1953-09-29:,1'432
VILLAGE OF MOUND
MINUTES OF THE ADJOURNED REGULAR MEETING, Sept. 29, 1953
Meeting called to order at 8:00 P.M. at the Village Hall.
Present were Mayor Behmler, Trustees Pierce, Livingston, Litts and
Wenkstern and Manager Leikvold.
P.I.R. FUND
The P.I.R. Fund and the 1954 Budget were discussed. Mr.
Livingston said that he would like to have more time to study the
legality of abolishing the P.I.R. Fund.
On Motion duly made, seconded and carried, the meeting ad-
Journed at 9:00 P.M. to reconvene October l, 1953 at 8:0~ P.M.
at the Village Hall.
Village ~ager r
MINUTES OF THE ADJOURNED REGULAR MEETING, October 1, 1953
Meeting called to order at 8:00 P.M. at the Village Hall.
Present were Mayor Behmler, Trustees Pierce, Livingston, Lltts,
and Wenkstern, Manager Leikvold and Attorney Bonham.
P.I.R. FUND ~
There was considerable discussion on the legality of abolish-
ing the P.I.R. Fund.
M~..Litts offered the following resolution and moved its~
?n.
WHEREA~ on August 10, 1948, a resolution creating a Permanent
Improvement Revolving Fund and Providing for the Issuance of Bonds
to ~reate and Maintain Said Fund Was duly adopted, and,
WHEREAS, on September 7, 1948, a Resolution Fixing The Form
and Details of Sixty-three Thousand and No/lO0 ($63,000.00)
Dollars Permanent Improvement Revolving Fund Bonds, Relating to
Their Execution and Delivery, And Providing Funds For Their
Payment, was duly adopted, wherein there was levied a direct
annual ad valorem tax for the years 1948 to 1962, both inclusive,
each of which levies were irrepealable except that the Village~
reserved the right to cancel said levies in the manner and to
extent permitted by Minnesota Statutes Annotated, Section 475.26~
and,
WHEREAS, said Minnesota Statutes Annotated, Section 475.26