Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1937-05-06

AuulIOr Is QereDy auCQOrlZeQ ana
directed to levy upon all taxable
property in the state in the same
manner in which other state taxes
are levied the sum of $1,700,000 for
the taxable year 1887 and 100000
for the taxable year 1888, and to
levy and collect annually such adj
ditional sum as may be needed to
meet the interest on the certifi-
Gates OF Indebtedness hereinafter
authorized. The sum so levied and
collected shall be placed to the
credit Of the fund known as the
Minnesota Public Relief Fund"
created pursuant to the provisions
OF said Chapter 101, Extra Session
Laws 1935-1936. Pending the levy
and collection of said taxes the
Executive Council is hereby author
lied and empowered to issue and
sell, at not less than par, as funds
are needed for the purposes of this
act, certificates Of indebtedness of
the state in an aggregate amount
not exceeding 30 per cent of the
total taxes so to be levied, eX-
elusive of those to be levied for
the payment of interest, which
certificates shall be known as Min
nesota Public Relief Certificates,
shall be numbered consecutively.
and shall be in such form and
denomination, with or without in
terest coupons, mature at such time
not exceeding three years from the
date thereof, bear such rate of
interest not exceeding three per
cent per annum, payable semi
annually, and be a charge upon and
lien against the taxes herein au-
thorized to be levied to such extent
and with such priority as the Ex-
ecutive Council shall determine.
Such certificates shall be signed
by the state treasurer and attested
by the state auditor under their
respective official seals and the
auditor and treasurer shall keep
due record thereof. The proceeds
Of the sale Of such certificates
shall be credited to said Minnesota
Public Relief Fund and said GER
tificates and the interest thereon
shall be payable from said fund;
provided that such interest as may
become due upon said certificates
prior to the collection of sufficient
taxes to meet the same shall be
paid out of the revenue fund and
the amount necessary to pay such
interest is hereby appropriated.
Section 4. The state board of in
vestment is hereby authorized to
invest the state trust funds in said
tax levy certificates and said state
investment board is hereby author
lied to purchase said certificates
Of Indebtedness at the rate of not
less than three per cent interest
in such sums and amounts as said
state investment board may, from
time to time, have available funds
for that purpose and said state in
vestment board, for this purpose is
authorized to purchase said Ger
tificates Of Indebtedness at a rate
Of interest Of three per cent, any
law to the contrary notwithstand-
ing.
Section 5. Out Of the moneys ap-
propriated by this act the sum Of
SOS, 900 or so much thereof as may
be necessary is to be used by the
authorities distributing aid to care
for fire sufferers in that part of
st. Louis County, Minnesota, known
as Palo-Markham, which sum Is
to be distributed and used for the
purpose of furnishing materials to
rebuild structures destroyed by fire
in 1896 and for such other pur-
poses as may to said authorities
seem just and proper.
Approved April IA, 1887.