09-10-1945 VCM
REGULAR MEETING VILLAGE OF ELK RIVER COUNCIL MEETING
September10, 1945
Regular meeting of the Elk River Village Council was held at the municipal building on September
10, 1945.
This meeting was postponed from Sept. 3. That date being Labor Day, a holiday. The meeting was
called to order by Trustee Leger in the absence of Mayor Davidson. All other members present.
The minutes of the last meeting were read and approved.
Member of the Fire Department met with the Council about a refund of money received by the
Village which was intended for the Fire Department Relief Association. The Clerk was instructed to
transfer the proper amounts to the Fire Department.
The following bills were approved and ordered paid:
Otto Lerban – Painting Flag Pole $15.00
H.S. Athletic Assn – Band Director $350.00
Joyce Wilson – Life Guard #70.00
Charles N. Nelson – Salary and Car $182.50
H.A. Briggs – Salary $55.00
J.H. Daly – Salary $16.66
John Bither – Flag Committee $5.00
Elec. App. Sales - Wiring Siren $108.55
Rupert Zimmer – Street Work $93.00
William Belanger – Street Work $45.00
N.W. Bell Telephone Co. – Aug. $18.15
E.R. Power and Light – Aug. Lights $197.11
E.R. Power and Light – Aug. Power $63.30
Richard Halter – Labor-Water Dept. $28.00
Star News – Publishing $36.00
Harold Keays – Park Work $20.00
Elmer Leger – Elec. Light Expense $6.00
Zella M. Page – Library Books $26.19
Zella M. Page – Janitor Work $7.50
Fire Department – Johnson Fire $11.00
Merle Michean – Street Work $20.40
Nickerson Bros. – Services $23.00
V.B. Skellenger – Elec. Light Expense $6.00
Improvement Bulletin – Adv. $39.60
G.A. Johnson – Windwill Tower $50.00
Zella M. Page – Salary $30.00
Minn. Fire Eq. Co. – Mdse $16.99
Leger Truck Line – Frt. $10.73
Bernard Zimmer – Street Work $22.00
Richard Dreissig – Salary $85.50
Barbara Salzmann – Salary $108.00
Fred Vassor – Ice $12.00
John Vicha – Salary $187.50
Marley McPherson – Salary $150.00
Helen McPherson - Extra Work $6.00
N.W. Bell Telephone Co. – Aug. $4.58
E.R. Power and Light – Aug. $36.51
American Linen Co. – Laundry $9.63
Universal Accounting Co. – Services $15.00
Grover Malrupe – Guard at L. Store $168.00
Steve Harath – Labor on Building $2.80
A.Q. Madson – Sept. Rent $40.00
Total Liquor Bill paid $4,020.62
The following building permits were approved:
C.L. Zibarth
William Burt
Raymond Legg
William R. Kittredge
Stanley Dawson
Hugo Lenz.
On motion meeting adjourned.
H.A. Briggs
Village Clerk
Extract of Minutes of Meeting of Village Council, Village of Elk River, Minnesota September 6 1945
Pursuant to resolution adopted August 22, 1945, a special meeting of the Village Council of Elk
River, Minnesota, was duly held at the Municipal Building in said Village on September 6, 1945, at
eight o’clock P.M. Central War Time.
The following members were present: Davidson, Kramer, Briggs, Skellenger
And the following were absent: Leger
The Village Clerk presented an affidavit showing publication in the Sherburne County Star News of
a Notice of Sale of $70,000 Electric System Bonds as directed by resolution adopted August 22,
1945, which was examined, approved, and ordered filed.
The Clerk presented the bids which had been received by him prior to the time specified in the
notice of bond sale, which bids were then opened, examined, and found to be as follows:
Name of Bidder Interest Rate Amount of Bid
J.M. Dain & Co 1.1% 70,063.00
First National Band of Elk 1.1% 70,035.00
River and Associates
Bank of Elk River 1.1% 70,038.50
E.J. Prescott & Co 1.25% 70,025.00
Allison-Williams Co 1.1% 70,021.00
After due consideration of said bids, it was moved by Member Kramer that the following resolution
be adopted:
RESOLUTION AWARDING SALE OF ELECTRIC SYSTEM BONDS
BE IT RESOLVED by the Village Council of the Village of Elk River, Minnesota, that the bid of
J.M. Dain & Company of the City of Minneapolis, Minnesota, to purchase $70.000 Electric System
Bonds dated September 1, 1945 as described in the official notice of bond sale is hereby found and
determined to be the highest and best bid received pursuant to duly advertised notice of sale and
should be and is hereby accepted, said bid being to purchase said bonds bearing interest at 1.1% per
annum (for bonds maturing in the years 1945 to 19--, inclusive and at the rate of __% per annum
for bonds maturing in the years 19--- to 1955, inclusive), for a price of $70,063.00. The Village
Treasurer is directed to retain the good faith check of said successful bidder pending completion of
the sale and delivery of said bonds, and the Village Clerk is directed to return the checks of
unsuccessful bidders forthwith.
