The Glasgow courier., 1915-09-10

ING ON SAID BONDS PROMPT
LY WHEN AND AS THE SANE
BECOMES DUE AND ALSO TO
CONSTITUTE AND MAINTAIN A :,
SINKING FUND SUFFICIENT TO
PAY THE PRINCIPAL THEREOF
AT THE TIME OF THEIR MATUR-
ITY; FIXING THE OTHER DE-
TAILS OF THE ISSUE AND DE-
CLARING AN ERGEN
WHEREBY THIS RESOLUTION
SHALL BE IN FULL FORCE AND
EFFECT FROM AND AFTER ITS
PASSAGE AND SHALL THEREAF-
TER BE IRREPEALABLE UNTIL
THE SAID BONDS BOTH AS TO
PRINCIPAL AND INTER ES T
SHALL HAVE BEEN FULLY PAID,
SATISFIED AND DISCHARGED.
WHEREAS, The said county has
an outstanding warrant Indebtedness
amounting to the principal sum o.
$l7O,281.13, lawfully incurred for only
the ordinary and necessary expenses
of the county authorized by the con-
stitution and general laws of the
state; that each item of said indebt-
edness represents a claim duly verl-
fed as to it's correctness and duly
presented to and legally examined
and allowed and approved and order
ed paid by the board of county COM
missioners of said county, and evl-
denced by a warrant duly drawn by
the county clerk on the treasurer OF
said county; that each item OF SAID
indebtedness represents q claim duly
verified as to it's correctness and duly
presented to and legally investigated:
examined, inspected, audited, allowed
and approved by the proper officer OF
said county, who did endorse his ap-
proval thereon as and in the manner
provided by law: that said warrants
were duly issued, numbered consecu-
lively in the order of their issuance,
and registry thereof made by the
county clerk. all as and in the man.
ner provided by section 3046, revised
codes Of Montana of 1907. that all
of said warrants were at the time
of their issuance delivered to the
payees therein named, respectively,
and that most all Of said warrants
have heretofore been presented to the
county treasurer for payment and
payment refused for want of funds,
and are now outstanding, due and un-
paid, together with interest accrued
thereon from the date of their re-
gistration at the rate of six (6) per
centum per annum; and which in
debtedness has been determined and
is hereby ascertained and declared to
constitute the valid, binding and sub
sisting obligations Of said county now
outstanding, due and unpaid, and to
pay which, or any part thereof, there
are no funds in the treasury of said
county; and it has been further de-
termined and is hereby ascertainee
and declared that in the issuance Of
the said warrants, the said county die
not for any single purpose incur an in
debtedness or liability to an amount
exceeding $4,000: and it has beer
further determined and is hereby as
certained and declared that in erect
ing any bridge, and building the ap
rroaches thereto, or in erecting an!
, county building, or in constructing O.
| building any county road or highway
|; payment for which was made by an!
of the warrants mentioned in the sai'
r report. the said county did not fo
any single purpose incur an indebt
edness or liability to an amount ex
ceeding $4,000, and at no time sine
the organization of the said count.
: has the total indebtedness thereof ex
!. coed 5 per cent of the equaljzcd as
sesScd valuation of the taxable pro
t rclty in said county; and
WHEREAS, The total Indebtedness
: of said county now outstanding, @
, every kind and character, including
! all contract, bonded, warrant, or othe
obligations and floating Indebtedness
n amounts to approximately the sum .
$373,2 ,281.13. of which $203, 900 is re
+. presented by the bonds of the coun
ty and the balance represents tn
e warrant Indebtedness hereinabove ant
e hereinbefore mentioned, and to pa.
j which, or any part thereof, there ar
e no funds available in the treasur,
! ! of said county; and
WHEREAS, The total valuation o
:, all of the taxable property in SAT-
county, as shown by the assessmen
roll compiled in the year 1914. a
finally equalized by the state boar
a Of equalization and the board of coun
! tv commissioners of said county TO
! state and county purposes, is $7,756,
: 446: and
d WHEREAS. Section 1905 of the re
. ,,:.oI ooIoc of Mor%opo Of 1907 a