Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1939-05-18
PROCEEDINGS OF
COUNTY BOARD

COUNTY BOAkD
Extract Of Minutes of Meeting Of the
Board Of County Commissioners
of Pine County, Minnesota
May 4. 1889
Pursuant to adjournment . regular
meeting Of the Board Of County Com
missioners of Pine County. Minnesota.
Room in the Courthouse at Pine City.
on the 4th day of May. 1889. at ten
o'clock A. NJ
The following members were pres
emit: c. A. Pearson. w. G. Ausmus. ].
S. Patrick. e. B. Greenwald and Oscar
none.
Bids for the purchase of $4,000 Ser
les A Funding Bonds Of said County
In accordance with the resolution Of the
were received. Bidders present were
then given an opportunity to present
oral auction bids.
The highest and best bid Of each
bidder was found to be as follows:
Name Of Bidder
First National Bank Of Pine City and
Interest Rate Amt. of Bid
$3.50 Far
and a premium Of $25O.O0
Commissioner J. s. Patrick introduce
ed the following resolution and moved
BE If RESOLVED by the Board of
County Commissioners Of Pine County.
Minnesota that the bid Of First Ma
tional Bank of Pine City and associates
Bonds Of the said County is hereby ac-
cepted, said bid being to purchase said
bonds bearing interest at 800 per an
mum payable semiannually. at the rate
of par and accrued interest and a pre-
MUM Of $4,000.
BE 1T FURTHER RESOLVED. that
said bonds be made payable at Min
neapolis. Mimi, in accordance with the
request of said bidder.
The motion for the adoption Of the
foregoing resolution was duly seconded
by Commissioner c. A. Pearson and
upon vote thereon the following voted
In favor thereof: c. A. Pearson. w. G.
Ausmus. j. S. Patrick. E. B. Green
valid and Oscar Eklund and the fol-
lowing voted against the same: none.
whereupon said resolution was declar-
cd duly passed and adopted.
Commissioner ]. S. Patrick intro
duced the following resolution and
moved its adoption:
BE IE RESOLVED by the Board of
County Commissioners Of Pine County.
Minnesota. as follows:
l. The $4,000 Funding Bonds Series
A and Series Of the County shall
be $50 In number and numbered l to
$50. both inclusive. each in the denom-
nation Of $1,000. said bonds Nos. l to
80 to be Series A and said Bonds Nos.
81 to $50 to be Series B. the bonds
of each series shall be dated April /,
1889, and shall mature serially on APP
ril l in the years and amounts as fol-
lows: 5000 in 1914 to 1882 both in
elusive. and $4,000 in 1853 and 1854. All
said bonds shall be payable at First
National Bank and Trust Company,
Minneapolis. Minnesota.
2 The bonds and the coupons thereto
attached shall be in substantially the
following form:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF PINE
FUNDING BOND
SERIES A
KNOW ALL MEN BY THESE PRES
ENTS that Pine County. Minnesota.
hereby acknowledges itself to be in
debted, and for value received promises
to pay to bearer on the LIST day of
April. 1914. without option Of prior
DOLLARS, and to pay interest there
on from the date hereof until paid at
the rate Of three and three fourths
t3A) per cent per annum. payable Sc
miannually on the LIST days Of April
and October in each year. In accord
ance with and upon presentation and
surrender of the interest coupons here
to attached as they severally become
payable at First National Bank and
Trust Company OF Minneapolis, Min
nesota, in lawful money of the United
States Of America. and for the prompt
and full payment Of such principal and
interest as the same become due. the
full faith, credit, and taxing powers of
the District have been anr are hereby
trrevocably pledged.
This bond Is one Of an issue of
bonds in the aggregate principal a.
tenor except as to maturity. all issued
by said County for the purpose Of
funding and paying the outstanding
warrant indebtedness of the County,
and is issued pursuant to resolution
of the Board of County commissioners
and pursuant to and in full conformity
with the Constitution and laws Of the
State of Minnesota thereunto enabling.
1T IS HEREBY CERTIFIED AND
RECITED that all acts, conditions, and
things required by the Constitution and
laws of the State of Minnesota to be
done. to happen, and to be performed
precedent to and in the issuance of
this bond have been done. have hap
regular and due form. time, and man
ner as required by law; that prior to
the issuance hereof direct, annual ir-
repealable, ad valorem tax has been du-
ly levied upon all Of the taxable prop
erty in said County in the years and
amounts as required by law. and ad-
ditional taxes may be levied on all of
said property within the limitations pre-
scribed by law. and that this bond. to-
gether with all other Indebtedness out
standing on the date hereof, did not
exceed any constitutional or statutory
Limitation Of Indebtedness.
IN WITNESS WHEREOF Pine Coun-
ty. Minnesota. by its Board of County
Commissioners, has caused this bond
to be executed in its behalf by the
signature of the Chairman of the Board.
countersigned by the County Treasur-
er, and attested by the County Audi
tor under his official seal, and has
caused the attached interest coupons
to be executed and authenticated by the
facsimile signatures of said chairman
and County Auitor. all as Of April l,
1899.
E. B. GREENWALD.
Chairman Of Board Of
County Commissioners
Countersigned: F: POFERL.
Attest: ]. E. THERRIEN
County Auditor
Form of Coupon)
On the 1st day of April (October).
1914, Pine County, Minnesota will pay
to bearer at First National Bank and
Trust Company, Minneapolis. Minnesota,
Eighteen and 75/1O0 (S18.75--Dollars
for the interest then due on it's Fund
ing Bond, Series A, Dated April 1. 1889.
No. one.
E. B. GREENWALD,
Chairman of Board Of
County Commissioners
J. e. TH$RRIEN.
County Auditor
g. Said bonds shall be prepared un-
der the direction Of the County Audi
tor, and when SO prepared shall be ex-
ecuted On behalf Of the County by the
signature of the Chairman Of the Board
of County Commissioners. countersign-