The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1938-08-18
SCHOOL BOARD MEETING

ING OF SCHOOL BOARD OF IN
DEPENDENT SCHOOL DISTRICT
- NO. I OF REDWOOD COUNTY,
MINNESOTA, HELD AUGUST IS,
Z 1898. T.!
Z Pursuant to due call and notice
thereof, a special meeting of the,
School Board of Independent School
District No. / of Redwood County,
Minnesota, was held at the School
House at Redwood Falls in said Dis
trict on the 18th day. of August 1885,
at 1880 o'clock p. m. +
The following members were pre-
sent: A. Asleson, G. A. Hillig, Parker
d. Sanders. Mrs. C. A. .Lauterbach,
L.. A. Cheney, and G. n. Nelson
superintendent Reede Gray was also
in attendance and the following were
absent: none
The Clerk of the District present.
ed to the Board a certified list of
the outstanding valid bonded indebt-
edness of the, District. After due con-
sideration of this list and of the var
ious iEems thereon, Member Mrs.
Lautefbach introduced the following
sres9l1tion and moved it's adoption: 8
'NvREsoLuTfoN PROVIDING FOR
THE ISSUANCE OF REFUNDiNG
BONDS UNDER THE PROVIS-
7 IONS OF CHATTER sa1 LAWS OF
1927 AS AMENDED.
BE IT RESOLVED by the School
Board of Independent School District
No of Redwood County, Minnesota,
as follows:
l. This Board has investigated the
necessary facts in order to ascertain,
and does hereby find, determine, and
declare, that Independent School
District No. | of Redwood County,
Minnesota, has outstanding bonded
Indebtedness in the amount of $780,
600, and that the assessed valuation
of all taxable property in the District,
exclusive of money and credits, as
last finally equalized for the purpose
of taxation, tOwit. for the year 1891,
is $1,G5S,127, and that said District is
authorized to refund it's outstanding
valid bonded Indebtedness pursuant
to the provisions of Chapter 331 Laws
of 1927. as amended.
2. The Indebtedness to be refunded
consists of outstanding valid bonds
dated January /, 1924, due January /,
1889, in the amount of $4,000, as
fully set forth and described in a list
thereof made and certified by the
presiding and recording officers and
the treasurer of the District, which
list is now on file and open to public
inspection in the office of the Clerk
of said District.
g. This Board deems it necessary
and eXpedient to issue the negotiable
coupon Refunding Bonds of the Dis
trict in the amount of $l25.000 for
the purpose of taking up, paying, and
retiring a like amount of the valid
outstanding Indebtedness of the Dis
trict as described in said list.
4. The Refunding Bonds to be is
sued hereunder shall be 125 in num-
Der. in the denomination of $1,000
each. dated October Is, 1888, bearing
interest payable semiannually on the
1st days of January and July in each
year, commencing July 1, 1889, and
maturing serially on January l in the
years and amounts as follows: $4,000
in 1910: none in 1871; $1,000 in 1912 to
1914; $1,000 in 1915 to 1947: $11 200 in
1913: and $4,000 in 1919 to 1852; all
bonds maturing after January l, 1949,
being subject to prior payment and
redemption January !, 1919, and any
interest payment date thereafter up
on thirty days prior notice to the
bank where said bonds are payable.
1t is expressly found and determined
that said bonds mature in accordance
with the provisions of Chapter 331
Laws of 1927 Section 4, as amended,
and the maturities of Indebtedness
not refunded has been considered in
determining the maturities of said
bonds.
5. Said bonds shall be advertised for
sale in accordance with Section 1913,
Mason'S Minnesota Statutes 1927, as
amended, and if no cash bids shall be
received for said bonds the same
shall be sold by public subscription
from time to time, and the holders
of the outstandiig Indebtedness to be
refunded by such issue shall be en-
titled to use and apply the same and
any interest or other items legally
accrued thereon in payment in whole
or in part for such bonds.
6. This resolution shall be publish
ed in one issue of the Redwood Gaz-
cite, legal newspaper published at
Redwood Falls, Minnesota, and proof
of such publication shall be filed in
the office of the Clerk The said
resolution shall not be submitted to
the legal voters of the District unless
a petition requesting such election
shall be filed with the Clerk within
ten DAYS after the publication of this
resolution.
Adopted August Is. 1898.
Approved: A. ASLESON,
Chairman
Clerk
The motion for the adoption of the
foregoing resolution was duly second
ed by Member L. A. Cheney, and up
on vote being taken thereon tie fol-
lowing voted in favor thereof: Asle-
son, Hillig, Sanders, Lauterbach.
Cheney and Nelson and the following
voted against the same: NONE
whereupon said resolution was de-
clared duly passed and adopted.
State of Minnesota, County of Red
wood IS.
l. the undersigned, the duly quail
flied and acting Clerk Of Independent