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1934-05-01MinUtes of ~egUlar Meeting of Village ¢oun0il of the Village off Mound, Hennepin County, Minnesota Held l~ursuant to due call and notice thereof, a regular meeting of the Village Council of the Village of Mound, Hsnnepin County, Minnesota was duly held at the Council Room in the basement of the St'ate Bank of Mound in said Village on May 1 ., 19~4, at 8 o'clock P.M The following members were present: J. C. Krauee President F. ~ost, G. F. Broeckert,-C. L. Tuff, H. I. Horton. and the following were absent: none. MinUtes of the Last Regular and special meeting were read and on motion duly made and carried were approved as read. Member Broeckert introduced the following resolution and moved Its adoption: A RESOLUTION FIXING THE FORN AND DETAILS OF WATERWORKS'CERTIFICATES OF INDEBTEDNESS. BE IT RESOLVED bY the Village Council of the Village of Mound, Minnesota, as 1. Pursuant to authority conferred upon the Village Council by Chapter 4~$ I&ws of 19~1, the Village shall issue and sell $.41,000 Waterworks Certificates of Yndebtednese, to be 41 in number and numbered 1 to 41, both inclusive, in the denomination of $1000 eae~ to ~ear interest at the rate of 4 % per ann~, ~le eemiann~lly on the l~t days of March and SePtember in each year, and to mmtmre serially on March 1, $~000 in each of the years 1~35 to 1~$~, Both inc~ueive, and SZO00 tn 1~$4. ~. Said oerti~icatee ~he, ll be in substantially the followi~ United STATRS OF AMEBICA STATE OF MIN~SOTA COUNTY OF HENNEPIN VILLAGE OF MCUND ~ATERWORKS CERTIFICATE OF INDEBTEDNESS No...., ~1000 KNOW ALL MEN BY THESE PRESENTS that the Village of Mound in the County of Hennepin and State of ~.~i.nneeota hereby certifies that it is indebted and for. valUe received hereby promises to pay to bearer, or, if this certificate be registered, to the registered holder hereof, the sum of ONE THOUSAND DOLLAPS on the let day of March, 19.. , and to pay interest thereon from the date hereof until paid at %he rate Sf four (4) per cent per annUm, payable semiannually on the let days of March and September in each year, in accordance with and upon presen$- ation and surrender of the attched interest coupons as they severally become ~ue. Both principal and interest of this certificate of indebt- edness are payable at the office of the Village Treasurer, Mound, Minnesota, in such funds as are on the respective dates of payment_ legal tender for d$bts due the United States of America, and for the 242 prompt and full payment of said principa~ and intere~t, a.~ the came become due, the fu~! *aith, credit and re.~ouroe.~ o~' said Village have been and are hereby irrevocably w2~dged. Thi~ certificate of indebtedness i~ one of a cerise, a~l of like date and tenor except a~ to ~turitiee, and ie i~eued by the Village oureumnt to Chapter 42~ L~w~ of 1gE1 and mctm mmendatory thereoT and eupplement¢2 theretO, and i~ i~eued for the ~urpoee of defraying ~ pmrt o¢ the expenses incurred and to be incurred in the construction of a wate~orke and watermain inprovement in'said Village which ie more particular2y described in a resolution determining t~e nece.e~ity therefor adopted by the Vi!la~e Council on September E~, ~9~, and iea epeci~! obligation of the Villains p~yab!e primarily, as to~th principal and interest, .*rom a epeciA2 assessment frond coneleti~ o¢ a~eeemente ~evied r$~ e~id improvemenme, provided, how- ever, that the Village covenants and agrees that ~n event that the special ~e~e~ment f~d ie insu¢*icient to pay the principa~ of ~ interest on the certificates o¢ indebtedneee aa the came accrue and are payable tt will u~e any ~unde in the ~e~eury of ~id Village *or that p~rpoee. This certi¢ie~te ie subject to registration a~ to principal in the name o¢ tbs holder unon the books of the Village Treasurer o¢ said Vill~¢e, such regiet~tlon ~e~g-~noted hereon by ¢aid Village Treasurer aster which no transfer hereof except upon ~uoh books and ~imi~ar~y noted hereon ~h~21 be valid un2es~ the last registration shall bays been to bearer. ~egtetration o~ this certificate ~ha2~ mot ~,¢ect the ne¢otiabi~!ty o¢ the coupon~ hereto