The Sauk Centre herald., 1938-12-22
Thursday. December 22, 1888

luuISuay, OcCcAIIOcI HAs 1000
upon vote being taken thereon the
following voted Aye: Eckberg. Bess-
er, Miller and Kettlewell, and the
following voted Nay: None.
Whereupon said resolution was
declared duly passed and adopted. =
Alderman Besser introduced and
read the following written resolu-
tion and moved its adoption:
RESOLUTION
BE 1T RESOLVED BY the City
Council Of Sauk Centre, Minnesota,
as follows:
1. It is hereby determined that
the total cost Of Local Improvement
No. IL is the sum Of $35,065.32, and
that the cost thereof to the City
after deducting the anticipated
grant from the Federal Emergency
Administration Of Public Works is
determined to be the sum Of $4,000.
2. That the City Council has de-
termined and hereby resolves that
the entire cost of said improvement
shall be paid by special assessment
against the benefited property, to
be paid in equal annual INSTALL
ments to be levied in each Of the
years 1889 and 1943, both inclusive,
and collectible with taxes levied
during said years and collectible
during the following years.
8. That in order to provide for
the payment of the cost Of said i'm
provement there is hereby created
a special fund to be known as Fund
Of Local Improvement No. IL, into
which fund shall be paid all moneys
received from taxes and assess
ments levied for said improvement
from the grant of the Federal
Emergency administrator Of Pub
lie Works and from the sale of Ger
tificates Of Indebtedness as herein
after provided, and out of which
shall be paid the entire cost Of said
improvement and the principal of
and interest on the said Certificates
of Indebtedness when and as the
said amounts become due.
A. That in anticipation Of the col
lection of special assessments to
be hereafter levied, it is hereby de-
termined to sell the negotiable cou-
pom Street Improvement Certifi-
| Gates of Indebtedness on account of
Local Improvement No. IL in the
aggregate principal amount of
$4,000, said Certificates Of Indebt-
edness to be 20 in number and num-
bered from to 20, both inclusive,
in the denomination of $1,000 each,
dated January 1, 1889, bearing in
terest at the rate designated by the
successful bidder, of $4,000 in each
of the years 1941 to 1915, both in
clusive.-.
5. The City Council shall meet at
the office Of the City Clerk for the
purpose Of considering bids for
said Certificates of Indebtedness on
Thursday, the 10Th day of Decem-
ber, 1888, at 4 o'clock p. NJ, and the
City Clerk is hereby authorized and
directed to cause notice of the sale
Of said Certificates of Indebtedness
to be given by publication in the
official newspaper Of the City for
2 weeks Of a notice in substantial
ly the following form:
NOTICE OF SALE
NOTICE is hereby given that the
City Council of the City of Sauk
Centre, Minnesota, will meet at the
office Of the City Clerk in said City
on Thursday, the 10Th day of Dec
ember, 1888, at 4 o'clock p. NJ, for
the purpose Of opening, receiving
and considering bids for the pur-
chase Of $4,000 Street Improve
ments Certificates of Indebtedness
on account Of Local Improvement
No. IL. Said Certificates Of In
1, 1889, and will be 20 in number
in the denomination Of $1,000 each,
bearing interest at the rate desig-
mated by the successful bidder, pay
able semiannually and will mature
serially on January 1 in the amount
Of $4,000 in each of the years 1941
to 1945, both inclusive. Said Ger
! tificates Of Indebtedness will be
general obligations Of the City of
Sauk Centre. The City will furn-
ish the printed Certificates Of In
debtedness and the approving legal
opinion Of Messrs. Junell, Fletcher,
Dorsey, Barker & Colman of Min
neapolis, Minnesota, and L. L.
Kells Of Sauk Centre, Minnesota,
both without cost to the purchaser.
Said bonds will be delivered on or
before January Is at the office Of
the City Clerk, Sauk Centre, Min
nesota, or at the option of the pur-
chaser at his or its office in the
City of Minneapolis or st. Paul.
Sealed bids may be mailed to the
undersigned and oral auction bids
will be received at the meeting.
All bids must be unconditional and
accompanied by a certified check
or bank draft in the amount of at
least $500, to be forfeited as liq-
Undated damages in the event the
bid is accepted and the bidder fails
to comply Herewith. No bid for
less than par and accrued interest
will be considered and the City
reserves the right to reject any and
all bids and to adjourn the sale II
deemed expedient.
BY Order Of the City Council.
J. A. SCIOENHOFF,
City Clerk.
6. Each of the terms and provis-
ions Of the foregoing notice are
hereby adopted as to form and the
terms and provisions of said sale