The Sauk Centre herald., 1939-04-20
School Board Proceedings
MINUTES OF MEETING
April 9Th, 1889

MINUTES OF MEETING
April 9th, 1889
A Regular Meeting of all mem
bers of the Board Of Directors of
The Board of Education of the
Town Of Sauk Centre was held on
April 9Th, 1889, at 7:30 o'clock p.
NJ, all members being present as
follows: Julian F. Dubois, L. T.
Lovik, George Berggreen, r. E.
Cooper, ]. H. Hansen, and s. p.
Hansen. The following resolution
was then read and S. P. Hansen
moved its adoption, ]. H. Hansen
seconded the motion, and upon be-
ing put to vote, the motion was
carried by the unanimous favorable
vote Of all Directors. The said
resolution is as follows, to-wit:
RESOLUTION
BE 1T RESOLVED by the Board
of Directors of The Board of Edu-
cation of the Town of Sauk Centre
as follows:
THAT WHEREAS the Board of
Education of the Town of Sauk
Centre is issuing it's negotiable
bonds in the aggregate principal
sum of $4,000 pursuant to a re-
solution of it's Directors duly adopt
ed at meeting held on June 7th,
1888, for the purpose of obtaining
funds to move the Senior High
School Building and build a new
building and to remodel, repair, and
add to the present school building
and the furniture, apparatus, and
equipment of the District, and
which bonds were sold on March
31st, 1889, to The First National
Bank & Trust Company of Mime,
apolis, Minnesota, and
WHEREAS it has heretofore
been provided that said bonds be
issued bearing the date of January
1st, 1899,
NOW THEREFORE,, subject tc
the consent of the said purchaser
Of said bonds, the date of said
bonds is hereby changed and they
shall be issued and dated as of April
1st, 1889, and bearing interest from
said date, and shall otherwise be
in the same form and of the same
legal effect and upon the same
terms and conditions as has here,
tofore been provided.
The following resolution was
then read and Geo. Berggreen NOV.
ed that it be adopted and L. T.
Lovik seconded the motion which
upon being put to vote was carried
by the unanimous favorable vote
of all Directors and was thereupon
declared to be adopted. The reso-
luton is as follows:
RESOLUTION DESIGNATING
DEPOSITORIES
The Board of Directors Of The
Board of Education of the Town
of Sauk Centre does resolve:-
That in accordance with Section
1886 of the 1888 Sup. to Mason's
Minnesota Statutes, for period be-
gining at this time and terminating
May 1st, 1910, Merchants National
Bank of Sauk Centre, Minnesota,
and First State Bank of Sauk Gen.
tire, Minnesota, are respectively des-
ignated and selected as separate
repositories for any and all funds
and moneys of The Board Of Edu-
cation of the Town of Sauk Centre,
upon the following terms and con-
ditions, as to each of said deposit
ories, to-wit:
1. That said Bank shall furnish
bond or collateral security to secure
that part Of such deposits which
exceeds the amount thereof which
is secured by or through Federal
Deposit Insurance Corporation and
which part of said funds constitute
insured deposit liabilities" of such
Bank. The amount of such bond or
collateral shall at all times be not
less than the minimum required
by law.
2. That such Bank shall receive
and safely keep said moneys or
funds in a fund known as THE
Board of Education of the Town
of Sauk Centre" and /or in such
other accounts as the Board may
from time to time authorize, and
shall pay out and disburse the said
funds so deposited, without cost
or deduction, upon orders signed
by the President and Secretary OF
said Board of Directors and coun-
tersigned by the Treasurer thereof
3. The President and Secretary
are authorized to complete and de-
clare such designation, as required
The meeting was then adjourned
by law.
Geo. Berggreen, Secretary
z; ~ & ~ y 4 n ~ ~