Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1885-04-18
$4oO7.63 S4907.62


entitled "An act authorizing the board
Of county commissioners Of Custer
ty to fund the outstanding Indebtedness
thereof" passed during the 10th session
of the Legislative assembly of Dakota
Territory, the total outstanding indebt-
edness Of Custer county existing on the
LIST day of April, 1885, outside Of the
bonded debt, be funded seconded by Mr..
Nevins, and unanimously carried.
Mr.. Nevins moved that the funding
bill be spread on the minutes Of the pro-
ceedings Of the board, which was second
ed and carried.
The bill reads as follows: =
AN Acr AUTHORIZING THE BOARD OF
COUNTY COMMISSIONERS OF CUSTER
COUNTY TO FUND THE OUTSTANDING *
THEREOF.
Be Il Enacted by the Legislative .Assembly
Of the Territory Of Dakota:
Section l. That the board of county
commissioners Of the county of Custer
are hereby authorized, and it is hereby
made their duty. to fund such indebted.
ness Of said county az may exist on the
first day Of April. 1885, in manner by
this act provided.
Sec. 2. That said board of county
commissioners, on and after the first day
of April, 1885, shall have the authority
and it is hereby made their duty, to
/ proy;Ja whora,ar ,,c~.,,, I.o,, r.
any portion of the Indebtedness herein.
before mentioned shall be presented to
the county treasurer, in sums of one
hundred (lOO) dollars and upwards, for
the purpose of being funded, that such
warrants shall be taken up, the interest,
II any, thereon be calculated to the first
day Of April, 1885, and in lieu thereof
and in payment Of said warrants, that
the bonds OF said county, in denomina-
tions Of not not less than one hundred
(lO0) dollars nor more than one thousand
1000 dollars, the denominations there
Of to be fixed by the holder Of such in
debtedness. bearing date and with ap
propriate coupons for the interest at
tached to such bonds, and payable as
hereinafter mentioned, be issued to
holders of such warrants.
Sec. 3. Such bonds shall be dated
April !, 1885, and shall be payable fifteen
years after date, and shall bear interest
ct the rate Of sever ~ per cent per an
mum, payable annually on the first day
of April, at the county t~reasurer's office
in said county, and the principal thereof
shall be there payable.
Sec. 4. 1t shall be the duty of the
board of county commissioners of said
county to fund the outstanding ;ndeh.-
edness, to levy and cause to be collected
annually a tax, in. cash, sufficient to pay
the interest OF said bonds, and the
money collected therefrom shall not be
applied in payment of any other claim
against said county whatever until all
the interest accrning upon all bonds is
sued under and by virtue Of this act is
paid I'M full and the county treasurer
Of said Custer county is hereby author
lied to paid said interest out Of the coun-
ty. funds in case the special tax herein
provided has not been collected when
said interest falls due, or 80 much there
Of as may be unprovided for, by the
amount collected npto date of payment
authorized, and to return to the
funds tho amount 70 paid there.
rom out Of the money collected under
The provisions Of this section, but not
until all interest due upon said bonds
has been fully paid. That after ten
years the said board of county commits
of said county shall levy and
,ause to be collected, in addition there
%, annually, q sinking fund bond tax,
'ufScient to pay the principal Of said
bonds by the time they shall become
lus and payable; aud with such sink