Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1939-05-04

WHEREAS the Board Of County
Commissioners is authorized under and
Is. Session Laws of 1889. to issue. ne
gotiate. and sell the negotiable coupon
bonds Of the County for the purpose
of funding the valid outstanding war
rant Indebtedness existing as Of jan
uary /. 1889; and
WHEREAS Funding Bonds may be
ISSUED to effect considerable saving
to the County in interest cost. and to
arrange for an orderly payment ana
retirement of the existing Indebtedness.
NOW, THEREFORE, BE 1T RE-
SOLVED by the Board of County Com
missioners of Pine County. Minnesota,
as follows:
1. 1t Is necessary and expedient, and
1t is hereby determined to issue the
negotiable coupon Funding Bonds of
Fine County in the amount Of $4,000
Tor the purpose Of providing money to
fund and pay the entire amount of the
Indebtedness Of the county which con-
sists OF warrants issued against the
general revenue fund, and the County
road and bridge fund. representing in
debtedneSS existing as of January /,
1889. together with interest on said war
rants.
2. Upon the adoption of this resolu-
ton the County Auditor shall prepare
and file in his office list Of the war
rants to be funded hereunder, with
sufficient details to identify the obii-
cations referred to. and shall cause to
be published in one issue Of the official
newspaper OF the county notice of
the filing of such list, which may be
IN substantially the following form:
NOTICE OF FILING OF LIST
NOTICE is hereby given that the
Board of County Commissioners of Pine
County, Minnesota by resolution duly
adopted and recorded. has determined
that 1t is necessary and expedient to
fund certain warrant indebtedness OF
to be funded has been filed in my Of
flee and is now open for public inspec-
eion. and the validity or enforceability
of any item of Indebtedness so listed
shall never be questioned in any action
or proceeding unless the same shall be
commenced prior to date twenty days
after the publication Of this notice.
BY order of the Board of County
Commissioners.
County Auditor
8. The funding bonds which are to
be issued hereunder shall be dated
April l, 1889, and shall be in the total
sist of two series. denominated Series
A and Series B, each in the respective
amount of $4,000 and the bonds of
each Series shall mature serially on
April l in the amount Of $4,000 in each
of the years 1914 to 1852. both inclus-
i've, and 5000 in 1853 and 1854. The
Series A Bonds shall bear interest at
the rate designated by the successful
bidder as hereinafter provided. The
Series B Bonds shall bear. interest at
the rate of 1870. All interest shall
be payable semiannually on the LIST
days OF April and October in each year
in accordance with the interest coupons
to be attached to the several bonds.
4. The County Auditor and County
Treasurer are hereby authorized and
directed to make application to the
State Board of Investment of the State
of Minnesota for the purchase of the
Series B bonds to be issued hereunder
and they shall furnish to the said
Board such certified copies and certif-
icates, and other evidence and infor-
nation. as may be required in con-
nection with such application and the
sale and delivery of said bonds.
5. The Series A Bonds shall be sold
at public sale to the highest bidder for
cash in accordance with law, and the
County Auditor shall cause notice of
in the official newspaper for two weeks
of notice in substantially the follow
ing form:
NOTICE OF BOND SALE
NOTICE is hereby given that the
Board Of County Commissioners of Pine
County. Minnesota, will meet at the
House at Pine City. Minnesota, on
Thursday the 4th day of May 1889. eft
10 o'clock A. M. for the purpose of
opening. receiving and considering bids
for the purchase of $4,000 Series A
dated April l. 1889 and to be in the
denomination of $1,000 each to bear
interest at the rate designated by the
successful bidder, payable semiannually
m tnn
the amount of 5000 in each of the
years 1914 to 1852, both inclusive. and
$1,000 in 1853 and 1854.
Both principal and interest will be
made payable at any suitable bank or
trust company designated by the sue
cessful bidder. The county will fur
proving legal opinion Of Messrs. FLEET
cher. Dorsey, Barker. Colman & Bar
Der, Of Minneapolis, Minnesota, with
out cost to the purchaser. All bids
shall be unconditional and accompan-
led by certified check in the amount
Of $1,000 payable to the order of the
County to be forfeited as liquidated
damages in case the bid is accepted
and the bidder shall fail to comply
to the undersigned and oral auction
bids will be received at said time and
place.
The County reserves the right to re-
ject any and all bids and to continue
the sale if deemed expedient, and also
sell any or all of such bonds by public
subscription In accordance with law.
The County undertakes to deliver the
executed bonds to the successful pur-
chaser at the office Of the County
Auditor at Pine City. or at the option
Of the purchaser at a suitable place in
Minneapolis or Saint Paul not later
than Is days after the date Of sucn
sale.
Dated April 10. 1899.
j. e. Therrien. County Auditor.
g. The Board Of County Commission
,ers shall meet at the Commissioners
Room in the Court House at Pine City.
Minnesota, on Thursday the 4th day
of May, 1889, for the purpose of re-
-ceiving and considering said bids, and
taking such further action in reference
to the issue Of said bonds as shall be
required
The motion for the adoption Of the
foregoing resolution was duly seconded
by Commissioner Eklund and upon vote
being taken thereon the following voted
in favor thereof:
c. A. Pearson, Aye.
w. G. Ausmus, Aye.
]. S. Patrick, Aye.
e. B. Greenwald, Aye.
Oscar Eklund, Aye.
And the following voted against the
same:
None.
Whereupon said resolution was declared
duly passed and adopted.
Commissioner Ausmus offered a reso-
luton requesting 5000 Extra State Aid
to reconstruct part Of State Aid Road