The enterprise. [volume] (Harlem, Mont.) 1899-1926, 1916-01-20

steps tnat may be necessary to es-
tablish such legality and regularity
in the opinion OF our counsel.
We have deposited with you
guarantee in che amount of $4,000
to be held by you pending the full
f1lment OF our contract. Should our
attorney refuse to approve the legal
ity OF the Proceedings, the said am
cunt snail be Immediately returned
:: = g. - lR; Respectfully submitted,
+; NJ. w. HALSEY & CO.,
!? By =. wv. HALL, Agent.
And, Wkereas;S1t is deemed to the
best interest Of the county to accent
the proposition Of. N. w. Halsey &
Co., now, therefore,
: Be 1t Resolved, by the Board OF
County Commissioners of Phillips
county that the same shall be and
the same Is hereby accepted.
Whereupon Commissioner Whit
comb moved the passage of the fol-
lowing preamb BILE and resolution,
which was seconded by Chairman
Loss. And upon call of the roll, the
vote was as follows:
Voting "Yes'-two.
''Woting. "No''-none. !
Whereas, there are outstanding
against Phillips county it's warrants
legally issued prior to November 2,
1915, to the amount of $9O,527.2O,
par value, bearing interest at the
rate of six per cent per annum, and
in the amount of $3,432.51, par val
ue, which do not bear interest, since
the same have not been registered;
and
Whereas, none of said warrants
were issued, in whole or in part, for
an expense exceeding $4,000; and
none of the Indebtedness evidenced
by said warrants was, at the time of
it's creation, together with all other
Indebtedness of said county, in ex-
cess of the constitutional or statu-
tory limits of debt; and
Whereas, in addition to said war
rants Phillips county is indebted in
the sum OF $9o,732.57 to Valley
county and the sum of 16,163.52
to Blaine county, respectively, aris-
ing out of the creation of Phillips
county from portions of said coun-
ties of Valley and Blaine, the am
cunts of said Indebtedness to VAL
ley county and Blaine county having
been determined and certified to
this board in accordance with law;
and
Whereas, it is deemed for the
best interests of the county that the
Indebtedness evidenced by said
warrants and the Indebtedness to
Valley and Blaine counties be now
exchanged for funding bonds of said
county, now therefore,
Be it resolved, by the Board of
County Commissioners of Phillips
county, Montana, that for the pur-
pose of retiring the said indebted
ness by the exchange of bonds there
for there are hereby authorized to
be issued the negotiable coupon
bonds of Phillips county in the ag-
gregate amount of 100000, con-
sisting of 200 bonds of $1,000 each,
numbered l to 200, both inclusive
which said bonds shall bear date
of December l, 1915, and carry
interest at the rate of five per cent
UNI per annum, payable on July /,
1916 and semi-annually on the
fist days of January and July there
after and at maturity Of said bonds
Such interest to be evidenced by
coupons to be attached to said
bonds; both principal and interest
| to be payable at the office of N. w.
Halsey & Co. in the city of Chicago
Illinois. The said bonds shall ma
ture and be payable December
1885, and be redeemable at the op-
tion of the county on December 1
1888, or any interest payment date
thereafter as provided in section
2911 of the revised statutes of Mon
tana.
Be it further resolved, that said
bonds shall be executed as provide
in section 1905, revised codes OF
Montana, and, with the coupons
thereto attached, shall be in sub.
stantially the following form:
UNITED STATES OF AMERICA
STATE OF MONTANA, COUNTY
OF PHILLIPS
FUNDING BONDS
Know all men by these presents
State of Montana. is justly indebted
and for value received hereby prom
Uses to pay to the bearer on the LIST
day Of December, 1885, the princi
pal sum of
! OlNE THOUSAND DOl4lAARS
with interest thereon at the rate o
five per cent per annum, payable
July 1, 1916, and semi-annually up
on the LIST days of January and Jul.
upon the presentation and surrende
thereafter and at maturity hereo
of the annexed interest coupons a
they severally become due, boil
principal and interest of this bono
are payable at the office of N. w
Hasey & Co.. in the city of Chicago
and State of Illinois. For tn
prompt payment thereof, both prin
cipal and interest as the same be
come due, the full faith, credit ant