The herald-advance. (Milbank, S.D.) 1890-1922, 1896-04-10
COUNTY COM
official PROCEEDINGS of the Board
OF County mmi>sioners OF
Grant County. =. ID.
MII.BANk, S. y. 4. April 6,

ent: Geo Mitchell, chairman; G. H.
| Holden, Thomas Street and the Auditor
as clerk.
The minutes of the previous meeting
were ordered read and the expression
Board of Readjustment" was corrected
to read Board of Adjustment" and after
corrected, approved.
! On motion, ordered that following be
spread on the minutes:
! MILBAAk, 5. ID, April 6, 1896.
At a regular meeting Of the Board OF
| County Commissioners OF 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 Ct Grant, in
ne State Of South Dakota, IS now IN
debted in the total sum OF nlnety-tou:
thousand (94000) dollars, represented by
The outstanding bonds of said county
issued in 1883 and 1885, under special
acts Of the Territorial Legislature
/ authorizing their issuance the sald
bonds issued in 1888 bearing six (6) per
cent interest, and the said bonds issued
in 1850 bearing seven (O per cent inter
est. al of which bonds are now due and
payable at the option Of said County O
Grant. which said option has been eNer
cised by the said county, and SAID
outstanding bonds have heretofore been
by the said county declared 70 be due
and payable on December i. 1890, and
} the same is hereby reaffirmed and
declared; and
WHEREAS Said outstanding bonds can
now be refunded 1t II lower rate OF inter
. est, and in the judgment OF this Board IL
is deemed to he to the hest lnleres, Of
the county to issue its negotiable bonds,
as hereinafter provided, With the pro
ceeds OF the sale OF which to retire and
+ pay all OF said bonds now outstanding.
Now, THEREFORE,, BE IT RESOLVED by
: tie Board Of County Commissioners OF
the County OF Grant, III the State ol
South Dakota, that pursuant TO law ana
! especially with reference 10 the pro
!, visions OF Chapter 3 or the Acts OF the
J Second Session oi the Legislature OF the
State OF South Dakota. entitled, AN
act authorizing the funding OF ontstand-
:, ing bonded and judgment Indebtedness
! Of countess approved March =, 1881
. this Board proceed 70 and do issue the
G Grant. In the aggregate sum Of ninety
j fonr thousand l94.pGO dollars The
q proceeds of sale Ct said bonds to be
y used for tie sole purpose Of retiring and
. paving al of the bonds now outstanding
e against said county. SAID bonds shal
Q be known and designated as "Rafundlne
Bonds Of Grant County, South Dakota,
and shall be in denominations Of one
thousand a .OGNl dollars each. 70 beal
e date April s, 1896, to he absolutely due
! and payable on April 6, 1916. and at the
, option of the connty on or alter Apri
6, 1866. TO bear Interest at the rate o.
five and one half (5is) per cent pei
annum, pay able seml-annuaily on Apr
6. and October 4, OF each year, boti
a principal and interest PAYABLE at the
q Hanover National Bank, III the olly ol
. New lork-the bonds 10 be made pay
: able to the purchaser, or bearer, ana to
4 be numbered from one { u to ninety ioul
Z (9i) inclusive, coupons TO De attached t
i ,acn bond representing eacn interest
i. payment. And tie proper officers o1
q sad county, to Wit: The chairman O
I TINS Board ana the County Auditor a.e
! hereby authorized and directed 10 exc
cute said bonds III proper form, IN thell
official capacities, ana ailiN the olhcla
seal OF SAID county 10 The body 81 each o
said bonds, and, when 50 executed, t
!, deliver them to tile County Treasurer, (
: be by him duly entered and registered
!, ia the bond Register and then deliver
:. ed to the purchaser III the manner here
: in after provided.
! AND BE IL FURTHER RESOLVED, Tha
= in each Of the hereinafter mentioned
4 years tDere shall be, and is hereby leviet
r aud assessed on the taNable plopert,
: within said county, in addition 10 al
Il other taxes, the sums respectively a
y follows. For each oi the years 1896 I.
!. 1906 inclusive, the sum Of s6 600 %, anu
for eacn of tho Years 1907 to 1919 inclus-
:. i've. the sum OF $4,000 90, for the expires!
) and only purpose OF paying the prlnclpa
d and interest Of the bonds issued unde
] this resolution, SAID sums 50 levied
r. with the money in the interest and sink
ing fund now on hand and heretofore
levied, being sufficient to pay the lnteres
! on SAID bonds as it falls due, and also K
pay and discharge the principal thereo
as the same shall fall due. And lht
i County Auditor the clerk of this Board
i is hereby ordered and directed, in tht
!, year 1896, and IN each Of the years there
! after until the year 1919, to include lht
i amount required by thls resolution to b
:, raised BY taxes, in each Of said years
S respectively, in the al cunt Of the tota
county tax levy, ana in addition TO al
the other taxes. and the same shall BE-
Kept as seperate and distinct fund fol
e the sole purpose Of paying the interes
: and principal OF the bond issue undel
q this resolution.
"a That the honey now ia the in.eras