Minnesota, has caused this bond
and the attached coupons to be
signed by the Mayor Of said City
and to be attested by the City
Clerk and to be- countersigned by
the City Treasurer, and to be seal.
ed with the corporate seal OF said
City. -
DateQ ssssssss A0So.
Mayor r. Of city Of Sank Centre.
Stearns County, Minnesota.
Attest:
........'
Clerk