HomeMy WebLinkAbout19430128_SPECIAL(€3211~ and payrolls contfnued)
John Person 111
€3, Tracy 112
L. Sanzone 113
Chas, Jo'l?nson 114
George SHlson 115
J, Ga.rr5.son 116
Ae YOWE 117
De Jensen 118
C. CaZdvell 119
0, ForslSn 120
Hilda Hoag 122
Total
r;;; 41.SO
5e 50
6,60
40.70
30eOO
13 . 20
1065
de40
5000
23,Oo
50 50
$339.75
;I;; .90 2 40090
6,50
6-60
e 90 39 .,SO
e 40 29,60
29 * 00
13,20
5e50
1,65
40 40
There behg no further buafness to come bei-ore the counc5.1, Pres-ld.en%
Sha-rpe declnred the meting adjourned. at 11:30 pone
.\..>'.>'- .. a. ,.
President Shax-ye called the merst%.ng to order and all members ansvered tu rollcall,
PresLdent Sharps read the folloc9ng letter from Chp-rLes a, Hovmrd of %he law fhn of Fletcher, Dorsey, Barker, Golmm snd Barber,
dated Jan. 27, 1943:
Iff 1.5.r. Earl, Sharpe
President, Vfllage Gouric If
Vl?.t~gs of Er3fna, K:S.nnesota
"Sfnce the leg2sl-ature d.5-d. not antIc1pa-k tl-12~ ~Ztuat3.m
%he sewer ls.v d.oes not contain .sny speciffc inst:~u,ctfons
3.9.8 to vliat a-ctlon should. be ta-ken, !*ie think, 'r.owe.ireri,
%h~t a reference to general rules of 3.m~ offers a.
saiiisfactor: gv.ide, The vAll8-g-e 2s 5-n effect R tjxstee
OF R spacrisl fimd, the interested. parties be5-n.g tbe
property oinmrs and. the imrrant hold..ers, Eoth gro~xps
t3.m hterested- In se&ng khat the money is used- for
sewer constim-ction s.nc3. to retire bonds with as Ifttl-e
loss as possible, it -Ls to the interest of both tht the interest LoBd be
kept to a minimums The best possible investment is in
the marrants of the district, The properky o~mers a.re
not concerned. as to wh.3-ch warrants are pafd, However,
the va.rrfous ma.rrent hold-ers mag hs.ve. an ad-verse fnt erest
in seeing that their wa.rrants are first paid out of the
.fund
Since the S~I'JBT can_~o'c be constpcted.
"The entire amount available, both from the sale of
v~arraxts and fro@ the proceed-s of special assessments,
shoidd. be used to retire warrants The vfllage shou.ld
first pay the principal and. interest that become due
January lst, This will leave approximately $20,000 to .
retire warrants which are not due. Mr* @%st and. Mre
Schaust will turn in for paynent at par all the mmrants
maturing January 1, 1944, and sufficient of the 'l?r,g~ants
matu.x-ing on the follov~ing January 1st to u-se up the
moneys on h,nd., The3 further agree that as fa.st as
other moneys are ava.lle-ble %hey '67111 a-rrange to
su.rrender the next matixrlng vf-armnt s
eliminate any possibiltty of default :in the. near fntnmo
They awe of th.e opinion that the properties in the
d-istrict have sufficient value so th8.t imd-er tbfs plan
there vrS_ll be no eventual default, %hen the awrrmts
are retimd. the balance will be a.-cia.il&le to complete
the project or reduce assessments,
rea.d-3 to complete the sewer constrm-ction it may be
necessary to issue add.itiona.2 ~~a.rra-nts~ If the credit
of th.e village is pyeserved- this can be arranged at
that time, ''
Th3-s will
!"il?en the v-ill3.ge is
Following d.lscussPon of the Letter, Gebo moved that the coimcll
fol-low the recornfriendation of Charles 3, Bonard in the matter of
prhcigal and. interest on Sewer District No, 8 vm~~ants s-ubje&
to Pecelpt of sa.tZsfactory letters from Harold. Ee Y!ood & Go, md.
First Bakional B3.nk of Ijfinneapolis showing that they represen% all
holders of ou.l;standh.g warrarrats md that the plan of papen% 5s
sat5 sfactorg to a11 nrJrravrt hol-ders,
RollcaU vote aae f3ne ayes, as follow: Gebo, '!!ill.son, Y!yatt,
HmpJthome, Sharpe, and no nays so %he motion was adopted*
Presicient 3ha.rpe instru-cted Attoorney Cove11 to secure letters from
Hwrold.
accordance with the mot-ion just adopted- and 'to advise villa.ge
09l"fcers' wshether the letters are satisfactory before pa73nen'c 1s made on the Sewr Dlstrict No, 8 aarrmts,
\
Seconded. by HPTithome,
liood b Co, and First Natt ona-1 Bank or" Xinneqolis in
Hawthorne offered $he following resolut2on and. moved its ad-optlion:
' RESOLUTION
BE IT RESc)LVED by the VPllage Council of the Village of Ed.ina,
* Ken.nep3-m. Goimty, Ninnesota, that : .