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

gate total sum Of $50, 900, in such de-
nominations and in such amounts as
such governing body may determine
by ordinance; and to appropriate
the proceeds from the sale of such
bonds for the sole and specific pur-
pose of financing, aiding in the
financing Of, or paying for the cost
Of such portion Of any public i'm
provement Of any such city, in any
case where such financing, aiding in
the financing of, or paying for the
cost Of any such public improvement
has been or will be made necessary
as the result Of action taken or
which may be taken by any such
governing body in applying for
grants or loans and/or loans and
grants made by or under the au-
thority Of any such governing body
under any application to the United
States Of America and/or the State
Of Minnesota for any public work,
public undertaking or public project
through the Federal Emergency Adj
ministrator of Public Works, and/or
to any agency Of this State or Of
the United States for the purpose Of
financing. aiding in the financing
Of, or paying for any such work,
undertaking, project, and/or other
unemployment relief program pro-
posed or adopted by such governing
body Of any such city, except that
none Of the proceeds from the sale
or sales Of the bonds authorized by
this Act shall be used in financing or
aiding in the financing Of any SELF
iquidating project as, or which may
be approved or which has been ap-
proved by any Federal or State
agency; provided, that the proceeds
of such bonds may be used by any
such city to pay any obligation here
tofore incurred by any such city on
account Of, or in connection with,
any unemployment relief project, ex-
cept any elf-liquidating project.
Section 2. BONDS - INTEREST,
ETC.-That the governing body of
any such city may, by resolution,
authorize and direct the proper Of
ficer or officers Of any such city to
deliver any Of such bonds, when is
sued under the terms of this act:
and such bonds may be issued, sold
and negotiated by any such city not
withstanding any limitation con-
tanned in the charter Of such city,
or in any statute of this state pre-
scribing or fixing any limit upon
the bonded indebtedness Of any such
city; but the full faith and credit Of
any such city shall at all times be
irrevocably pledged for the payment
of such bonds and for the payment
Of current interest thereon; and the
governing body Of any such city
shall, before the issuance Of any
such bonds, fix and determine, by
ordinance, the amount Of the tax
to be levied in each year sufficient
for the payment Of the interest as
it accrues upon any Of such bonds,
and for the accumulation Of sink
ing fund for the redemption Of such
bonds at maturity, such sinking fund
to be kept distinct and apart from
all other funds Of any such city and
to be known as Unemployment
Projects Fund"
Section 3. RATE OF INTEREST.
That such bonds shall bear in
tereSt at rate not exceeding six
per cent per annum, and shall be
payable serially in annual INSTALL
ments as determined by the gov
erning body Of any such city, the
first installment thereof to become
due and payable in not more than
five years from the date Of such
bonds, and the last installment
thereof to become due and payable
in not more than twenty years after
the date OF such bonds.
Section 4. ISSUANCE OF BONDS
That except as otherwise specifically
provided by this act, such bonds
shall be controlled as to procedure
in all other respects by the terms of
Laws 1927, Chapter 131.
Section S. TO BE CONSTRUED
LITERALLY the terms of
this Act shall be literally construed
in order to make effective its purposes
in any proceeding, action or suit
wherein the reasonableness or valid
ity Of this act may or shall be chal-
lenged.
Section 8. PROVISIONS TO BE
SEVERABLE.-That the terms and
provisions Of this act are hereby de-
clared to be separable. and that If
any part or provision of this act
shall be declared unconstitutional by
any court Of competent Jurisdiction,
such judicial declaration shall not
affect or invalidate any other part
or provision of this act.
Section Z. ARE ADDITIONAL
POWERS.-That the powers granted
in and by this act are in addition to
all existing powers Of any such city,
and this act shall apply to such cit
les as now are, or hereafter may be,
governed by a charter adopted pur-
suant to the Constitution of the
State Of Minnesota, Article 4, Sec
ton SO.
Section 8. CONSTRUCTION OF
ACT-That nothing contained in
this act shall be construed to repeal
or modify the provisions Of any
charter Of any city adopted under
and pursuant to the Constitution of
the State Of Minnesota. Article 4,
Section SO, requiring any ordinance
Of any such city to be subject to
the right Of referendum secured to
the electors Of any such city by the
charter thereof.
Section 9. ACT ADDITIONAL TO
EXISTING BOND AUTHORITY
That this act shall be construed to
confer authority to issue bonds, as
aforesaid, in addition to the authori-
ty to issue bonds contained in Extra
Session Laws of Minnesota, for the
year 1886, Chapter A, approved