The Glasgow courier., 1915-09-10

012.21, which with the interest ac-
crued thereon to August 1, 1915,
amounts to the sum of $143.366.54, |
or any part thereof, except by and
through the issuance of the funding |
bonds of the said county in exchange |
for and in order to redeem and pay
the said indebtedness as and in the |
manner hereinabove and hereinbefore |
mentioned; and
WHEREAS, It is by this board
deemed and it is hereby declared that
the interests of the county require it.
and that it is not alone necessary but
expedient and desirable that the ne
gotiable funding bonds of and by the
said county in the aggregate prin-
cipal sum of $143,000 be issued IN
exchange for and in order to redeem
and pay like amount of the indebt-
edness Of said county now outstand-l
i"!. &C and unpa'o rs aforesaid:
NV, .he, efore, in consideration of
BE IT REsLovED AND ORDER
ED BY THE BOARD OF COUNTY
COMMISSIONERS OF VALLEY
COUNTY, MONTANA, as follows:
Section l. That the amount of war
rant Indebtedness Of said county law
fully incurred only for the ordinary
and necessary expenses of the county
authorized by the constitution and
general laws of the state and evidenc-
ed by the valid and legal general,
road, contingent, bridge and poor fund
warrants, respectively, of said county,
outstanding on August l, A. D. 1915,
and still outstanding, due and unpaid.
be and the same is hereby ascertained
and determined by said board to be
$170.281.13, exclusive of interest, and
which Indebtedness represents the ag-
gregate principal amount of warrants
mentioned in the report of the county
clerk and referred to in the preamble
hereof, and it is hereby further as.
certained and determined by said
board that of the principal amount cf
said outstanding warrant indebted
ness. there were issued prior to March
| 16, 1915, warrants aggregating the
principal sum of $135,012.21, which
with the interest accrued thereon to
August /, 1915, amount to $143,-
366.54, and it is hereby further as.
certained and determined by said
board that in erecting any bridge, and
building the approaches thereto, or in
erecting any county buildings, or in
constructing, providing or improving
any road or highway in said county
payment for which was made all OF
in part by the issuance of any OF said
warrants. the said county did not fol
, any single purpose incur any lndebt'
edness or liability to an amount ex'
ceeding $4,000, and at no time since
the organization of the said county
has it's Indebtedness exceeded five pei
+ centum of the assessed valuation o1
the taxable property in said county.
: Section 2. That the total indebt
edness of said county now outstand
1 ing, of every kind and character, in
: cluding all contract, bonded, warran
: or other obligations and floating in
= debtedness, be and the same is hereb!
Y ascertained and determined by sai'
r board to amount to the sum of 1878,
;, 281.13, of which $2O3,OOO is repre-
Y sented by bonds of the county and tn
d remainder represents the warrant in
r, debtedness mentioned in the report o
: the county clerk referred to in tn
: preamble hereof.
e Section 8. That it be and hereb
Y is certified, recited and warranted tina
: neither the validity of the said wal
: rant indebtedness. or any of said war
: rants, or any of the said indebtedness;
or the exchange of bonds with whic
s to redeem and pay the same, has eve
+ at arv time, or in any manner. bee
, questioned, contested or med.. the sub
= i It Of actual or threatened judi"is
int,,.iry, action or proceeding.
+ Section 4. That it be and it is here
by asce, tanned and determined by "a;
board that there are no funds in tn
e treasury of the county available fo
i the payment of any of the indebte:
v ness hereinabove and hereinafter me'
! toned. and in particular that porto
v of said Indebtedness represented b
the warrants of said county bearin
: sundry dates prior to March 16, 1911
! or any part thereof, and that thel
= is no other way of meeting or pawn
- the said Indebtedness but by the iss,
! ance of funding bonds in exchange fe
and in payment of the said indebted
- ness.
Section S. That it be and it is b
I3Q WW u