The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1911-04-12

ana snail nave coupons attached lOf
{ the interest as 1t becomes due, said
coupons being so arranged that the
OF the bonds. Said bonds and the
coupons thereto attached shall be
signed by the county commissioners
and countersigned by the county
clerk of the county. Each bond shall
have endorsed thereon a certificate
signed by the county clerk and county
attorney of the county, stating that
the said bond is issued pursuant to
law and that said issue is within the
'ebt limit of said road improvement
district. Said bonds shall be register
ed in the office of the state auditor
and a transcript of all the proceedings
in the establishment of such road
| improvement district and in the vot
ing of such bonds shall be filed there
| with. Upon finding that all the pro-
ceedings have been regular, the bond
commissioner shall so certify upon
each and every one of such bonds and
shall also certify the same to the
| county clerk of the county in which
such road improvement district Is To-
Gated, who shall thereupon register
the said bonds in his office, whereup-
on such bonds shall be negotiable and
4 T. a ~ q or hu ha
disposed of by the board of county
commissioners for not less than the
par value thereof, and the proceeds
OF the same used by the board of
county commissioners for the estab-
lishment and improvement Of public
highways within such road improve
ment district as set forth in the pc
tition provided for in section one of
this act
Section 4. 1t shall be the duty of
the board of county commissioners
of each county to levy, annually, upon
all the taxable property and each road
Improvement district in such county,
tax sufficient to pay the interest
accruing upon the road improvement
district bonds" issued for such dis.
trict, and to provide a sinking fund,
for the final redemption of the bonds,
such levy to be made with the an.
nual levy of the county, and the taxes
wit ut ,bo,,
collected shall remain in the hands of
the county treasurer as a specific fund
for the payment of interest upon such
bonds and for their final payment at
maturity; provided. that moneys in
the hands of the county treasurer be-
longing to the sinking funds Of the
several road districts in such county
shall be invested by the county treas
urer first. in the bonds of the dis
trict to which said sinking fund be-
longs; provided, such bonds can be
purchased at price not exceeding
their par value with accrued interest
Second, in the bonds of school dis
tricts of the state maturing before
the bonds for which such fund is
raised; provided, that the same can
be purchased at price not exceed
ing their par value with accrued in
terest. Third, in the bonds of the
state of Oklahoma or of the United
! States.
Section ). Upon any road improve
ment district voting in favor of the
issuance of bonds as provided in this
act the board of county commission
ers shall adopt a resolution express.
ing the determination of the board
| TO proceed with the improvements,
defining the extent, character and
width of the Improvements. stating
the material to be used and the man
ner of construction, and such other
matters as are necessary, and shall
instruct the county engineer to pre-
pare the necessary plans, plate, pro-
files, specifications and estimates, and
ME same WIN the county clerk, SAID
resolution shall set forth any such
reasonable terms and conditions as
the board OF county commissioners
shall deem proper, with reference to
the letting OF the contract and the
provisions thereof. and that the con-
tractor shall execute a good and suf-
ficient bond in an amount stated IN
such resolution. conditioned for the
faithful execution of the work and
the performance of the contract, and
for the protection Of the county. the
road improvement district. and all
property owners interested. against
any loss of damage by reason of neg
ligence or the improper execution of
the work. Said resolution shall also
direct the county clerk to advertise
for sealed proposals for furnishing
the material and doing the work nee
g,, NJ.