Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1900-01-26

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be cancelled and surrendered, or such
an mount thereof as will keep the
total obligations of the county at all
times within the legal limit of in
~debtedness; and
Be it further resolved, That the seal
bearing the impress "Seal of the
county of Ramsey, North Dakota
with a sheaf of wheat in the center, be
and the same is hereby declared to be
the official seal of Ramsey county; and
Be it further resolved, That all pro-
ceedings of this board heretofore had
are hereby rescinded.
Which resolutions we're duly
seconded, and IN roll call duly adopted
by the following vote, to-wit:
Commissioners Anderson, .VanLiew,
Baker, Day and Mccormick, voting
"Aye" and none voting "No."
tions duly adopted.
Commissioner VanLiem introduced
the following resolution and moved its
adoption:
Whereas. The county of Ramsey has
an outstanding Indebtedness amount
ing to five Thousand [500O.O0] dollars,
represented by warrants or orders of
said county, all Of which warrants or
orders are undisputed legal obligations
of said county of Ramsey; and
Whereas, in the judgment of this
board it is deemed to be to the best
interests of the county to issue fund
ing bonds as hereinafter provided,
with the proceeds of sale of which to
retire and pay all of such outstanding
Indebtedness.
Now therefore, Be it resolved by the
board of county commissioners of
the county of Ramsey, in the state of
North Dakota, that pursuant to law,
and especially with reference to the
provisions of article II of chapter 26
Of the revised codes of the state of
North Dakota, of 1895, being sections
2O35 to 2042 inclusive, this board pro-
coed to, and do issue the negotiable
bonds of said county of Ramsey in the
aggregate sun of five thousand
(S5,O00.00) dollars. The proceeds of
sale of such bonds to be used for the
sole purpose of retiring and paying
such outstanding Indebtedness.
Such bonds to be denominations of
one Thousand [sl,O00.O0l dollars each;
to bear date March 10, 1900; to mature
March 10, 1920; to bear interest at the
rate of four and one-half [41a] per
centum per annum, payable semi
annually on the 10Th day of March
and September in each year; both
principal and interest to be made pay
able at the Metropolitan National
bank of Chicago, in Chicago, Illinois;
the bonds to be made payable to the
purchaser or order, and to be num-
bered co%nsecutively from one III to
five Isl inclusive; and to be designated
Ramsey county funding bonds of
1900" Principal and interest to be pay
able in United States gold coin of the
present standard of weight and fine
ness.
And the proper officers of said
county, to-wit: The chairman of this
board and the county auditor are
hereby authorized and directed to
execute such bonds in proper form,
and when so executed to deliver them
to the county treasurer, to be by him
delivered to the purchaser, as herein
after provided.
And be it further resolved, That in
each of the hereinafter mentioned
years there shall be levied and assessed
on the taxable property within said
county of Ramsey the sums respect
lively, as follows:
For the year the sum of two hundred
and fifty [s25O.OOl dollars. For each of
the years 1901 to 1914, inclusive, the
sum of two hundred and fifty [S250.00]
dollars; and for the years 1915 to 1919
inclusive, the sum of twelve hundred
and fifty ]S1250.OOl dollars for the pur-
pose of paying the principal and in
terest of the bonds issued under this
resolution, said sums SO levied being
sufficient to pay the interest on such
bonds as it falls due, and also to pay
and discharge the principal thereof as
the same shall mature.
And the county auditor, the clerk of
this board, is hereby directed in the
year 1900 and each of the years there
after until the year 1919 inclusive. to
include the amount required by this
resolution to be raised by taxes in
each of the said years respectively, in
tie amount of the total county tax
levy.
And be it further resolved, that a
contract of sale of such bonds having
been made by this board with f. r.
Fulton & Co., Of Chicago, Illinois,
their bid being the highest and best
bid made, and not less than par, the
said bonds shall be made payable to
the said f. r. Fulton g. Co., or order.
And the county treasurer is hereby
directed to deliver to said F. r. Fulton
& Co., or order. at the First National
bank of st. Paul, Minnesota, such
bonds properly executed upon full
payment being made therefor; provided
however, that no bonds be issued and
delivered until a like amount of the
outstanding indebtedness of said
county be cancelled and surrendered,
or such an amount thereof as will keep
the total obligations of the county at
all times within the legal limit of in
debtedness.
And be it further resolved, That the
seal bearing the impress "Seal of the
county of Ramsey, North Dakota
with a sheaf of wheat n the center be
and the same is hereby declared to be
the official seal of Ramsey county; and
Be it further resolved, That all pro.
ceedings of this board heretofore had
in conflict herewith be and the same
are hereby rescinded.