The DeSmet leader. (DeSmet, Kingsbury Co., Dakota [S.D.]) 1883-1891, 1885-04-11
Finding Bill.

An Act Authorizing the Board OF County CON-
mitsioners OF Lake and kingsbnry Counties
to Flird the Outstanding Indebtedness
Thereof.
Enacted by the Legislative Assembly OF tho
Territory of Dakota.
See l. that the boards OF county commits
sicners OF Lake and kingsbury counties are
hereby authorized 10 fund such Indebtedness
of said counties respectively as may have ex-
listed prior 10 January ], 1856, In manner ~
this act provided.
Sec. g Tnat the county commissioners Of
said counties. on the passage of this act. snail
have the authority, and ii Is hereby made their
duty, to provide that whenever warranta
drawn upon the treasurcrs shall be presenter,
the sum of one hundred dollars tSl00j, and up
ward. for the purpose Of being funded. that
such warrants shah be taken up the interest
thcreupon calculated to the first day of july
1885, ana in lieu thereof, and in payment OF
said warrants. That the bonds OF said conn
ties, in denominations or not less than one
b undrcd dollars (xlbp. nor more than nvy
hundred dollars $500 each. bearing date, ana
with coupons attached 10 said bonds, and pay
able rs hereinafter provided be issued 10 tho
holders of such warrants; provided, however,
said county trcasurcrs shall have authority,
under the direction or the respective county
commissioners, TO sell and negotiate said new
bonds provided for by this act nj not le
than their par value, and with the proceeds OF
this sale. settle and pay any or the outstanding
warrants or indebtedness against the said
counties respectively. as named In section or
this act, and IL shall be unlawful 10 use the
funds SO obtained for any purpose whatever.
except to take up aud redcesp the Indebted
ness of said counties existing prior To Janu-
Sec. O. Such bonds shall be dated the firse
day Of July 1885. and shall be rcdccmable Ut
the option of the respective counties, 6ftcrh hve
years. and due and payable at the end OF
twenty years after date ana shall bear interest
at seven ca per cent, payable semi-annnally
ON the first day or January ana July or each
year. Both principal and interest shall be
payable ut any banking house selected by the
respective county commissioners.
IL hall l,nt tIs fsf he vsoo ovxf,0-
tive county commissioners OF said counties tn
fund the outstanding indebtedness, as herein
provided, To levy ana collect annually tax
sufficient to pay the interest on said bonds,
aud after ten years they shall collect, In adj
di'ion thereto, annually, sinking fund bond
tax sufficient to pay the principal OF such
bonds by the time they shah bccomc duo and
payable; and, with such sinking fund bond
tan, they shall, fast as the same Is collected,
80 into the market and buy up such bonds and
retire the same. and such interest tax and
sinking fund bond tax shall not he used for any
other purpose: provided, that no more than
than par value shall bee paid for such bonds:
Sec. 8. The outstanding indebtedness which
shall exist on the first day Of January, 1873,
shall be funded and paid as herein provided.
and any and all persons shall have until Octo-
ber J. 1881. 10 bring the Warrants I'm their pos.
session drawn on such funds and recefycthe
bonds IA provided and no longer.
sec: s. The respective county commission
ers OF said counties shall, ut the first session or
the board after the passage OF this act, make
such provision as shall be necessary and
proper for carrying out the provisions OF this
act or as soon thereafter IA IL can reasonably
be done. and such bonds shall be either lithO-
graphed or printed. with interest coupons at
tached, and shall be executed by the respec-
tive churu,en OF the boards OF county COM
ussoners for the aforesaid counties, aud
shal. bc under the seal OF the respective coln-
thereof. % OFF and shall t,s PAYABLE TO the persons
respectively presenting such Donds,or bearer.
See. T. Wnen such warrants are so taken up
and paid by the issue of bonds, a. herein pro-
xyfR al StteH
by sbond No." lgiving number Of bondl,
and shall be retained by each comfy
commissioners and then shall be carefully
compared with the bond register, and IL found
to correspond Herewith, shall then be fnrther
cancelled by being marked on each separate
warrant. funded under act OF -, lSSa, exam
ned and found correct this - day of -----.
lSS5, and signed by the county clerk, and by
COMMISSIONERS. com put mp ia sealed packages
marked, Warrants taken in exchange for
bond No. - 70 No. - inclusivc. amounting to
g." and by him filed In the county clerks
slich settlement with such board, the county
treasurer shall e,riorse on each warrant -
taken up aI,J paid the amount or interest Al
lowed thereon. The country treasnrers q
said counties shall provide themselves each
with book, TO he called the bond register,
Sar Of al e party to whom
sued, and the amount OF the warrant or war
rants, and the amount of interest thereon Tor
other facts as he shall be referred thereuntO
by the county commissioners, and such
| register shall Immediately after the nrrt day
! OF October, lsr5. bo deposited with the county
CLERK. and shall remain In his ONCE a. pub
! lie record.
sec 4. Each aud every violation OF the pro-
visions Of this act shall be held 10 be Y mtsde-
meanOr. and on conviction thereof. the party
so offending shall he punished by 4 fne OF not
less than two hundred ,s0D dollars. nor more
than SIX hundred t60Dl dollars. or By impris0u-
ment i'm the county Jail for u term Of not lcsa
than six months, or both, AS the court may
direct.
counties shall recrive for his services under
this q. one half per cent. all moneys n ~
ceived by him In carrying out the provisions
Of this act.
See 10. All acts aud parts Of acts IN c0nftct
with any OF the provisions Of this set sse hore-
10y. repealed 4 eS
force from aud after its psssAge ea>d approval