The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1910-07-28

empowered to execute in the name of said
city its negotiable bonds in the amount OF
eighteen thousand dollars, bearing interest at
the rate OF four per cent per annum PAYABLE
seml-annually and maturing twenty years at.
ter date with the option on the part OF the city
to pay one thousand dollars thereof each year
beginning with the fifth year after date there.
of; said bonds shall be i'll denominations OF
one thousand dollars each and shall be num-
bered from ~ to eighteen tlS) inclusive and
shatl have interest coupons attached in the
amount of the annual interest thereon. and
all of said bonds shall be designated as "city
Hall Bonds" The said bonds shall he issued
by virture of and pursuant to the power and
authority vested in the CITY council of said
City at the special election held on June 25th,
l910 at which election the question of issuing
said bonds was legally submitted to the vot-
ers of such city, ut which election there were
ITO votes cast in favor of said bonds and 5
votes cast against said bonds.
Sec! The bonds authorized and descr ned
! in section one Of this ordinance shall be sold
to the state of North Dakota at par to be pur-
chased by said state through the Board of
University and school lands as an investment
of the permanent educational funds OF said
state. and the money arising from such sale
shall lie used by said city for the specific pur-
pose for which the said bonds were authorize
ed by the voters thereof, that is to say; for
| the purpose OF erecting and completing a city
hall, city Jail and fire apparatus house com
bined
Sec. 3. There is her cby levied upon all the
taxable property assessed tor taxation in the
City of Wahpeton. an annual tax of seven
I'M nd cad anh for
the years 1910. 1911. 1912, 1913 1914 1915, 1916,
1917. 1918, 1919, 1920 1921 1929. 1923. 1924 1925
| 1895. 1927, 1928 and l!aa respectively. for the
purpose of raising money to pay the annual
| interest upon the bonds authorized by this
ordinance, as the same shall become due, and
a further sum of nine hundred dollars $500 90,
annually for each OF the years herein named
to create sinking fund to pay the principal
of said bends when due, and the said levies of
taxes shall be annually certified to the coun-
ty auditor at the same time al d in the same
manner as the annual levy of taxes for other
city purposes. and the same shall be collected
as other city taxes, but the moneys accruing
theretrOm shall tie accounted for Ill specia.
funds and applied solely for the purpose OF
paying the interest and principal Of such
bonds as the same shall become due.
See. 4. There is hereby annually apprO.
priated out of the moneys that shall come
into the city treasury from the evies of taxes
made and provided for by this ordinance the
sum of seven hundred twenty dollars t!720.0O)
or SO much thereof as may be necessary to
pay the annual interest on the bonds author
lied by this ordinance, and the further sum
of nine hundred dollars (S900.OO) is hereby arl-
nually appropriated out of moneys accruing
from said sinking fund levy, to be set aside
as sinking fund as provided by law to pay
the principal OF such bonds at maturity.
Sec s. This ordinance shall be and remain
in full force and effect from and after its
passage, approval and publication as required
by law, and shall be irrepealable during the
life of the bonds herein authorized.
First reading july 18th, 1910.
Second reading and final passage July s5th
1910.
Approved July eeth. 1910.
tsEAn FRANK EBERLEY. Mayor.
Attest: IN. OLSON. city Auditor.
WI. FOKgNER, Pres.