Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1891-03-20
ARTESIAN
III. b. No. ISL

An Act. to Enable Civil Townships to Issue Bonds
for the Purpose of Sinking Artesian Wells, and
to Provide for Locating the Same.
Be ii Enacted, etc.:
SECTION !. That AT any annua! or special town
meeting in any regularly organized township in this
State, the question of bonding said township for the
purpose OF sinking one or more artesian wells, or of
improving natural springs In said township, may be
submitted to the vote of the people; Pynuhk.sa, The
notices posted by the town clerk, AS required by law,
contain a notice of such proposed bonding.
SEC. =. When thrce-fourlhs of the legal voters
voting at such town meeting as described in Sec.
ton of this act shall vote in favor of bonding, it
shall be the duty of the town board of supervisors,
to forthwith issue the bonds of said township in the
denomination or denominations which thew shall
deem best, but which shall not aggregate more than
Il given amount specified by vote 1T the aforesaid
town meeting; The concurrence Of a majority of
the township board OF supervisors shall be sufficient
to lcgallzc The issuing of township bonds under this
act. All bonds issued under this act shall bear in
terest at the rate of seven ~ per cent: per annum,
payable semi annually; the bonds and the interest
thereon to be paid at such place and times as the
township board may designate; Pro7ihrd. ho.vr7r,,
Thar SAID bonds shall be payable in not less than
five nor more than ten years.
SEC.3: Said bonds shall be signed by the chair
man of the board of township supervisors, and at
tested by the clerk Of said township; said bonds
shall also be verified by both chairman and clerk
that the bonds arc issued in accordance with the
provisions of this act, and are within the debt limit.
SEC. 4. 1t shall be the duty of the township
board to receive sealed bids for the purchase of said
bonds, after having given thirty days notice in such
manner as they may deem best; said bonds shall be
sold to the highest bidder for cash, and shall not be
sold Tor less than their par value; ProJhde1, That
the township board of supervisors shall have au-
thority to reject all bids and postpone the sale of
sad bonds tor a time not to exceed ten days. >,
SEC. 5. The proceeds arising from the sale of said
bonds shall be paid by the purchaser thereof to the
treasurer of said township, or to his authorized
agent upon the delivery of said bonds; and such
township board. The treasurer of any township
board may be required to give additional bonds,
with sureties to be approved by the board of town
ship supervisors, before or after the proceeds of
said bonds are turned over to him.
SEC. 9. Said board of township supervisors shall
lew a tax at the time and IN the manner that other
taxes are levied, sufficient to pay the interest as it
falls due on the said bonds and also a sinking fund
tax sufficient to take up the bonds when they be-
come due, neither the interest fund nor the sinking
fund shall be used for any other purpose than that
tor which 1t is levied; ProUh2ed, ho1vcuey, That the
sinking fund may be deposited or loaned in any safe
place for the purpose of earning interest, which
shall be credited to the sinking fund, and ProOidek,
JmrlHer. That any balances remaining in said fund
after the payment of SAID bonds shall be transferred
to any other township fund or funds designated by
the township board of supervisors.
SEC. 7. The township treasurer shall receive ont
per cent. for handling the proceeds received from
the sale of said bonds. Upon the payment of any
OF the said bonds or the coupons thereto attached, il
shall be the duty of the township treasurer to cancel
the same by writing the word paid" across the face
of the same and the date of payment. The town
ship, treasurer shall also keep a record of these
ponds showing GATE, maturity amount, rate OF inter
est, TO whom and where payable; and when any in
tercst coupon is paid, it shall be credited upon
such record, giving date of payment. All moneys
derived from the sale of bonds, as provided ir
this act, shall be kept as a separate fund anc
supervisors in making such wells as a
majority of the freeholders of said township shall
think desirable; Prozided That such portion Of
said fund as shall not be used in making said wells
may at the discretion of the supervisors be trans.
terred to the sinking fund for the payment of sale
bonds. Before locating a well under the provisions
OF this act it shall be the duty of the board opsu'
ura! waterways of their township, and the first wei
shall be placed as nearly as practicable. at the head
of the longest natural waterway in said township
! unless by a vote of two.thirds Of the freeholders Of