S.B. Davidson, President of Council
Attest: H.A. Briggs, Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by Member Briggs, and
upon vote being taken thereon the following voted in favor thereof: Kramer, Briggs, Davidson,
Skellenger
And the following voted against the same: None
Whereupon said resolution was declared duly adopted, and was signed and attested by the President
and Clerk.
Member Skellenger then introduced the following resolution and moved its adoption:
A RESOLUTION FIXING THE FORM AND DETAILS OF $70,000 ELECTRIC SYSTEM
BONDS, RELATING TO THEIR EXECUTION AND DELIVERY, AND PROVIDING
FUNDS FOR THEIR PAYMENT
BE IT RESOLVED by the Village Council of the Village of Elk River, Minnesota, as follows:
1. The Village of Elk River shall forthwith issue its negotiable coupon general obligation
Electric System Bonds of 1945 in the aggregate principal amount of $70,000, all dated
September 1, 1945, to be 70 in number and numbered 1 to 70, inclusive, each in the
denomination of $1000, which bonds shall mature serially, in order of serial numbers, lowest
number first, on January in the years and amounts as follows: $5000 in each of the years
1948 to 1949, and $10,000 in each of the years 1950 to 1955, inclusive; those maturing on or
before January 1, 1951, to be without option of prior payment, but those maturing in the
years 1952 to 1955 (being bonds bearing serial numbers 31 to 70, inclusive) shall each be
subject to redemption and prepayment at par, at the option of the Village, in inverse order of
serial numbers, on January 1, 1951, and on any interest payment dated thereafter, after notice
or call for redemption mailed to the bank at which payable and to the holder, if known, of
each bond to be redeemed, thirty days prior to the date specified for redemption. The
Village Clerk and his successors in office are hereby authorized and directed to maintain a
register showing the names, addresses, and bond numbers of the holders of bonds
numbered 31 to 70, inclusive, insofar as such information is available to them, for the
purpose of giving such notices of calls for redemption. Both principal and interest on said
bonds shall be payable at the main office of the Northwestern National Bank of Minneapolis
in Minneapolis, Minnesota, and for the prompt and full payment of such principal and
interest as the same respectively become due, the full faith, credit, and taxing powers of said
village shall be and are hereby irrevocably pledged. Said bonds shall bear interest as stated in
the form below.
2. Said bond and the interest coupons to be thereto attached shall be in substantially the
following form:
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF SHERBURNE
VILLAGE OF ELK RIVER
ELECTRIC SYSTEM BOND OF 1945
NO. ___ $1000.
KNOW ALL MEN BY THESE PRESENTS that the Village of Elk River, Minnesota,
st
acknowledges itself indebted and for value received hereby promises to pay to bearer on the 1 day
of January, 19__, or, if this bond is prepayable as stated below, on a date prior thereto on which it
shall have been called for redemption, the sum of ONE THOUSAND DOLLARS, and to pay
interest thereon, from the date hereof until said principal sum be paid for or, if this bond is
prepayable, until it has been duly called for redemption, at the rate of ____ (___) per cent per
stst
annum, payable July 1, 1946, and semiannually thereafter on the 1 day of January and the 1 day of
July of each year, interest to maturity being payable in accordance with and upon presentation and
surrender of the interest coupon hereto attached as they severally become due. Both principal and
interest are payable at ___ in ____, in any coin or currency of the United States of America which
on the respective date of payment is legal tender for public and private debts. For the prompt and
full payment of such principal and interest as the same respectively become due, the full faith, credit,
and taxing powers of the Village have been and are hereby irrevocably pledged.
This bond is one of an issue of $70,000 principal amount, all of like date and tenor except as to
maturity interest rate, and redemption privileges, all issued by said Village for the purpose of
acquiring and improving a public lighting and power system to be owned and operated by the village
as a public convenience from which a revenue may be derived, and is issued pursuant to and in full
conformity with the Constitution and Law of the State of Minnesota thereunto enabling.
Bonds of this issue bearing serial numbers 1 to 30, inclusive, are payable at their stated maturity
dates without option of prior payment; but bonds numbered 31 to 70, inclusive, are each subject to
prepayment and redemption, in inverse order of serial numbers, on January 1, 1951, and on any
interest payment date thereafter, at par, at the option of the Village, after notice mailed to the bank
at which principal and interest is then payable and to the holder, if known, of each bond so called
for redemption, such mailing to be done thirty days prior to the date of redemption. Holders of
bonds of this issue bearing serial numbers 31 to 70 may register their names, addresses, and bond
numbers with the Village Clerk for the purpose of receiving such mailed notice.
