Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1891-03-20

AL ACU 10 huleu CeCGlOu D OF an ACC EQuCl60
An Act Authoriz ng Counties to Procure seed
Grain for Needy Farmers Resident Therein,
Chapter 1852 of the Session Laws of North
Dakota, 1880, and to d the Sam, as SO
Amended.
Be it Enacted by the Legislative Assembly of
the State of North Dakota:
SECTION 1. That section 6, chapter 1872
of the Session Laws of 1890 be amended
to read as follows: "For the purpose of
securing prompt payment of the principal
and the interest of the said bonds, there
shall be levied by the board of county COM
miSSiOners at the time and in the manner
other taxes are levied, such sums as shall
be sufficient to pay such interest, and in
addition thereto, a sinking fund tax shall
be annually levied, sufficient to pay and
retire said bonds at their maturity, and it
shall be the duty of the county treasurer
to pay promptly the interest upon said
bonds as the same shall fall due. The
board of county commissioners of any
county which has awaited itself OF the pro-
visions of this act, if such levy to pay said
interest and create said sinking fund.-
as provided above, has been made, shall
have the power to apply any surplus
of money remaining in their hands from
sale of said bonds after fulfilling the re-
quirements of this act to the discharge of
any other indebtedness OF the county.
evidenced by, bonds Or warrants"
= " J"f"tSIs A1"u LoUIlIIIH III UlllS
amendment shall be construed to prevent
said commissioners, in their discretion,
from using said money for the purposes of
purchasing seed grain under the regula-
tons of this act" No tax or fund provided
for the payment of such bonds, either
principal or interest, shall at any time be
used for any other purpose; Provided,
hO1DcDer, That the board of county COM
m%issloners may deposit any part or por-
ton of the sinking fund herein provided
for, in any bank furnishing satisfactory
security in the state of North Dakota
of indemnity to be approved by the board.
and receive interest on the same, which
shall be credited to the sinking fund. 1t
shall be the duty of the treasurer when
said bonds, or any coupons attached there
to are paid, to cancel the same by writing
upon the face thereof the word "paid' and
the date of payment. Before the bonds
are delivered to the purchaser the treas
urer of the county shall register them in a
book to be provided for that purpose,
known as the bond register, in which
register he shall enter the number of each
bond, its date, date of maturity, amount, rate
OF interest, to whom, and where payable;
PrOuidcd, That such treasurer shall re-
ceive a per centum, at the discretion of the
board OF county commissioners, not to x
coed l per cent, for the receiving and dis
bursting of the amount received from the
sale OF said bonds, said per centum to be
covered into the treasury as a part of the
salary fund. The board of county commits
SionerS may issue warrants instead of
bonds. if in their Judgment the best inter-
eStS OF the county are therby served; Pro-
pidcd, That such warrants shall not be
issued in any amount to exceed $4,000.
Seq 2. Whereas, an emergency exists.
that there is no provision of law for the dis
posal OF the balance mentioned in this
amendment, this act shall take effect
Immediately from and after its passage
and approval.
Approved February 26, 1891.