The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-04-19
N CAN BE SOLD.
Normal School Bonds can be Disposed
Of Later.

@E"1
Of Later.
According to Attorney General Don
ovan, who has prepared an opinion on
the subject, the state treasurer can
dispose of the bonds authorized by the
last legislature to raise money for the
erection of another state normal
school building, regardless of the fact
lat the date set for the sale of the
bonds has passed without any bids
having been received.
In his opinion the attorney general
holds that it was clearly the intention
of the legislature to sci the bonds
for the purpose of building and equip
ping a dormitory for the school, and
that the date fixed for the sale of the
bonds was not essential in carrying
ont the purposes set forth in the bill
enacted. While the sale of the bonds
at auction vas intended to induce COM
petition, the main object sought was
the benefit of the state. and if it could
not be done in that manner, the act put
no limitation upon the power OF the
state treasurer to accept the best ;,ffer
made for the bonds.
About a month ago, State Treasur-
Barrel advertised for bids for $780, 900
worth of bonds, the money to be used
inthe erection and equipment of the
dormitory building in connection with
the state normal school, the bids to
be submitted April 6. Not a bid
was received by the state treasurer
up to that date, and none have since
been submitted. With this state Of
affairs confronting him, the state
treasurer was in doubt as to whether
the new law, authorized him to sell
the bonds after the date set for the
bids to be received.
Mr.. Barrett accordingly asked the
attorney general for an opinion as to
whether the bonds could be sold in
view of the fact that the day set for
the sale to be made had passed. Two
questions were asked, first, if the
bonds could be sold after April 6; and
second, how should he proceed in
making the sale. to which the attor-
ney replied:
you state that under the provi-
sions of house bill 1876, providing for.
the issuance of $4,000 to raise money
for the building and equipment of a
dormitory building for the state nor
NAL school, you published a notice of
sale of said bonds as provided for in
said bill, and asked for bids on said
bonds onApril 6, 1901. That on said
day no bids were received, and the
bonds have not been sold. You ask,
first, if Notwithstanding no bids were
received for said bonds on the 9Th,
can you sell and issue the bonds after
the 9Th? Second, if so, what should
be tne manner of procedure in making
the sale?
in reply would say, that said bill
is entitled AN act for the erection,
furnishing and equipment of a dormi-
tory building and for the installation
of a heating plant for the state nor
NAL school, and providing for the. is
suance of bonds to raise money there.
FORE
Section enc of said. act provides
for the issuance of bonds to the
amount OF $40, 900, to baer date May
l, 1901. Section two provides that the
bonds provided for in section one,
Ct said act, shall be sold and issued
he%reinafte, provided. Section three
States the security upon which the
bonds are based. Section four pro-
vides for the disposal of the moneys
from the state normal school
lands. and the payment of said bonds.
Under a statute providing that if
any township voted the aid to rail
roads, which was authorized, it shall
within 60 days after the question of
al is determined by. a vote of tn eelec-
tors * Is s. issue it's coupon bonds for
the amount so determined to be grant
ed.
1T was held that the word shall
as used in the statute. undoubtedly
gives the township officers the whole
of the go days to get the bonds out,
but it certainly does not imply that if
they fail to do voluntarily within the
time they cannot be compelled to do
SO afterwards. And if they can be
to. do so, it necessarily fol
lows that they should do it voluntarily.
1T is clear that it was the intention
of the legislature in %enacting this law
raise $40, 1000 by the sale of the
bonds mentioned for the purposes set
in the act. The date fixed when
said bonds were to have been sold
was not essential in carrying out the
purposes of the legislature, it being
the intent in fixing the date of
the sale, that it should be as soon as
possible. and the manner ofsale by
auction to induce competition, that
the state should have the benefit of
competitive bids. The object was the
benefit of the state and to protect
those who might bid from favoristism
by the treasurer in making the sale.
''The requirements in the act as to
the time when bids were to be receiv-
ed and bonds sold, was not intended
as a limitation upon the power of the
treasurer to accept a BID at a later
date, but was clearly intended to al
him to accept the most advanta-
geous offer made upon the date fixed,
in case any bids were received, the