The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1892-09-12
REFUNDING COUNTY BONDS.
The Supervisors and the Indebted
ness of 1872.
District Attorney Ryan Says the State
May Be Bidder-The Neces-
sary Legal Steps Taken.

The Board of Supervisors finished up
its session Saturday forenoon. All of the
members were present, and Mr.. Greer
presided.
The matter of refunding the county
bonds of 1872 was taken up, and the
Chairman called for report from the
committee 10 which the matter was re-
ferred. This committee consisted of
District Attorney Ryan, Auditor john
son and Supervisor Miller.
Mr.. Ryan spoke for the committee.
He said that the bonds referred to were
thirty-year bonds, but the Act under
which they were issued provided that
they could be called in at the end of
twenty years, should it be so desired, by
giving six months notice. The latter pre-
caution had been attended to, and the six
months would expire in November. 1t
would be necessary for the board 70 issue
new bonds, and he advised that great care
be taken, SO that there would Ice no Ques-
ton as to their legality The committee
had prepared resolution for the Board
the first step i'll the proceedings which
covered the law in the case. The reSolu-
ton was as follows:
WHEREAS, The county of Sacramento has
at this time an outstanding Indebtedness o.
S22O,0OO, cvidence1 by bonds Issued by the
county of Sacramento in its corporate name
OF the "board of Supervisors of tie County Of
Sacramento" in pursuance of an Act TO au-
tEOFlZe tie county of sacramento to issue
bonds, approved March 8, 1872, and which
sad bones are known as sacramento County
bonds Of lS12'; and, whereas, this Board of
Supervisors deems ii for the pubic interest
that said Indebtedness be refunded, and that
BOMBS of tile county OF Sacramento issue
tner--or; therefore, il is hereby
IrcSOtCed anu ordered, That said indebted
ness be refunded, and That bonds OF this
coGnty therefore be issued, sal. bonds to be
III sums al 81 ,0CO, and not To exceed in the
aggrtg gate the sum OF $22O, 900, said bonds 10
Uafy, 1888, and To bear Il rate OF interest OF
per cent. per annum, payable semi-annualiy,
On the first day OF January a4ld the flrst day GA
july OF each year, and said bends TO be issued
in pursuance OF and to conform in all re-
spects to the requirements Of an Act OF the
legislature OF me State of California, en-
uued An Act to establish Il uniform system
OF county and township governments" APP
proved March ID, 1883, as amended by an
act approved March 16, 1889.
Supervisor Bates moved for the adop-
ton OF the resolution and a unanimous
vote in the affirmative was the result
Mr.. Ryan informed the board that it
had been lntimated to him that the State
would take The new bonds Immediately
at per cent. But there was no need Of
hurry. a certain form of advertising
for bids, etc., had to be gone through
with and it was not improbable that
somebody would underbid the State, by
means OF Offering premium.
a motion to authorize the Auditor to
proceed at once to prepare the bonds in
accordance with the resolution and report
at the next session of the board, was
adopted.
The board audited a number of bills
and then adjourned.