The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1882-12-28
coUNrx BUSINESS.


4
of county commissioners of Lyon coun-
| y. in October, 1882. the following or
der was unanimously passed
| WHEREAs, 1t is the desire OF the
board Of county commissioners OF Lyon
county. stale OF Kansas, to compromise.
settle. lIquloaie. refund and pay of the
present bonded Indebtedness of said
county, provided reasonable and satls-
factory terms can be agreed upon by
| said board of county commissioners and
the holders OF ssid bonds, by issuing
| and selling or exchanging the refunded
bonds provided Tor Ia an act of the leg
J lsisture OF said state of Kansas, ap-
proved, March 8. 1879, being chapter
/ so, session laws of Kansas. 1879, COM
mencing at page 1874; and in order to
carry ont. ii possible, the said desire
| and purpose, be il
Resolved and ordered by said board
OF county commissioners of Lyon coun-
/ ", state of Kansas. at regular session
| of said board, held az the court house
in the city OF EmpOria, said county and
state, on the 18th DAY OF October, A. d !.
1882, at the regular October session for
1882 of said board, that we do hereby
constitute and appoint our chairman
Hon. Hugh +. Holmes, of said county
our lawful agent and attorney, TO visit
the cities of Philadelphia, New York
and Boston, and in the name of said
board of county commissioners fer
Lyon county. state of Kansas, and in its.
stead and by its authority to take all
necessary steps TO compr0mise, settle.
liquidate, refund and pay of the pres
ent bonded Indebtedness of said county
of Lyon, state OF Kansas, by issuing the.
refunding bonds of said county herein.
specified and in our said boards name
and stead To cfaploy all necessary bank
ers, brokers and agents, TO transact said
business for and on behalf OF said board
of county commissioners at the cost
and expense of said county, with
full and complete power in the name
and stead of said board q county COM
missiOners to make and execute ali con-
tracts and obligations TO said end as
completely in every respect as eOaid be
made by said board, granting to the.
said agent and attorney of said board
full power to do everything whatsoever
requisite and necessary TO be done In
the premises as fully as said board could
if acting as body in the premises.
Done by the board of county commits
siOners of Lyon county. state of Kansas.
at the time and place aforesaid.
II. +. HOLMEs, Chairman.
In witness whereof, / have hereunto
and state aforesaid
WIN. F. EWING,
County Clerk of Lyon County, Kansas
State of Kansas,
County of Lyon, IS.
l, VIM. F. Ewing, county clerk of aid
Lyon county, state of Kansas, do hereby
certify that the above and foregoing is a
true and correct copy of the record of
| the proceedings of the board of coc nfy
commissioners of the said county of
Lyon, state of Kansas, at their regular
October session, A. D., 1882, ON the 18th
day of October, A. D., 1882, az now re-
mains on file and On record in my office,
as by said records and files will appear.
In testimony whereof / have hereto
set my hand and the official seal of my
Office this 4th DAY of December, A. D.,
1889. VIM. F. EWING,
County Clerk of Lyon County, Kansas
COUNTY CLERKS OFFICE, Dec. 20, 'S2.
The board met in special session for
the purpose ofcOnsidering the matter of
refunding the county's Indebtedness and
to receive the report of H. F. Holmes,
chairman of this board under his ap.
pointment of October 18th.
Present---H II. F. Holmes, J. E. Jones
and p. G. Halberg.
The Hon. Fl. F. Holmes made the fol.
lowing report under the order of Oct.
IL. 1882. appointing him as the agent of
the county to visit the cities of Phila-
delphia, New York and Boston in re-
latien to refunding the county indebted
ness from seven per cent. bond 10 q
lower interest bearing bond:
1, H. F. Holmes, would make the fol-
lowing report:
After visiting the cities of PhiIadel-
phia and New York and having called
on some of the prominent bankers and
brokers in said cities, and talked with
them in relation to the refunding of the
bonded Indebtedness of Lyon county,
but received no definite proposition
| from them, then went To The CITY of
Westminster, in the state of Pennsyl-
vania, and called upon one Smedly Oar
lington, prominent banker and broker
of said city, and after explaining to him
the nature of my business, Lo-Wit-the
refunding of the bonded Indebtedness
of Lyon county, he made me this
proposition, which is embodied
in the following contract which / here
! present for your consideration, and make
a part of my report. Said contract is
! as follows:
This agreement made this - day OF
December, A. d. 1882, between the
board OF county commissioners of Lyon
county, Kansas, party of the first part
and Smedly Darlington, of West Ches-
ter, Chester county, Pennsylvania, party
of the second para, witnesseih:
Where's, Lyon county has out
| standing $249,O0O of bonds tbear-
ing interest at the rate of per cent per
annum, and redeeInable at the pleasure
of said Lyon county, and
Whereas, Said county is DESTROYS of
/! securing lower rate of interest ON its
said Indebtedness, and to this end has
employed the said Smediy Darlington
as its agent TO effect said reduction.
Now, therefore, this agreement wit
nesseth that the said Lyon county does
hereby employ said Smedly Darlington
as its agent TO effect the change or sale
of new bonds of said county, 10 be dated
| the End day of January, 1888, bearing IN
/ terest 1t the rate OF @ per cent per an
mum, payable semi-ann1ally, running
thirty years from date, but redeemable
| AT the pleasure of the county after ten
| years from the date thereof, both princi.
! pal and interest 10 be payable at The rs
| cal agency of the state OF Kansas in the
city of New York. and TO be registered
4 .
bonds to be sold or exchanged at not
less than their par value, and said coun-
| ty hereby agrees TO paw said agent q
full compensation for his service, in
| selling or exchanging said new bonds
| the sum of one per cent upon the par
value of the old bonds so paid, redeem
ed or exchanged, to be paid at the time
of redemption or payment.
| The said new bonds are TO be execu-
ted and issued by Lyon county, and
placed in escrow with Donnell, Lawson
q Simpson, fiscal agents for the state of
| Kansas, in the city of New York, 10 be
by them delivered to said party of the
second part in amounts from time to
time, when he shall surrender to said
fiscal agents an equal amount of said
old bonds now outstanding, or shall de-
post with them the face value of such
bonds as he may withdraw, together
with any and all interest accrued on
such bonds to that date.
And said party of the first part hereby
agrees to and with said party of the sec
ond part that they will place sufficient
funds with said fiscal agents for the pay
ment of all interest due or to become
due on said outstanding seven per cent.
bonds, and said party of the first part
hereby authorizes and empowers said
party of the second part in its name and
for lis account to publish at any time in
his discretion official notice to the hold
er of said outstanding seven per cent.
bonds or any Of them requiring them TO
present the same for redemption and to
stop the interest on said bonds And
said party of the second part hereby ex-
DTessly covenants and agrees to and with
, said party of the first part
that he will use all lawful
means 20 accomplish the object of this
agreement, and that he will give his
/ best services and influence, this agree.