The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1883-01-11
cornrv oon.nrss1oNEss.
Contract in Relation to Refending th'
County Bonds eorganizatio
of the Board-CIains Al
lowed, scte Ete.
SATURDAY. Jan Q, 1885.

OF the BOard-CIaims Al
lowed, Ete etc.
SATURDAY, Jan 6. 1885
The conatY commissioners met as per
! adjournment
| Present-H. F. Holmes, ] E. jones
and P. G. Hallberg.
/ The following is the contract in full
entered into between the county CON-
missioners and the bankers of Emporia
city in relation TO lefnnding 500. 600 OF
the county's Indebtedness:
This agreement made this 3D. day of
January, 1888, between the board of
county commissioners of Lyon county,
Kansas, party Of tae first part, and Cal
vim Hood, Howard Dunlap and H. c.
Cross. parties OF the second part,
Witnesseth, Whereas, Lyon county
has outstanding $40, 900 Of bonds bear
in = interest at the rate of seven per cent
per annum. and Fedeemable at the pleas
nre of said Lyon couniy; and
Whereas, Said county is desirous of
securing lover rate OF interest on $780,
coo of its in .ebtedness, and "a this end
has employed the said Calvin Hood.
Howard Dunlap and III. G. Cross as its
agents TO effect such reduction,
Now, therefore, this agreement viii
nesseth that the said Lyon county does
hereby employ said Calvin Hood, How
ard Dunlap and Ii. e. Cross as lis
agents to effect the sale or exchanges of
new bonds of said county, b be dated
the first day of January, A. ID. 1885, 10
The amount of $500, 600, bearing interest
at the rate of Ave per cent. per annum.
payable semi annually, running thirty
years from date, bat redecmable al the
pleasure OF the county after ten years
from the date thereof, both principal
and interest to be paid ct the fscsl
agency of the state OF Kansas, in the
city of New York, to be registered by
the state auditor of Kansas, said rev
bonds to be sold or exchanged at not
less than par value, and said county
hereby agrees 10 pay said agents as fall
compensation for their services in sell
ing or exchanging said new bonds the
sum of one per cent. upon the par
value of the old bones so paid, ex-
changed or redeemed, to be paid al the
time of redemption or payment. The
said new bonds TO be executed and is
sued by Lyon county and placed ia
escrow with Donnell, Lawson u
Simpson, fiscal agents for the state of
Kansas, in the city of New York,
bearing interest at the rate Of
per cent. per annum as afoTe-
said from their date, 70 be by them de
livered TO said parties of tue second pat
from time TO time whenever they shall
surrender 10 said fiscal agents an equal
amount of outstanding per cent. bonds
or shall deposit with said fiscal agents
the face value of said new bonds and in
teIest, and in order 10 ascertain the
amount of the old bonds so to be sur
rendered or cash so to be deposited aGd
the new bonds 50 TO be delivered, the
principal and Interest to the date of de-
livery of the new bonds shall be calcu-
lated ard included and the principal
and interest of the old bonds due on the
date fixed by the party of the second
part for their surrender shall be ca!cu-
lated and included.
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 local agents for the pay
ment of all interest due or 10 become due
on said outstanding seven Per cent bonds
and said party of the first part hereby
authorizes and Empowers said parties OF
the second part, in its own name and for
It's account TO publish 1T any time IN their
discretion official notice 10 the holders
" SdAu OutStdhdlbS SEVEN P'7i NtaA-f
bonds, or any of them requiring them to
present the same for redemption and 10
stop the interest on said bonds. And
said parties of the second part hereby
expressly covenant and agree To and with
said party of The first part that they will
use all lawful means to accomplish the
object of this agreement aud therttp will
give their best services anu influence.
This agreement TO remain in full toTcc
and eff CT until the list day of January,
1884
In witness whereof the parties thereto
have liked the seal and subscribed their
names this the 81 day of January, A d.
1888 II. F. HOLMES,
J. f. JONES,
z. G. HALLBERG,
Commissioners f Lyon ConDly.
CALVIN Hoop,
Vice Prest. of the Emporia Natl Bank.
Fl. DUNLAP,
Cashier of Emporia Savings Bank.
II. T.. CRoss,
Priest of First Nat'l Rank af Emporia