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