Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1901-03-27
new ROAD LAW
CONCLUDED
Continued from sixth page

said bonds. and the payment Of the interest
thereon; provided. that the total amount of
bonds so issued shall not exceed five per cent
of the taxable property of the district, as shown
by the last equalized assessment book of the
county.
SEC. so. The board OF county commissioners,
by an order entered upon its minutes, shall
prescribe the form of said bonds, and of the in
terest coupons attached thereto, and must Tx
the time when the whole or any part Of the
pracipal of said bonds shall be payable, which
shall not be more than twenty years from the
date thereof.
SEC 81. Said bonds mus not bear a greater
amount Of interest than six per cent per an
num, said interest to be paid annually or semi
annually, and said bonds must be sold in the
manner prescribed by the board ofeounty COM
missioners, but for not less than par, and the
proceeds Of the same thereof must he deposited
in the county treasury to the credit of the bond
fund of said road district. and be drawn out for
the purpose for which said bonds were voted.
in the same manner as other moneys are drawn
out OF other funds of road districts.
SEC. 81. The board OF county commission
ers at the time Of making the levy of taxes for
county purposes, must levy a taz for that year
upon fhe taxable property in such road district
for the interest and redemption Of said bonds,
and such tax must not be less than sudieientto
pay the interest OF said bonds for that year. and
such portion of the principal as is To become
due during such year, and In any event must
be high enough 10 raise annually, for the first
half of the term which said bonds have to run, a
sufficient sum to pay the interest thereon; and
during the balance of the term enough to pay
such annual interest and to pay annually pro-
portion OF the principal Of said bonds equal to
asum produced by taking the whole amount Of
said bond outstanding and dividig it by the
number of years said bonds then have to run;
and all money so levied. when collected. shall
paid into the county treasury 10 the credit of
the road fund of such district. and be used for
the payment of principal aud interest on said
bonds and for no other purpose. The principal
and interest on said bonds shall be paid by the
county treasurer, upon the warrant of the clerk
and recorder, out Of the fund provided there
for; and il shall be the duty Of the clerk and re-
corder to cancel and file with the treasurer the
bonds and coupons as rapidly as they are paid.
SEC. So. II the board Of county commission
ers of any county which has issued bonds under
the provisions of this act shall fail to make the
levy necessary to pay such bonds or interest
coupons at maturity, and the same shall have
been presented to the county treasurer. and the
payment thereof refused, the owner may file
the bond, together with all unpaid coupons,
with the state auditor. taking his receipt there
for, and the same shall be registered in The
state auditors office; and the state board of
equalization shall. at their next session and at
each annual equalization thereafter, add to the
state tax to be levied in said district a sufficient
rate to realize the amount Of principal or inter-
est past due, prior to next levy, and the same
shall be levied and collected as a part ofthe
state tax, and paid into the state treasury, and
passed to the special credit of such district
boEd tax, and shall be paid by warrants ns the
payments mature, to- the holder of such regist-
cred obligations, rs shown by the registerin the
Office of the state auditor, until The SAINT shall
be fully satisfied aud discharged; any Balance
then remaining shall be passed to the general
account and credit Of said district.
' SEC. 81. Whenever any bonds issued unde
the provisions OF this act shall remain unsold
for the period Of six months after having been
offered for sale 1.-THE manner prescribed blythe
board of county com issioners. the board OF
trustees or other governing body of the road
district for or on q of which such bonds
were issued, or of any road district composed
wholly or partly Of territory which, at the time
of holding the election at which such bonds
were voted, was embraced within the district
for or on account of which such bonds were
Hfaa,,.l tn.,, ,.tsss., 4 l..-l
missloners 10 cause such unsold bonds to be
Withdrawn from market and cancelled. Upon
receiving such petition, signed by majority OF
the members of the board of trustees or other
governing body Of said road district. the county
commissioners shall fix a time for hearing the
same, which shall not lie more than thirty days
thereafter, and shall cause a notice. stating the
time and place of hearing and the object of the
petition in general terms, TO be published for
ten days prior to he day of hearing in some
newspaper In said road district. II there is one
d. and If there is no newspaper published in said
road district, then in a newspaper published a.
the county seat of the county in which the roac
district or some part thereof is situated. Attht
time and place designated in the notice fnI
hearing said petition. or at any subsequent tim
to which said hearing may be postponed, thu
county commissioners shall hear any reason.
that may be submitted for or against the grant,
ing of the petition, and if they shall deem 1t fol
the best interest of the road district named in
1.-The petition that such unsold bonds be can
celed they shall make and enter an order in tn,
minutes of their proceedings that said unsolc
bonds are Cancelled. and thereupon said bonds
and the vote by which they were authorized Il
be issued, shall cease to be of any validity
whatever; and all expenses which may be in
Cured by the board of county commissioner
in advertising such bonds or in selling sucl
bonds shall be paid from the contingent funt
Of the county.
SEC IS. Anyten freeholders of a road dis
trict, taxable therein for road purposes. ma,
petition, In writing. the board of county com
missloners to alter or discontinue any highwa,
or to lay out a new highway therein. When
highway Is petiioned for upon the diyidin.
line between two counties the same cours,
must be pursued as in other cases, except tina
acopy OF the petition must be presented to III
board Of county com issioners Of each county
who must appoint viewers 10 act jointly and re
4. port to their respective boards the action @
such viewers.
SEC, SO. The petition must set forth and de
scribe particularly the highway to be aband
oned. discontinued altered or constructed. an,
If the same Is to be altered, laid out or con
siructed the general route thereof. over win
lands, who are the owners thereof. whctht
such of them as can be found consent thereto