The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1905-07-26

I
members voted as follows Swanson,
yes; Richardson, yes; Carroll, yes; Black,
yes; T0rbenson. absent.
Resolution of the board OF county com
i missioners Of Ward county, North la
kota, relative to the insurance of the
negotiable interest coupon bonds of
the county in the aggregate amount
of $4,000 to fund like aggregate
amount on the outstanding warrants
of the county, and prescribing the
forms of bonds and coupons and fixing
the other details of the issue, includ-
/ ing the levy of tax sufficient to pay
the interest and principal of the bonds
when due.
WHEREAS, At meeting of the board
OF county commissioners of Ward coun-
ty, N. D.. duly and regularly held on the
9TH day of July, A. u. 1905, it was or
dered and directed that the negotiable
coupon bonds of said Ward county be
issued to the aggregate amount of $780,
OOO, dated July l, 1905, bearing interest
at the rate of 312 per centum per an
nun, payable semi. annually, and paya-
BILE twenty years from date, for the
purpose of funding like amount of
outstanding and valid indebtedness of
said county, evidenced by the legally
issued and outstanding warrants of said
county: and
WHEREAS, Said bonds have been sold
for an amount in excess of the par value
thereof, with accrued interest, to Arthur
B. Wright, of the city of Chicago and
State of illinois. Now, therefore,
Be it resolved by the board of county
commissioners of Ward county, North
Dakota:
Section l. That the negotiable cou-
pom bonds of said Ward county, North
Dakota, to the aggregate amount of
S15O,OOO heretofore authoiized to fund
like amount of the valid indebtedness
OF said county, represented by its legal
issued and outstanding warrants men,
toned in the preamble hereof, are here
by ordered and directed to be issued.
Section 2. That said bonds shall be
designated as funding bonds; shall
consist of $50 bonds, of the denomina-
ton of SlOOO.OO each, numbered from l
to $50 both inclusive; shall bear date of
July LIST, A. d. 1905; shall become due
and payable twenty years from and af-
ter their date; shall bear interest at the
rate of ~ per centum Per annum. pay
able semiannually on the first days Of
J January and July in each year, which
shall be evidenced by proper interest
; bonds: and both principal and interest
of said bonds shall be payable at First
National Bank of Chicago, in the city OF
Chicago and State of Illinois.
Section g. That each of said bonds
and each of the interest coupons thereto
attached shall be in substantially the
, following forms, respectively, to wit
, (FORM OF BOND
UNITED STATES OF AMERICA.
State of North Dakota, County of Ware
FUNDING BOND.
No. ..... 100000
Know All Men BY These Presents
/ That the County of Ward, IN the State
of North Dakta, acknowledges itself tt
owe, and for value received hereby
promises to pay to the order of Arthur
B. Wright, the sum of ONE THOUSAND
!, DOLLARS, lawful money of the UniteC
States of America on July 1st, A. D
, 1925. with interest thereon from the
date hereof until paid at the rate o.
-Four and One Half (41s) per centum pei
annum, payable semi-annually on thu
, first days of January and July in each
} year, upon presentation and surrende
of the interest coupons hereto attached
, as they severally become due: bott
, principal and interest payable in Lawful
money of the United States of America
aC.... -. lr
the city or. ..............., III
} sIate oI.... AnC
: for the prompt payment of this bond
, with interest as aforesaid at maturity
: i the full faith, credit and resources OF
said Ward County are hereby ir1evoc
ably pledged.
This bond is issued by said county fol
the purpose of funding at lower rate
of interast like amount of the out
, standing valid and binding indebted
ness of said county represented by the
legally issued county warrants of said
county under and pursuant to resolu.
tons duly and regularly passed by the
! board of county com missioners of said
county, and pursuant to and in full &C
, cordance with the constitution of North
! Dakota and with the provisions of Arti-
: Gle XVII of Chapter e of the Political
Code of North Dakota for 1899, and all
acts amendatory thereof and supple.
mental thereto. that portion of said arti.
Z: Gle XVII which relates to the issuance
of funding bonds being printed on the
back hereof.
And it is hereby certified and recited
, that all acts, conditions and things re.
, quired by the laws and constitution OF
, the state of North Dakota to done pre-
cedent to and in the issuance of this
bond have been properly done, happened
and been performed in regular and due
form and time as required by law; that
the outstanding indebtedness to be fund
ed by this bond is and was at the time it
was incurred legal, valid, binding and
subsisting indebtedness of said county,
evidenced by the county warrants OF
said county, that provision has been
made for the collection of an annual tax
sufficient to pay the interest and also
the principal hereof when due; and that
!, the total Indebtedness of said county,
inclu ling this bond, does not exceed
any statutory or constitutional imita-
ton.
| In Witness Whereof, the said County
of Ward, by its board of county com
missioners, has caused this bond to be
signed by the chairman of said board OF
county commissioners and attested by
the county auditor of said county, and