The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1860-03-30
Local A fairs.

RAMSEY COUNTY FINANCEs.--At the late
session of the Legislature, an act was passed
authorizing the County to issue bonds Tor
the purpose of reducing and funding her
present indebtedness. and making such
compromise and adjustment in reference TO
the bonds which have been heretofore issued
by the authorizes thereof, as may be thought
advisable and expedient.
These bonds are to bear not exceeding
seven per cent interest, and are to be made
payable, principal and interest in New
York, and run from eleven to fifteen years
and further issues of bonds are prohibited
after the present floating debt is funded !;
and for the payment of the principal and
interest on the bonds, sufficient portion OF
the taxes are to be collected in gold and
silver.
William R. Marshall, Luke Marvin, and
Peter Berkey are appointed commissioners
who shall have authority with the bonds
mentioned, to reduce and compromise the
present indebtedness of said county, or any
norton thereof, and with said bonds to
make such compromise and adjustment OF
the bonds heretofore issued by said county
as they may deem advisable and expedient.
Said commissioners and their clerk shall
receive rom the County Treasurer compen-
sation at the rate of two dollars per day for
each days service actually rendered, and
all expenses hereby properly incurred, shall
be paid by said county.
In consideration of the creditors receiving
hereafter the principal and interest in gold
and silver, the commissioners are directed
to compromise with the holders thereof in
the issue of new bonds, and the County
Treasurer is not authorized to countersign
any such bonds, unless the same are less in
amount than the bonds and interest on the
indebtedness for which the same are to be
issued, nor unless the compromised bond
or the evidence of compromised indebtedness
(if the same can be obtained) are delivered
to said Treasurer for cancellation or Gf the
same cannot be obtained) proper release
and obligation to hold the county harmless
therefrOm.
The Commissioners are each to receive
two dollars each per day, for their services
when actually employed, and their powers
and duties are to terminate within six
months from the passage of the act.
The County Auditor and all other coun-
ty officers are prohibited from drawing any
orders upon the Treasurer of said county
on or after the 18th day of April, 1860, un'
less there is money in the Treasury at the
time said order is drawn, to pay the same
and no orders shall be received in payment
of delinquent taxes in said county of Ram.
sey, on or after the 18th day of April next
The above are the principal provisions Of
the act, and we learn that the Commission
ers will Immediately proceed to the dis
charge of their duties. Whether they will
succeed in materially scaling the bonds
heretofore iSSucu, uidy Weh NC oouo'ou' ou'
the feature of the law which will be most
commended by tax payers, is that which
prohibits any further issues. If they sue
coed in disentangling the county from the
difficulties in which it is involved, so thai
the people may know exactly the position
in which they have been placed by the i'm
beci:ity and rascality of the County Board,
they will earn the thanks of the whole com
munity.