Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1885-05-29
Amended School Bond Law.

An Act to Amend Chapter Forty-fve T45] of the
Laws of 1858, empowering School Townships
to issue their bonds for building and furnish
ing School Houses.
BE it enacted by the Legislative AS
sembly Of the Territory of Dakota:
: SECTION l, Chapter forty-five (45) of
Che laws Of 1883, empowering school
townships to issue bonds for building
and furnishing school housesis amend
ed as follows, =.
l.. Said bonds shall not be issued to
an amount exceeding seven hundred
dollars for each single-room school
house hereafter built: shall draw inter-
est at q rate not to exceed eight per
cent. per annllm, and may be sold at
not less than ninety cents on the dollar
of their par value including accrued in
terest, which discount shall cover all
cost Of preparing, selling and deliver
ing the;bonds and receiving the money
therefor. "' "a Ntf
2. Such bonds shall be sold for mon
ey only, and the money shall be actual
ly paid into the treasury Of the school
township: and they shall not be ex-
changed for property of any kind, and
no contract other than for sale shall be
made in connection Herewith.
3. Said bonds shall be made payable
at some financial agency in either the
city of New York or the city of Boston,
and such agency may be inserted in the
bonds after their negotiation and sale;
but the treasurer of the School town
ship shall enter and keep in his books
the number ard amount of all bonds
sold, and the time and PLACE for all pay
ments. go
SEC. 2. The money raised by the sale
Of such bonds shall be expended solely
for building and furnishing school
houses, and shall be paid out only upon
the treasurer by order Of the board, ap-
bearing in the minutes of their pro-
ceedings for work already done or ma
terial furnished, and the same rule
shall apply to all payments of school
money for any purpose.
SEC. 3. No school house shall be
built by a school township except upon
contract in writing let to the lowest re-
Sponsible bidder or bidders, after adver-
tisement for proposals upon plans and
specifications published not less than
three weeks before the letting, in some
newspaper printed in the county; and
the board may reject any and all bids
and advertise for proposals anew. No
contracts shall be let to any member of
the board or to any member of their
families or to any brother or sister Of
any member thereof.
SEC. 4. No member of q school town
ship board and no county superlntend-
ent shall be personally Or financially
interested, either directly or indirectly
in any contract, purchase OF sale Of
property for the school township or the
schools, or in the purchase, sale or adop-
ton Of text books for the school, or any
other matter bought or sold by the
school township or by it's board, or any
officer for it or for it's schools.
SEC. 5. This act shall take effect and
be in force from and after it's passage
and approval.
Approved March 13, 1885.
q. S. OF AMERICA, sECREIARY's
TERRITORY OF DAKOTA. OFFICE.
l., James II. Teller, secretary of the
territory Of Dakota, do hereby certify
that.;I have carefully compared the
foregoing copy of "an act to amend
chapter forty-five Of the laws of 1885,"
with the enrolled original now on file
in this office, and that the same is acor-
rect transcript therefrom and OF the
whole thereof.
In testimony whereof l havehereun-
to set my hand and affixed the great
seal of the Territory Of Dakota at Bis
marck this 25th day Of April, 1885.
JAMES II. TELLER, Secretary.
1t is related by parties returned from
WASHINGTON that Dakota has an earn