03-01-1948 VCM Extract of Minutes
Extract of Minutes of Meeting of the
VILLAGE OF ELK RIVER COUNCIL MEETING
March 1, 1948
Pursuant to due call and notice thereof, a Regular meeting of the Village Council of the Village of
Elk River, Minnesota, was held at the Municipal Building in said Village on Mar 1, 1948, at 8 o’clock
P.M.
The following members were present:
Mayor Odegard, Trustees Bailey, Ellingson, Leger, Clerk Briggs
And the following were absent:
None
Member Leger introduced the following resolution and moved its adoption:
RESOLUTION AMENDING RESOLUTION OF FEBRUARY 2, 1948, PROVIDING FOR
THE ISSUANCE AND SALE OF $25,000 ELECTRIC LIGHT AND POWER PLANT AND
SYSTEM REVENUE CERTIFICATES, SERIES OF 1948
BE IT RESOLVED by the Village Council of the Village of Elk River, Minnesota that subparagraph
(b) of paragraph 6 of the resolution adopted by the Council at its regular meeting on February 2,
1948, entitled “Resolution Providing for the Issuance and Sale of $25,000 Electric Light and Power
Plant System Revenue Certificates, Series of 1948” be and it is hereby amended to read as follows:
6.(b) Each month, after payment of reasonable and necessary expenses of operation, repairs and
maintenance and after credit of required amounts to the Interest and Sinking Account for the 1947
certificates, there shall be credited to the Series of 1948 Interest and Sinking Account an amount
equal to one-twelfth of the amount required to pay principal and interest due on the 1948 certificates
in the twelve months’ period then next ensuing, and said account shall be used solely to pay such
principal and interest.
O.A. Odegard, President, Village Council
Attest: H.A. Briggs, Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by Member Bailey, and
upon vote being taken thereon the following vote YEA:
Bailey, Ellingson, Leger, Briggs
And the following voted NAY: none
Whereupon said resolution was declared duly passed and adopted and was approved and signed by
the President which was attested by the Clerk.
STATE OF MINNESOTA
COUNTY OF SHERBURNE
I, the undersigned, being the duly qualified and acting Clerk of the Village of Elk River, Minnesota,
do hereby certify that the foregoing is a full, true and correct transcript of the original minutes of a
meeting of the Village Council of said Village duly called and held on the date therein indicated, so
far as such minutes relate to the issuance and sale of $25,000 Electric Light and Power Plant and
System Revenue Certificates, Series of 1948, of said Village.
st
WITNESS my hand and the seal of said Village this 1 day of March, 1948.
H.A. Briggs, Village Clerk
(Seal)