attached which ~ba1~ continue negotiable by delivery merely no~wltb~tandlng registration hereof. ~T ~ HM~.MBY CErTifIED AND ~ECIT~D that al~ acts, conditions, and things req~ired by the Constitution and 2awe o* the State of ~inne~ota to have been done, to have hapoened, and to hmve been per- ~o~med precedent to and in the i~euance o* thi~ certificate of ~ndebtedneee h~ve been done, have hapoened, and have been performed in reMu~ar and due ~orm, time, and manner, ae required by law; that prior to the i~uznce hereo~ ~ ~oecia2 a~e~ement h~e been duly ~evied uoon property abutting uoon the streets in which watermaine have been laid, uoon the ba~ie of bene~it~, in an amount sufficient to pay ml~ the certificates of thi~ i~eue and the interest thereon when and a~ the came bedome due, mud that this certificate of indebt- edness, together with all other indebtedness o* the Vil2age outstand- ing on ~he date hereo~, does not exceed any con~titutio~l or ~tat~tory l~mitation o* indebtedness. YN W~TN~S~ ~B~OF the Village Council cT the Vil2age of Mound, ~innemota, ha~e caused this certificate of indebtedness to be signed by the Wreeident o* the Village Council and countersigned by the Clerk mnd cea!ed with the o~ficial ~eal, and the interest coupon~ hereto attached to be executed and a~thenticated by the ~acemile ~ignature~ o* ~aid officer~, as o~ the l~t day of ~,arch, 19~4. P~eaident, Vile_age Council Countersigned: Villao~e"' Clerk 243 (Teem of 0oUpon) e0.°0 0~ the let day of ,,arch ('September), 19 , the Vllla~ of Mound, Minnesota, will pay ~o bea~er T~NTY DOLLARS In ~uoh fun~ ae ~e legal ten,er for debts due the-United States o~ Americ~ at the office o* tbs Village Treasurer, Mound, Minnesota, ~or interest then dHe on its W~terworke ~ertiotcate of lndebtetness a~te~ March 1, 19~4, President, Village Council Vl~qage ei'erk (Form-of Certificate to Be-endorsed on.the yack of each e.ertifieate This certificate of indebtedness is registered ae to principal only this ~b~ay of , 19 , and is payable only to such person as5,~gistratton appears to be 'the owner or the legal representative therof. Name of ~egistered Owner Village Treasurer Date of ~egistration Endorsement of Transfer Treasurer $..Said certificated shall be executed in behalf of the Village by the signature of the President of the Council and countersigned by the Clerk, and ~he corporate seal affixed, and the interest coupons shall be executeA and authenticated by the engraved or lithographed facsimile signatures of said officers; and the full faith, credit, and resources of said Village shall Be and they are hereby irrevocably pledged to the ~rompt and full payment of the principal and in~erest a~ the same Become due. 4. The eerticiates of indebtedness may be registered as to principa~ only at the option o* the purchases or holder at any time, ~rovided that said certificates shall *irst be delivered to the Village ?reasurer for registration. The Treasurer shall thereupon register said certificates by entering the number thereof and the ~a~e and address o* the registered holder in a bookt~to be kept for that prupose and designated the "Bond ~egister, and shall endorse on eaeh certi~ic&te the name of the registered owner and the fact and date of such regis- tration. Such certificates shall thereafter Be paid only to the. registered owner, and payment may be sent Be registered mail to s~ch owner at the last known address. ~egtstered certificates wh&ll be transferable only upon written order of the registered owner or by his attorney duSy authorized in writing and the entry of such transfer or~ the Bond ~egister, unless aid certificates Be transferred and regis- tered to bearer, in which case they shall thereafter Be transferable as unregistered bonds. ~egisSration shall not affect the payment of interest coupons, which shall be payable to bearer. Dated May let. , .... , 1934 Approved: j. c. ~rause Attest: H. I. Horton. Village Clerk ~resident, Village Council 2~.~ The Motion *or the adoption of the foregoing resolution wac duly seconded by ~ember Yo~_~t , and upon vote thereon the follo~,lng voted in *avor thereo*: ~6eokert, Yost,Tuff, and Horton, and the fol~owing voted against the ease: none. whereupon said resolution wa~ declared duly paso. ed and adopted: Member Yo.