Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-03-12
ORDINANCE NO. 24s.

ORDINANCE NO. 24s.
An ordinance entitled: IAN ordi-
nance authorizing the executing and
sale of certain negotiable bonds OF
the City of Bismarck, North Dakota,
in the amount of Forty-fve thousand
($45, 100000 Dollars, bearing interest
at the rate of four percent per an.
mum, payable annually. The pro-
ceeds of said bonds to be used for
the sole purpose of constructing a
municipal auditorium in said city, the
same to be issued pursuant to the
vote Of the qualified electors of said
city, voting at special election held
for that purpose on the 5th day OF
February, 1912; also levying an an
nual tax upon all taxable property
within the corporate limits of said
city for the purpose Of providing
funds with which to pay the annual
interest on said bonds, and create a
sinking fund to pay the principal
thereof when due; also authorizing
the sale of said bonds to the State
of Norta Dakota ut par"
BE IT ORDAINED by the Board of
CITY Commissioners of the City OF
Bismarck:
Section 1. The President of the
Board Of City Commissioners Of the
City Of Bismarck, and the City Audi
tor OF said city. are hereby author.
ICED, empowered and directed to ex'
ecute negotiable bonds OF said city,
in accordance With the provisions OF
Chapter n of the sessio laws Of the
e.ate of North Dakota of 1911, In the
amount Of $45,00O00, bearing inter.
est at the rate of four percent per
annum, said interest to be payable
annually, and to be represented by
coupons attached to each bond and
numbered from 1 to 20 inclusive, said
bonds to be designated Municipal
Auditorium Bonds of the City of Bis.
marck", and numbered from 1 to 9
inclusive, and shall be each for the
sum of $5OO0.00, dated April LIST, A.
D. 1912, and shall by their terms ma
ture in twenty years from the date
of issue. Said bonds to be signed by
the President of the Board OF City
Commissioners of said city and at
tested by the City Auditor, and the
corporate seal of the City Of Bis
marck shall be affixed to each bond,
but not to the coupons. Each coupon
shall be signed by the President OF
the Board Of Commissioners of said
CITY and the City Auditor.
Section 2. There is hereby levied
and assessed upon all taxable, prop.
erty, both real and personal, In the
CITY of Bismarck, for each of the
years 1912 to 1881, both inclusive, an
annual tax for the purpose of pro-
yidirg funds with which to pay the
annual interest which will accrue on
the bonds provided for in Section l
Of this ordinance, and also to create
a sinking fund to pay the principal
On said bonds when due. Said taxes
So levied shall be in the sum of
$4O5O.OO for the year 1912 and each
succeeding year thereafter up to and
including the year 1881.
Section 3. It Is hereby made the
duty of the City Auditor of the City
of Bismarck, and his successors In
Office, to annually certify said taxes
to the Auditor of Burleigh County in
the same manner and at the same
time or times as the annual levy OF
taxes for other city purposes is so
certified according to law.
Section 4. There is hereby annu.
ally appropriate ToufSof the money
that shall come into the city treasury
from the levy Of taxes made by Sec.
ton 2 of this ordinance. the sum OF
$4,000 for the year 1913 and eacn
succeeding year thereafter up to and
including the year 1892, for the pur-
pose of paying the annual interest
which will accrue on said bonds, and
en- April list, 1882 the sum OF $45,-
10000 with which to pay the princ1'
pal Of said bonds, and all money 80
appropriated shall be used for no 9TH
er purposes whatsoever; provided
that the sinking fund 80 created may
be invested and placed out at interest
as provided by law.
Section S. The bonds herein pro-
vided for shall be executed In &C.
cordance with the will of the quail I:
fed voters of the City, of Bismarck
voting on the question Of issuing said
bonds at a special election held for
that purpose on the. 5ths day Of Feb
ruary 1912, at which time 400 votes
ere cast in favor Of issuing such
bonds and 100 votes were cast against
issuing such bonds. All money arts
Ing from the negotiation and sale OF
aid bonds shall be used and applied
exclusively for the purpose Of erect.
ing a municipal building to be known
IS a Municipal Auditorium, on Lots