The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1911-08-18
Ordinance No. 3

An Ordinance Providing for the ts-
suance BY the Park District of the
City Of Fargo, North Dakota, OF
Thirty Thousand Dollars (S30,00ol
Bonds of Said District, Heretofore
Authorized by Ordinance No. 2,
Amending the Conditions Of Is
suance as Prescribed in Ordinance
No. 2, and Prescribing the Form Of
Said Bonds and OF the Interest
Coupons to be Thereto Attached,
and Fixing Other Details Of the
Issue,
Whereas, the Park District of the
city of Fargo, North Dakota, is Park
District legally and regularly organic
ed and existing in accordance with the
terms of the laws of the State Of North
Dakota; and
Whereas. by Ordinance No. 2, ap-
proved April oath, 1911, it was enacted
that negotiable bonds of the said dis
tract b0 issued to the amount OF Thir-
ty Thousand Dollars ($30.000), and q
tax be levied for the payment of prin-
cipal and interest of said bonds; and
Whereas said bonds have been duly
sold co Wells and DicSey Company for
net less than the par value thereof,
and Il is desirable that Ordinance No.
2 shall be amended in order to provide
the form of the bonds and to make the
levy and collection of an annual tax
suffacient to pay the interest and prin-
cipal OF such bonds more definite and
certain and that the principal and i'm
F.oT a
National Bank OF the City OF Mime
apoliS. Minnesota:
Now Therefore, Be II Enacted by the
Park Commissioners Of the Park Dis
triet OF the City OF Fargo, North Da-
kota:
section 1. That Park District bonds
be ISSUED in the aggregate sum of
Thirty Thousand Dollars (s3o,000),
which bonds shall be dated July l..
1911, and shall be In denomination Of
Five Hundred Dollars ($500) each,
numbered consecutively from One ~
to Sixty (60), Of which bonds NUM-
bered One CD to Fifteen (15) inclusive
shah he due and payable April /, 1916;
bonds numbered Sixteen (16) to Thir-
ty fS0) inclusive shall be due and pay
able April /, 1921; bonds numbered
Thirty -one (s1) to Forty-fiv G45) in
elusive shall he due and payable April
1, 1926, and bonds numbered Forty-six
(4e) 60 Sixty (60) inclusive, shall be
due and payable April /, 1881, with
out option of prior payment. and said
bonds shall be on interest at the rate
of Four and One-half (4h) per cent
per annum. payable annually on the
first day OF April of each year, which
interest shall be evidenced by interest
coupons attached to each bond, and
both principal and interest shall be
payable In lawful money Of the United
States Of America at the Security Ma
tional Bank, in the City of Minneapolis
and State of Minnesota.
Section 2. That each of said bonds
and each of the interest coupons to be
thereto attached. shall be In substan-
TALLY the following forms respectively,
to-wit:
(Form OF Bond.)
UNIFIED STATES OF AMERICA
STATE OF NORTH DAKOTA,
COUNTY OF CAsS.
PARK DISTRICT OF THE CITY
OF FARGO. NORTH DAKOTA.
PARK DISTRICT BOND.
KNOW ALL MEN BY THESE
PRESENTS, That the Park District
of the City of Fargo, North Dakota,
hereby acknowledges itself to owe, and
for value received, hereby promises TO
pay to bearer. the sum OF
FIVE HUNDRED DOLLARS
$4,000 lawful money Of the United
States OF America, on the first day or
April 19..... together with interest
thereon at the rate OF Four and One
half Per Cent. (4k) per annum, pay
able annually on the first day OF April
of each year, upon the presentation
and surrender of the coupons hereto
attached as they shall sererally be-
come due. both principal and interest
payable at the Security National Bank
in the city of Minneapolis and State
Of Minnesota.
For the prompt payment Of this
bond, both principal and interest, when
and a. the same become due, the full
faith and credit of said Park District
OF the city OF Fargo, North Dakota,
are hereby irrevocably pledged.
This bond is issued pursuant to Or
iinances duly enacted by the Park
Commissioners of said Park District
prior to the execution hereof, and In
strict compliance with Chapter It's Of
the Laws of North Dakota, 1907, and
with the provisions OF the Revised
Codes or North Dakota, 1905, and the
amendments thereof and supplements
thereto, and for the sole and exeassve
purpose OF purchasing and acquiring
lands for parks. boulevards and WAYS
and for permanent improvements
thereof, including the erection and
construction Of buildings, paviiions,
play and pleasure fields.
And 1t ID hereby certified and re-
cited that all acts. conditions ana
things required to be or to be done
precedent TO and In the issuance or
these bonds, have been properly done,
happened and been performed In regu-
lar and due form and time as required
by law and that the total indebted
ness of said Park District including
this bond. does not exceed any lirnita-