~t introduced the *ollowing resolution and moved its adoption: A ~E$OLUTION FIY~ING THE ~0~ AND DETAILS OF W.~TE~ORKS BON~$. BM IT MESOLVE_n BY the Village Council of the Village of Mound, !~innesota, as 1. Pursuant to authority conferred upon the Village Council by vote of the electors of .~&id Village at a specia~ election held Septembez 18, 19Z$, the Vi~la~e shal~ issue and ~ell $~0,000 Waterworks Bonds to be dated March l, ~954, to be ~0 in number and m~mbered ! to ~0, both inclusive, in the denomination of $1000 each, to bear interest at the rate of 4~ per annum oayable semiannually on the l~t days of ~arch and September in each year, and to mature serially on March l, $1000 in each of the years 1935 to ~9~4, both inclusive. Said bonds ~hall be in substantially the following form: UNITED STATES OF A~EFICA STAT~ OF MINNESOTA COUNTY OF HENNEPSN VILLAGE OF MOUND WA~E~WOMES BOND lOOO. ENOW ALL ~EN BY THESE PPESENT$ that the Village of Mound in the eounty of Hennepin and State of Minnesota acknowledges itself to be indebted and *or value received hereby promises to pay to bearer, or, ir th!s bond be registered, to the registered holder hereof, the sum of ONE THOUSAND DOLL~BS ON the 1st day o* watch, 19____, and to pay interes~ thereon ~rom the f.s~~e hereo~ un~il pa~.d at ~be ra~e o~ fOUr (4) per cent Der~annum, Fayable e~mi~nnualty on th~ l~t days of March and September in each year, in accordance ~tth and upon presentation and surrender of the ~.ttached interest coupons as they ~everal!y become due. Both ortaoloa~_ and interest are payable at the office of the Village Tre~_surer, !~ound, ~tnnesota, in such *unds as are on the respective dates of pay- ment legal tender for debts due the United States of America, and for the prompt and full payment of Drinctpa! and interest as the same become due the full .*aith, ~redit, and resources of said Village have been and are hereby irrevocably pledged. This bond i~ one of an issue bonds, all of like date and tenor exPeRt as to maturities, all i~eued by s&id Village for the prupose of providing money for the con~truot!on of a waterworks plant in said Village, and is issued p~:rsuant to a favorable vote of more than the requisite majority of the qualified voters of said Village voting on t~e question of such iss~e and a resolution duly and properly oae~es by t]~e Village Council, and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling. name of the holder upon the ~ooks of the Village Treasurer of $~id Village, such registration ~e~.~oted hereon by ~aid Village Treasurer, after which no transfer hereof, except upon e~ch books and similarly been ne~o%~btl~%y o~ %he coupons hereto ~%%~h~ which sh~11 ~on~nue negotiable b~ delivery merel~ notw~%hs%~nd~n~ re~e%r~on hereo~. IT IS HE,w, EN~ CEI~TIFIED AND RECITED That all actg, conditions, and things required by the Consti~ion and laws of the State of Mi~eeot~ to have beeh done, to have happened, and to have been perfo~ed pre- eeden~ to and in the issuance of this bond have been done, have happened, a~d have Been perfromed in re,ar and due form, time, and manner as required By law: that prior to the issuance hereof a direct, annul, ~rrepea~able, ad valorem tax has been duly levied upon all af the tax- able property within the territorial limits of said Village in the y~re and ~ounte sufficient to pay this bond and interest thereon ae the came Become due and five (~) per cent in excess thereof, and additional taxes may Be ~evted therefor within the limits prescribed be ]aw~ and that thi~ Bond, together with all other indebtedness said ~illage outstanding on the date hereo~ and the date of its actual issuance and de!~ve~, did not ex~eed any eonetitutio~l or statutory limitation of lndevtedneee. IN 'ITN~$$ ~H~,~OF the~Village Council of the Village of Mound, Minnesota, has caused this Bond to be executed in Beh~lf of said Village By the signature o* the ~resident of the Village Council, attested by the Village Clerk and countersigned by the Villase urea, and ~ea]ed with the co~porate seal, and the attached interest coupons to be executed and a~thenticated ~y the facsimile signatures Ce said ~reetdent and Clerk, as of the ]et day of March, 19~4. ~eSident, Village Counelx. Attest: Villag~ ~lerk. cunt ereigned: Village seal ) Treasurer. (Form of Coupon) Sso. o0 On the let day of Mareh (September), 19___, the Vil.