The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1911-05-05
ORDINANCE NO. z

AN ORDINANCE PROVIDING FOR
THE ISSUANCE OF BONDS AND
PROVIDING FOR THE LEvYING
OF A TAX THEREFOR.
Be It Enacted by the Park Commits
sioners of the Park District Of the
City of Fargo, North Dakota:
Section /. That the Park Commits
sion OF the Park District of the City
OF Fargo North Dakota, do issue the
negotiable bonds OF the Park District
of the City of Fargo. North Dakota, in
the aggregate sum Of Thirty Thou
sand ($30, 000.0O) Dollars; the proceeds
of such bonds to be used for the sole
and exclusive purposes of purchasing
and acquiring lands for Parks, boule-
wards, and ways. and for the perma-
nent Improvement thereof, including
the erection and construction of build
ings, pavilions, play and pleasure
fields
Sec. 2. Such bonds shall be in de-
nominations of Five Hundred ($500.0O)
Dollars each, shall be issued in four
series Of $7,50O.00 each, maturing as
follows: Series No. 1, April LIST, 1915;
Series No. 2, April LIST, 1921; Series No.
3, April LIST, 1926; Series No. 4. April
LIST, 1881, and shall draw interest at a
rate not to exceed six per cent per
annum, payable annually on the first
day Of April OF each year. which in
terest shall be evidenced by interest
coupons attached to each bond. Such
bonds shall be designated as Park
District Bonds OF 1911 Of the City OF
Fargo, N. d.; shall be numbered con-
secutiveIy from one III to sixty (60)
inclusive; and the President and Clerk
Of the Board of Park Commissioners
of the Park District of the City OF
Fargo, N. D., are hereby authorized
and directed to execute such bonds
with the full and usual recitals and
legality OF and authority for said is
sue, under the corporate seal of said
Park District, and in the execution OF
the interest coupons attached to such
Bonds the signatures OF the President
and Clerk may be litographed and the
said bonds and coupons when so exc
cuted shall be delivered to the Treas
urer OF said Park District, who shall
make proper registration thereof and
when SO registered. said treasurer shall
deliver the same to the purchaser on
payment being made therefor in ac-
cordance with the terms of sale there
Of. to be determined by the Park Com
missioners OF such Park District.
Sec. 8. That in each Of the herein
after mentioned years there shall be
levied and assessed upon the taxable
property within the Park District OF
the City OF Fargo, N. D., the sums re-
spectively as follows:
For each OF the years 1911 TO 1915,
inclusive, the sum OF Three Thousand
Three Hundred ($3,300.00) Dollars:
For each OF the years 1915 to 1920,
inclusive, the sum OF Two Thousand
Eight Hundred Fifty ($2,s50.00) DOL
lars:
For each Of the years 1921 to 1925.
/ inclusive, the sum or Two Thousand
-Four Hundred (s2,400.00) Dollars;
For each OF the years 1925 to 1890,
inclusive, the sum OF One Thousand
Nine Hundred Fifty ($I,yoUJ Dollars:
for the purpose OF paying the inter-
est and principal OF the Bonds issued
under this ordinance, the sums SO lev
led being sufficient to pay the interest
| on said bonds as 1t falls due, and also
to pay and discharge the principal
thereof as the same shall mature. and
the Clerk Of said Park District is here
by authorized and directed In the year
1911, and in each or the years there
after until and including the year 1880
to certify to the County Auditor in
each OF such years the amount required
by this ordinance to be raised by tax
Iation.
| This Ordinance shall take effect and
be in force from and after its passage,
approval and publication
| First Reading, April 1st. 1911.
Second Reading. April 18th. 1911.
/ Approved April Path, 1911.
| Publication May S. 1911
I'll. w. GEAREY,
Attest: President.
WI. CLAPP.
Clerk.