IT 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, to exist, and to be
performed precedent to and in the issuance of this bond have been done, have happened, do exist,
and have been performed in regular and due form, time, and manner as so required; that, prior to
the issuance hereof, a direct, annual, irrepealable, ad valorem tax has been duly levied upon all of the
taxable property in said village for the years and in amounts not less than 5% in excess of the sums
required for the payment of principal and interest hereon as the same become due, and additional
taxes will be levied upon all of said property, if needed, within the limitations prescribed by law; and
that the issuance of this bond did not cause the indebtedness of the Village to exceed any
constitutional or statutory limitation.
IN WITNESS WHEREOF the Village of Elk River, Minnesota, by its Village Council, has caused
this bond to be executed in its behalf by the signature of the President of the Village Council,
attested by the Village Clerk, and its corporate seal to be hereto affixed, and has caused the attached
interest coupons to be executed and authenticated by the facsimile signatures of said President and
Clerk, all as of September 1, 1945.
SB Davidson, President of Village Council
Attest: H.A. Briggs
(Form of Coupon)
No. ___ $___
st
On the 1 day of July (January), 19__, the Village of Elk River, Minnesota, will pay to bearer at ___,
in ___, the sum of ____DOLLARS for interest then due on its Electric System Bond dated
September 1, 1945, No. ___.
(Facsimile Signature)
Village Clerk
Facsimile Signature
President of Village Council
Coupons numbered 12 to 19, inclusive, shall also contain the words, “Unless called for earlier
redemption”
3. Said bonds shall be prepared under the direction of the Village Clerk, and shall be executed
in behalf of the Village by the signature of the President of the Village Council, attested by
the Village Clerk, and the Village seal shall be affixed to each thereof; and the interest
coupons shall be executed and authenticated by the printed, engraved, or lithographed
facsimile signatures of said officers. When said bonds have been so executed they shall be
delivered by the Village Treasurer to the purchaser thereof upon receipt of the purchase
price heretofore agreed upon, and the purchaser shall not be obliged to see to the application
thereof.
4. There is hereby created a separate Sinking Fund for said Electric System Bonds of 1945,
which shall be held by the Village Treasurer and used for no other purpose than to pay the
principal of and interest on said bonds; provided that, if any payment of principal or interest
shall become due when there is not sufficient money in said fund to pay the same, the
Treasurer shall pay such principal or interest from the general funds of the Village, and said
general funds shall be reimbursed for such advances out of the proceeds of taxes levied
pursuant hereto or other moneys appropriated by the village Council for such purpose. Into
said Sinking Fund shall be paid all proceeds of the taxes levied pursuant to this resolution
and such other moneys as may be received by the Village for the purpose of, or appropriated
to, the payment of said bonds, and interest.
5. There is hereby levied upon all taxable property in the Village a direct, annual, ad valorem
tax which shall be spread upon the tax rolls and collected with and as part of other general
taxes of the Village, which tax is to be spread upon the rolls for the years and in amounts as
follows:
Year Amount Year Amount
1945 1080 1950 10,965
1946 6060 1951 10,845
1947 5990 1952 10,730
1948 11,195 1953 10,615
1949 11,075
Each of said levies shall be irrepealable; provided that the Village reserves the right to cancel said
levies in the amounts and to the extent permitted by Minnesota Statutes 1941 Section 475.26.
6. The Village Clerk is hereby authorized and directed to file with the County Auditor of
Sherburne County, Minnesota, a certified copy of this resolution, together with such other
information as the County Auditor may require, and to obtain from the County Auditor a
certificate that such tax has been levied and the bonds have been entered upon his bond
register.
7. The County Auditor of Sherburne County and the officers of the Village are hereby
authorized and directed to prepare and furnish to the purchaser of said bonds, and to the
attorney approving the same, certified copies of all proceedings and records of the Village
relating to said bonds and to the financial condition and affairs of the Village and such other
certificates, affidavits, and transcripts as may be required to show the facts within their
knowledge or as shown by the books and records in their respective custody and control
relating to the validity and marketability of said bonds, and such instruments, including any
heretofore furnished, shall be deemed representations of the village as to the facts herein
recited.
S.B. Davidson, President of Village Council
Attest: H.A. Briggs, Village Clerk
The motion for adoption of the foregoing resolution was duly seconded by Member Kramer, and
upon vote being taken thereon the following voted in favor thereof: Kramer, Briggs, Davidson,
Skellenger and the following voted against the same: None whereupon said resolution was declared
duly adopted, and was signed and attested by the President and Clerk.
STATE OF MINNESOTA
COUNTY OF SHERBURNE
I, the undersigned, duly qualified and acting Village Clerk of the Village of Elk River, Minnesota,
hereby certify that I have carefully compared and attached and foregoing copy of extract of minutes
of meeting with the original thereof on file in my office, and said copy is a full, true, and complete
copy of all the minutes of a meeting of the Village Council of said Village held on the date therein
shown, insofar as such minutes relate to the issuance of Electric System Bonds of said Village.
th
Witness my hand and the seal of said Village this 6 day of September, 1945.
H.A. Briggs, Village Clerk