The herald-advance. (Milbank, S.D.) 1890-1922, 1895-10-11

I
1891, approved March 8, 1891, the Com
missioners Of the County OF Grant. Stale
OF South Dakota, will issue lis negotiable
bonds in the sum Of one hundred lhoue-
and dollars, IN its corporate name tor
tie sole purpose of funding the outs,apd-
ing bonded in ,ebledness existing against
said county, which said outstanding
bonds are hereby declared due and pay
able on the frs, day OF December, in the
wear one thousand eight hundred and
n,nty five.
That said bonds shall he in danomina-
tions OF one thousand dollars, shall bear
dnte December l. 1895 be made payable
to the purchaser. or bearer, pay able in
twenty years from the date thereof, and
in ten wears from the date thereof at the
option IT the said county. and shall bear
in,eres, at the rate OF five per cent per
annum, payable semi-annuallv. with
coupons attached for each interest pay
ment. The bonds and each coupon shall
be signed by the Chairman Of the Board
Of County Commissioners and shall be
attes,ed by the County Auditor The
seal OF the county shall be affixed to each
bond but not to the coupons. Said
bonds shall be engraved or Autographed
recite upon It's face that ii is issued un-
der and pursuant 10 the provisions OF
Chapter 80 Of the Session Laws of the
State of South Dakota, entitled IAN Act
Authorizing the Funding OF Outstanding
Bonds and Judgment indebtedness Of
Counties approved March 8, 1891
Said bonds shall be made payable at
The Hanover National Bank of the City
~ Mt MI
by the successful bidder and the County
Commissioners. Said bonds shall be
sold by the Board Of County Commission
ers at not less than par value to the
highest and best bidder and the proceeds
applied solely to the payment of the ont
standing bonded Indebtedness OF said
Grant County
When said bonds and the several
coupons attached mature il shall be the
duty OF the County Treasurer to forward
the amount due to such place as m,.y be
designated in said bonds out OF any funds
in his hands applicable thereto, so that
the same may be paid at maturity in
accordance with the terms thereof
When said bonds and coupons Gre paid
tho treasurer shall cancel the same by
writing or stamping across the iace Of
each bond or coupon the words Cancel
by payment this ). day Of. inserting
the date OF payment.J'
Before said bonds are issued. they
shall he presented to the County Treas
urer. who shall register them in the
Bond Register in which register he
shall en:er the number OF each bond.
its date, date Of maturity, amount, rate OF
interest, 10 whom payable, and shall also
keep register Of the bonds funded un,t
der the provisions of tins resolution.
That the County Commissioners will
receive sealed bids for the sale and pnr-
chase or Said bonds up to and including
the first day OF November, 4. D., 1895,
at twelve o'clock noon, before which
time al bids, in order to receceive con
sideraton, must be flied with the County
Auditor, at Mlbank, Grant County,
Sou,h Dakota. The County Commits
sloners reserve The right to reject any
and all bids The successful bidder
shal! furnish blanks for bonds
The Board Of County Commissioners
shall each year levy upon the taxable
property ot the county sufficient tax To
pay tho interest on said bonds as The
same accrnes, and reasonable time be
lore maturity. y sufficient tax to provide
4 sinking fund for the paymeat If The
bonds when they mature.
On mo' ion. Boar adjourned 10 Wed.
nesday, Oc,obe: 9. 1895.
GEO MITCHELL,
Attest: Chairman.
N FORsRERG.
County Auditor.