05-01-1939 VCM - Laserfiche WebLink

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VILLAGE OF ELK RIVER COUNCIL MEETING May 1, 1939 The regular meeting of the Village Council was held at the Municipal Bldg Monday May 1, 1939 at 8 o’clock P.M. Members present: Frank Nickerson, Pres.; G.A. Bailey, Wm Patenaude, and Geo Cornelius, Trustees; Wm H Greupner, Clerk The minutes of last meeting were read and approved. Archie Brown came before the Council stating that if the Council intended to hire a traffic cop he would like to present his application. He was told that the Council had not planned on hiring a traffic cop at the present time but the County might so he should see J.C. Bloomdahl, County Commissioner. A motion was made by G.A. Bailey seconded by Geo Cornelius to grant Jenkins and Oster a permit to remodel the Elk Theatre and build a ticket booth projecting eight inches out on the sidewalk. A motion was made by G.A. Bailey seconded by Geo Cornelius to charge the Village of Dayton $45.00 for the fire run which was made in April. Donald Dare came before the Council in regards to the Village building a cement platform for the band at the school stadium. A motion was made by Wm Palenaude seconded by G.A. Bailey to have this platform built. A motion was made by Wm Greupner seconded by Wm Patenaude to accept the following resolution. Resolution Be it hereby resolved that the following named bank The First National Bank of Elk River, Elk River, Minnesota authorized to do a banking business in Minnesota be and hereby is designed depositor of the public funds of Village of Elk River, County of Sherburne, Minn. For the term stst commencing with the 1 day of May, 1939 and ending with the 31 day of Dec 1940 to wit. All the money of the Village upon the terms and conditions following to wit: That this designation is subject to the rights of said Village of Elk River, Minn to modify, vacate, and revoke the same according to law. That said depositor may in lieu of said bonds, assign to said Village of Elk River and deposit with its treasurer securities authorized by law for that purpose in a total amount commuted at their market value, of a least ten percent more than said aggregate limit to be deposited therein at any one time; and that it may, at its discretion, furnish both such surety bonds and deposit such collateral securities aggregating such amount upon approval of said Village of Elk River, in which case such collateral securities shall not be withdrawn without counsel of the surety on such surety bond; That the First National Band, said depositor shall pay interest at non percent per annum on all monthly balances of such deposits therein subject to payment on demand: and 2 percent per annum on all time deposits.