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01-29-1947 VCM Extract of Minutes
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01-29-1947 VCM Extract of Minutes
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1/29/1947
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interest payment date thereafter upon thirty (30) days prior notice which shall be given by mail to <br />the bank at which the certificates are payable and to the holder, if known. Holders desiring to <br />receive such notice must register their names and addresses with the Village Clerk. <br /> <br />IT IS HEREBY CERTIFIED AND RECITED That all acts, conditions, and things required by the <br />Constitution and Laws of the State of Minnesota to happen, to be performed and to be done <br />precedent to and in the issuance of this certificate has happened, have been performed and have <br />been done in due form, time and manner as required by law; that the Village of Elk River has <br />acquired and now operates an electric plant and system pursuant to law; that the village council has <br />heretofore established by ordinance duly adopted and will collect rates and charges sufficient in <br />amount to pay this certificate and interest thereon and all prior obligations as the same become due; <br />that the village council has created a special account in the Electric Revenue Fund for the payment <br />of said principal and interest and has agreed to set aside in said account each month a sufficient <br />amount to pay said principal and interest as the same become due and that it will maintain rates and <br />charges sufficient in amount to pay said principal and interest so far as permitted by law and will pay <br />the same into said special account, and use the same for the payment of said certificates and interest <br />thereon; and that said certificates shall be a charge against the earnings of said plant and system prior <br />to any obligations which may be hereafter issued. <br /> <br />IN WITNESS WHEREOF, The Village of Elk River, Minnesota, by its Village Council has caused <br />this certificate to be executed in its behalf by the signature of the President of the Village Council <br />and the Village Clerk and the corporate seal of the village to be hereto affixed and has caused the <br />interest coupons hereto annexed to be executed and authenticated by the facsimile signature of said <br />officers, all as of January 1, 1947. <br /> <br />H.A. Briggs, Village Clerk <br />G.B. Davidson, President, Village Council <br /> <br />(Form of Coupon) <br /> <br />No. $10.00 <br /> <br />st <br />On the 1 day of January (July) 19___, the Village of Elk River, Minnesota, will pay the bearer out of <br />the Interest and Sinking Account of its Electric Revenue Fund at the main office of Northwestern <br />National Bank of Minneapolis, Minneapolis, Minnesota, the sum of TEN DOLLARS for interest <br />then due on tis Electric Light and Power Plant and System Revenue Certificate, dated January 1, <br />1947, No. ___. <br /> <br />H.A. Briggs, Village Clerk <br />G.B. Davidson, President, Village Council <br /> <br />5. The certificates herein authorized shall be prepared under the direction of the Village Clerk <br />and shall be executed on behalf of the Village by the signature of the President of the Village <br />Council and the Village Clerk and its corporate seal shall be affixed thereto and the interest <br />coupons shall be executed and authenticated by the printed, engraved or lithographed <br />facsimile signatures of said officers. When said certificates have been so prepared and <br />executed, they shall be delivered to the Village Treasurer who shall deliver the same to the <br />purchasers thereof as hereinafter provided. <br /> <br />
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