The Meeker herald., 1889-11-02

SIR - Hearing '.Jerable discus.
sion among the Ieople regarding
tho action Of Z Board OF County
Commissioners. Y lowing the Hol-
Inns Investment npany Avo per
cent commission G flzcing the bonds
Of this county ~ laving desire u
know something q tho subject my.
self concluded q P&t,Rats the mat
ter and learn tho rect facts In the
case.
With this sud u evI learned what
I could personally u consulted with
mon convcrsant end capabis OF
giving . correct q poe on such mat
ters.
As the informal hos gained may
prove valuable = B. people Of this
county l dssirs (xt your columns
10 submit Il 70 tha q Clsir considera.
ton.
lind that TIE Z n OF tho Hoard
for acting In thtal Il 10 given II by
Seo. OF IN ~ = u,e Legislature
passed liza vtseW 1rAn - found on
page 3c Of the Hsa6on Laws Of 1850.
This section roads
Sec. 2-"Ths Ioard Of County Com.
missioaen Of AM county In this State
against which . Judgment has or may
bc rendered In my Of the courts OF Ie-
cord In this Star, isAv Issue its bonds
In satisfaction 81 ssch Judgment and
accrued interest thereon, dollar for dol
lar; such bonds 10 draw Interest ut not
to exceed eight I-s cent per annum.
Such Interest % b. payable semi
annually. such bnds shall be In de-
nominations OF che thousand dollars.
i've hundred doliArS and one hundred
dollars. ~ tho ciicustancrs Of the ease
may require; shall 10 payable at tho
option Of tho county. ten yeafs from
date. and absolutely due and payable
twenty years after the date thereof;
both the interest and principa! OF said
bonds may 10 made payable nj at the
Office Of the County Treasurer 81 such
county. or In the city Of New York. nj
the option Of tho holder OF the bonds.
PROVIDED. ALWAYS, that should tho
holder or holders Of any such judgment
decline To accrp, such bonds In salts
faction Of tho sane, tho Board Of
County Commissioners Of said county
may sell such bonds nj not less TnAS
THEIR fAcE VALUE. for the purpose of
raising funds for the satisfaction oi
such judgment"
This section. II viii BE- observed. give
tho Commissioners tho righ, Ia Issue 'ie
bonds Of tho county In satisfaction OF
my Judgment that has or may bc rem
dcrrd against II without submitting the
same TO = vots Of the people Of the
county, but under certain conditions.
Chief nnong these condition. nse u
that the bnads shall not hear morr thar
eight pr cent per annum they ma,
bear lcss); t:j that u tho holders of ih'
4J~A0Asss ss~~liarb IL rreaAVe flscsn II
satisfaction ri tf Same. then they ma,
bc sold by tho Bard Of County Com
mi.sioncrs nj not LESS THAN THEN
vAcg VALUE, for the purpos. Of raising
funds for the satisfaction Of such iudg
mcnt. Under this scction Too tie holder
OF the judgement LAS the option of tax
ing the bonds In satisfaction thereof
and accrued Interest. but lie has 10 take
them DOLLAR fot DoLLAE-Sor AT A
DISCOUNT: and until he declined 10 re-
ccivc them tho Commissioners nft
powcrlcss Ia sell item Ia any one else.
Now apply this to our case aud let u.
see II our hoard In, Ic;cI In accord
ancc with law AMI their duties aS Com
missioncfs.
A Judgment was obtained by i. W
Rollins agains, tbs county on n war
rant which has been issued 10y IL. Under
the section gto;si above, the Commits
-.oncrs had authority TO issue the hond'
Of III. county in satisfaction Of The
Judgment. but the question arises, wha
was the proper course 10 pursue 10 issu'
them In accordance with lawy Ny idcs
il, and 4, Is also the opinion o! thos'
whom consulted and whom consoles
authorities on a.. subject, that Thu
proper and only legal course for th'
Board 10 have pursued. was. TO hav,
adopted resolution 10 issue bonds II
satisfaction II such judgment and TO Il.
the rate OF interest they should bear
then 10 direct their clerk TO send wr.;
ten communication 10 the holders OF tn
judgment Offering said bonds In salts
faction Of the same with accrued inter
est, dollar for dollar. and In case sucl
proposition was accepted by the holder
then the only course left for the Boar