The Newport miner. [volume] (Newport, Wash.) 1899-current, 1912-01-25
Commissioners Proceedings

Newport Jan. 16.-The Board of County Com,
mlssloners met pursuant to adjournment. All
members present. -, A..
The matter of bonding Pend Oreille county
for taking up outstanding warrants on current
exnense fund was discussed, and The following
resolution was introduced by l.. l.. Mathews
and recommended for passage, seconded by u:
R. Anterior. Resolution passed UNANIMOUSLY:
RESOLUTION.
Whereas, 1t has been determined by ana aP,
pears to the present qualified anu acting BOARD
of County Commissioners OF PenQ OTellie
county, state of Washington, that on this 10th
day of January, 1912, there are OUTSTANDING
against the current expense fund OF SAID county
OF Pend Oreille, state of Washington, warrants
regularly and legally issued by said county 70
the amount of one hundred and eight thousand
twenty three and 70-1O0ths dollars $l0o.OZ5 ~ I,
and it also appearing that the valuation OF tne
taxable property of said Pend Oreille county,
as ascertained by the last assessment mace LOT
state and county purposes, was and is tour mil
lion, eight hundred and two thousand, seven
hundred three and 00-l00ths dollars $4,oOz,,
10000 and that therefore the constitutional
limit of county indebtedness, which is one ana
one-half per cent of such valuation, amounts
to seventy-two thousand thirty and 54-l0Otns
dollars $72,030.54 , in said county OF reno
Oreille; and
Whereas, The said Board of County Commits
sioners of said county have Determined tna MAJ
the afore-descrIbed warrants and each ana
every thereof, were and now are valid, subslst-
ing and binding obligations OF said PEND
Oreille county, Washington; and
Whereas, The said Board of County Commits
sioners of Pend Oreille county, state OF Wash
1ngton, deem that the best interests OF said
county will be subserved by funding the coun-
ty Indebtedness evidenced by the atore-men-
toned warrants drawn on the current expense
fund of said county, in an amount equa! 70
seventy two thousand dollars $4,000 which
amount comes within the constitutional limit
of Indebtedness for the said county OF Pend
Oreille as hereinbefore determined; now
therefore. be it
Resolved by the Board of County Commits
siOners of Pend Ore1lle County, Washington
That, for the purpose of funding the valid out
standing Indebtedness of Pend Oreille county
Washington, there are hereby directed and
ordered to be issued seVenty-tWO u funding
bonds of one thousand dollars $1,000 each
numbered from one to seventy-twO, both lnclu
sive, which said bonds shall bear date the Isl
20 years after date, but payable at the op
ten 10 years after date; which said bond:
shall bear interest, evidenced by coupons, at 6
rate not to exceed four and One-half per cen
AZ per cent per annum, payable semi an
nua1ly. And both principal and interest o.
said bonds shall lie payable either at the Office
of the county treasurer of Pend Oreille county
Washington, or at the office of the state treas
urer at Olympia, Washington, or at the fsca
agency of the state of Washington, in the cit!
Of New York, state of New York; and sale
bonds shall be in substantially the following
form:
UNITED SKATES OF AMERICA,
STATE OF WASHINGTON.
NO - $1,000 o.
Pend Ore1lle County Funding Bond.
KNOW ALL MEN BY THESE PRESENTS