The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1905-07-26
funding band dated.
1905, No.
Chairman of the Board of
County Commissioners.
Atteft,

b. :.
Chairman Of the Board of
| County Commissioners.
i County Auditor.
County Auditors Certificate)
STATE OF North DAKOTA,
County of Ward. 3D.
County Auditor of the County of Ward,
in the State of North Dakota, hereby
certify that the within bond is issued
| pursuant to law and is within every debt
limit imposed by the constitution or
laws OF the State of North Dakota on
said county.
WITNESS my official hand and seal
this. day Of. ..............
A. D. 1905
[sEAL .....................
County Auditor.
60 be printed on back of each bond.)
Article II OF Chapter 26 Political Code
North Dakota fos 1899.
COUNTY BONDS.
Sec. 2O35. BONDS, How Issued. Dis
| PUTED CLAIMS.
Each organized county IN this State
ia authorized and empowered by and
through it's board of county commission
ers, when in the judgment of said board
it is deemed to ba to the best interests
of the county, to issue its negotia BILE
bonds in the name of said county, for
the sole purpore of funding or refunding
the outstanding indebtedness of such
county represented by the county war
rants, bonds or orders of such county, or
for the purpose Of funding and paying
claims against such county which have
heretofore been disputed, but which
may have been or may hereafter be adj
justed aud allowed by such board; or
for the purpose of paying any final judg
ment which may have been rendered
against such county: provided, that the
board in making settlement of disputed
claims shall not allow interest at a
mum; provided, however, that no county
shall in any event issue its bonds in any
amount which, with it's prior bonded
indie btedness, will exceed the maximum
Indebtedness allowed by law; but the
issuing of new bonds in lieu of outstand-
ing bonds or Indebtedness shall not be
considered as the creation of new
debt.
Section 2037. BONDS. RATE OF IN
TEREsT. MODE OF ISSUE. Said bonds
shall be in denominations of not less
than one hundred dollars nor more than
one thousand dollars, shall bear the
date of their issue, and shall be made
payable to the order of the purchaser in
not less than five nor more than twenty
years from their date, and bear interest
not to exceed six per cent. per annum,
payable semi with coupons at
tached for each interest installment:
said bonds and coupons shall be signed
by the chairman OF the board of county
!, commissioners and shall be attested by
the county auditor. The seal of the
county shall be affixed to each bond but
not to the coupons. Such bonds shall
be printed, autographed or engraved on
bond paper, and each bond shall state
on its face that it is issued in accord
ance with the provisions Of this article,
and that portion of this article relating
, to the issuance of funding and refund
ing bonds shall be printed on the back
of each bond. Such bonds may be
: made payable anywhere in the United
States.
Section 2O3s. BONDS MAY BE Elk
CHANGED OR SOLD. Said bonds may be
i exchanged at par value for an equal
, amount of Indebtedness of said county
with the holder of such indebtedness,
, whether evidenced by county warrants,
bonds or orders. judgment or adjusted
= claim, or said bonds may be sold by the
board at not less than par value; and
, the proceeds applied solely to the pay
ment of the indie tedness for which they
, were issued. A record of each bond so
, issued, it's date, amount, rate of interest,
received therefor, to whom sold, and
| bou fha 1iSnNco1 Of opI
it shall be the duty of the county audi
} tor to keep duplicate account Of the
same.
Section 2O39. TAX TO BE LEVIED.
}, The board of county commissioners
shall levy each year upon the taxable
property of the county sufficient tax
} to pay the interest on said bonds as the
same accrues, and reasonable time be-
fore maturity sufficient tax to provide
sinking fund for the payment Of the
bonds when they mature.
Section 2O40. County TREASURER TO
PAY, WHEN. When said bonds and the
coupons thereto mature, it shall be the
duty of the county treasurer to pay the
same on presentation out of any funds
in his hands applicable thereto; and he
shall then cancel them by writing or
stamping across the face of each coupon
or bond the words "pay this -. day
Of. ....." (inserting the date of the
payment).
Section 4042. BoNDs NEGOTIABLE,
WHEN Bonds issued in substantial
conformity with this article shall in law
be deemed negotiable. .-..--
Section 4. That each of said bonds
shall be signed by the chairman of this
board and attested by the county audit
or of said county, and the seal of said
county affixed thereto, and each of the
interest coupons attached to each of
said bonds shall be executed by the Or
iginal or Autographed FAC SMILE sigma
lures of the chairman of this board and
of said county auditor.
Section 5. That each of said bonds
shall have endorsed thereon a certifi-
cate by the county auditor stating that
such bond is issued pursuant to law and
is within the debt limit: and record of
each bond shall be kept by the county
treasurer showing the number of such
bond, its date, amount, rate of interest,
when and where payable, the amount
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