The herald-advance. (Milbank, S.D.) 1890-1922, 1896-04-10
COUNTY COMNlES>gONEIsS.
Official PROCEEDINGS of the Board
OF County missioners OF
Grant County. :. I'd.
MILBANk. S. D.. April 6, iS9

Ient: Geo Mitchell, chairman; G. Il.
Holden. Thomas Street and the Auditor
as clerk
The minutes of the previous meeting
were ordered read and the expression
"Board of REIMBURSEMENT was corrected
to read Board Of Adjustment" and after
corrected, approved.
On motion, ordered that following be
spread Oh the minutes:
AIl.BANk, 5. D., April 6, 1896.
At a regular meeting Of the Board of
County Commissioners ot Grant county
South Dakota, With all members and the
County Auditor, the clerk OF the Board,
present, the following proceedings were
had
Commissioner Holden introduced the
following resolution and moyed its
adoption:
/ WHEREAS, The County cf Grant, in
the State Of South Dakota, is now in
debled in the total sum of ninety-tour
T Thousand (9i,OO0) dollars, represented by
!he outstanding bonds OF said county
issued in 1883 and 1882 under special
acts Of the Territorial Legislature
authorizing their ssuance-the saiG
/ bonds issued in 1888 bearing six (d) per
/ cent interest, and the said bonds issued
in 1880 bearing seven tD PER cent inter
est all OF which bonds are now due and
i PAYABLE at the option of said County Ct
j Grant, which said option has been eNer-
cised by the said county. and said
outstanding bonds have heretofore been
! by the said county declared TO be due
and payable on December ]. 1898, and
the same is hereby reaf1irmed and
i declared; ana
WHEREAS, Said outstanding bonds can
now be refunded at a lower rate OF inter
est. and in the judgment OF this Board it
is deemed 10 be to the test interest Of
the county to issue It's negotiable bonds.
as hereinafter provided, with the pro
ceeds ot the sale OF which 10 retire and
pay all OF said bonds now outstanding
Nov, THEREFORE,, BE IT RESOLVED by
the Board Of County Commissioners Of
the County OF Grant, III the State OF
South Dakota, that pursuant to law and
especially with reference 10 the pro-
visions Of Chapter b OF the Acts of the
Second Session Of the Legislature OF the
State Of South Dakota, entitled, "An
act authorizing the funding ot outsfand-
ing bonded and judgment Indebtedness
Of countles," approved March ., 1891,
this Board proceed TO and do issue the
negotiable bonds Of sid County OF
: Grant. in the aggregate sum OF ninety
four thousand f94,cG0) dollars. The
proceeds of sale ef said bonds to be
used for the sole purpose OF retiring ana
paving all uf the bonds now outstanding
against said county. said bonds snail
he known and designated as 'Raiundln2
Bon IS of Grant County, South Dakota,
and shall be IN denominations OF one
thousand { ,eGe1 dollars each. TO bear
! date April q. 1896, to he absolutely due
! and payable on April 6, 1916, and 1T the
option of the county on or alter Aprll
Is. 1866, 10 bear interest at the rate OF
five and one half (1ls) per cent per
annum, PAYABLE seml-annuaily on April
6. and October 4, OF each year. both
, principal and interest PAYABLE at the
. iianove. National Bank, III the lily CT
, New York the bonds TO be made pay
Iable to the purchaser, Or bearer, and TO
be numbered from one i to ninety-loui
: (9l inclusive, coupons TO be attached to
, racn bond representing eacn interest
payment. And the ptoper officers OF
!, satd cuunty. to Wit: lie chairman OF
TINS Board ana the County Auditor are
hereby authorized and directed 10 exc
cute said bond, in proper form, in their
seal o1 salu county 10 The body OF each ot
said bonds, and, when SO executed, tu
deliver them to The County Treasurer, to
!. pe by him duy entered and registered
!, ID the Bond Register and then deliver
. ed to the purchaser in the manner here
: in after provided.
AND BH II FURTHER RESOLVED, That
, in each Of the hereinafter mentioned
~ H. a Itya. ,I,yl ~
and assessed on the taxable property
within said county, in addition TO all
, other taxes, the sums respectively as
; follows: For each u The years 1896 t.
1906 inclusive. the sum Of SO 900 90, and
for eacf OF the years 1907 to 1913 nclus-
i've. the sum OF $4,000 90, for the express
and only purpose of paying the principal
, ana interest Of the bonds issued under
This resoIution,-sad sums SO levied
with the money in the interest and sink
ing fund now on hand and heretofore
levied, being suilicent to pay the interest
: on sad bonds as il falls due, and also 10
: pay and discharge the principal thereof
as tie same shall fall due. And the
i County Auditor, the clerk Of this Board
IS hereby ordered and directed, ia the
wear 1896, and ia each OF the Years there
after until the year 1915. to include the
amount required by tins resolution 70 be
. raised by taxes in each Of said years
respectively, III the an cunt OF the total
county tax levy, and in addition 10 all
the other taxes. and the same shall be
kept as Il sepprale and distinct fund for
! the sole purpose OF paying tie interest
and principal OF the bond issue under
, this resolution.
. That the money now 10 the interest