~age of ~ound, ~inneeota, wil3 pay to ~earer TWENT~ 90X;LARS, in eueh fu~e ae are on the date of ~aymen~ leg~3 tender for de~te due the United States of America, at the office of the Village Treasurer, Mo~d, Minneeo~, for interest then d~3e on ~te W~te~orke ~ond dated ~areh 1, 1934, NO.. etdent, Village Oo~oil Attest: Village Clerk. (Form of 9ertificate to be endorsed on back ce each bond) This bond is registered a~ to principal only this day of , 19 ~, and is ..payable only to such .oereon as by registration appears$ to be the owner or the legal representative thereof. Name of Begt~tered Owner Village Treasurer. Date of Begistrat!on Endorsement of or Transfer Tr~urer $. Said bonds shall be executed in behalf of the Village by the ~ignature o* the nre.~ident o* the ~ouncil, attested by the Village ~ er~, and countersigned by the Village Treasurer, and the corporate ~eal a**ixed, and the interest oounon shall be executed and authenti- cated by the engraved or lithogra~hed ~acsimile ~ignaturea oe said president and ~.lerk: and the *ull faith, cred.~.t, and r~$ource~ of said V~llaEe shall be and they are hereby irrevocably oledged to the prompt a. nd full ~ayment of the orincioal and interest of maid bonds a~ the same beoo~e due. 4. The bonds may be registered a~ to prtncipa..l on?,y at the optitxn ce the o~rcha.~er or holder at any time, provided that said bonds shall *ir~t be delivered,to the Village Treasurer for registration. The Treasurer shall't.~ru~on register aaid bonds by entering the number thereof and the name and address o~ the registered holder in a boo~ to be keot for that purpose &~d designated the "Bond P. egister" and shall endorse on each bond the name o* ~he registered mail to ~uch o~,ner at the last Yno~n address. ~egistered bonds shall be transferable only upon written order o~' the registered owner or by his attorney duly authorized in ',,~iting and the entry of .~uch transect on the Bond l~egiSter, unle~ seid bonds be transferred snd r~gi~tered to bearer, in which case they shall thereafter be transferable a,~ unregistered bonds, l'.egis- tration ~hall net a~*ect tbs .,payment of interest coupon~, ~hich ,~hall be .oa~le to bearer. ~ated , 19Z4. ~esident, Village ~ounoll. ATTEST: Village Cler?. The motion for the adoption of the foregoing resolute, on ~a~ duly seconded by W~m~er Tu*f, and upon vote thereon the following voted in .*avor thereo~: Broeo~ert~ Yost Tuff and Morton, and the ~ollow~ng voted against the ~ame: none whereupon ~aid re~olution w~s declared duly passed and adopted. Wember BroecPert then introduced the *ollowing resolution and · oved it~ adoot~on; Uwm~4~ ~SOLVrn th e BE IT F -.~ ........ TW.~' C!er? be authori~ed and directed forthwith 2<t7 to ma~e ~eq~is!tion for the purchase of the amount of eertifie~-tee of indebtedness at ae early a date The mo$ton for' the adoption cC the foregoing reeoSution w~e ~1 seconded b~ ,,ember Yoet and upon vote thereon the following voted in *avor tbereof~ ~e0eekert, Y0et, Tufff, Hort0n, and the *oll~wing voted against the same: none -hereupon said reeo~utionwas declared duly. passed and adop~ad. Bills were read and on motion by Broeekert, seeonded by Yoet that Bills be ~aid, and cler~ draw warrant$ fe~ same. Oarried. The following bills were ~aid: Mildred ~rause ................... $~. 2~ H. I. Norton ..... 10. O0 ~eo. Oole ....................... 7~. O0 Miller ~avie ~o.. .......... .... 8. 19 Watertown Tel. '0o ................ ~. O~ Ebenezer Home Society ........... . 4~. O0 ~d. Oil Station .................. 15. ~0 Interstate Power ~o .............. 111. §0 l~ondorf Motor Oo ................. 7. 94 State Bank ........................ 10. O0 ~oehler & Oo ................... . H. Voegeli ....................... No further business appearing on ~.iotion meeting was adjourned. Village Olerk.