The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1904-06-08
Mayor.
City Auditor.

same to the City Treasurer who shall
register said bonds in the bond register
Is required by law.
AND BIZ IT FURTHER RESOLVED, That
when such new bonds hereinbefore au-
thorized are executed and registered by
the City Treasurer Is required by Sec
ton 2479 of the Revised Codes Of the
State Of North Dakota, the City Treas.
uree shall deliver the same to the Sec
ond National Bank Of the City Of Minot,
North Dakota, in exchange for . like
amount Of the outstanding Indebtedness
OF this City hereiAbefore referred to and
authorized to be paid by the proceeds of
these resolutions to issue new bonds in
exchange for and in payment OF the said
outstanding indebtedness hereinbefore
described, which is now due and pay
able, and is an undisputed legal and
valid debt of this City.
AND BE IT FuRTHIR RESOLVED, That
a contract for the exchange of the said
Waterworks Bonds for new bonds has
been made with c. G. Gowran & Co., of
Grand Forks, North Dakota, in which
they agree to take the new bonds here
inbefore referred to at not less than their
par value in exchange for the old Water
works Bonds which are now due and
payable and the City Treasurer is here
by authorized and instructed to deposit
the new bonds hereinbefore referred to
at the Second National Bank, in the
City of Minot, North Dakota, to be de-
livered to said G. G. Gowran & Co., upon
and only when they shall deliver to said
Second National Bank like amount of
the old Waterworks Bonds hereinbefore
referred to which old bonds shall be can
celled by said Second National Bank be-
fore any Of the new bonds are delivered
to said G. G. Gowran & Co., it being the
intent of these resolutions to issue new
bonds in exchange for and in payment
of the old Waterworks Bonds hereinbe-
fore referred to without increasing the
indebtedness of this city and the said
Second National Bank is hereby made
and designated the fiscal agent of this
City for the delivery and transfer of the
bonds as herein stated and is hereby
authorized and instructed to cancel said
old Waterworks Bonds before any of the
new bonds hereinbefore referred to are
delivered to said G. C. Gowran & Co.
AND BE IT FURTHER RESOLVED, That
in each OF the hereinafter mentioned
years there shall be and hereby is levied
and assessed upon the taxable property
within the said City of Minot the sums
respectively as follows:
For each of the years 1904 to 1915 in.
elusive the sum Of Five Hundred
(s5OOOO) Dollars, and for each of the
wears 1916 to 1923 inclusive the sum of
Fifteen Hundred (e15OO0O) Dollars.
For the purpose of paying the interest
and principal Of the bonds issued under
these resolutions, such sums SO levied
being sufficient to pay the interest on
said bonds as the same falls due and
also to pay and discharge the principal
thereof as the same shall mature, and
the City Auditor is hereby authorized
and directed in the year 1904 and each
of the years thereafter until the year
1923 inclusive to include the amount re-
quired by these resolutions to be raised
by taxation in each of the years afore-
said in the amount which shall be CERT
fed to the County Auditor as the
amount required to be raised by taxa
ton in the said City of Minot.
AND BE IT FURTHER RESOLVED, That
copy Of these resolutions shall be pub.
lished in the next issue Of the Minot
Independent, the official paper of the
City of Minot.
On roll call those voting in the af
firmative were: Aldermen 0. NJ. Champ
lin, G. o. Frank, D. G. Greenleaf, VIM
Heatherton, T. T. jacobson.
Those voting in the negative were
None.
Absent and not voting: R. W. David
son.
The Mayor declared the resolutions
duly adonted and annroved the same