The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1916-12-28
PAGE EIGHT
RESOLUTION No. 213

FOR PAYMENT OF SUCH BONDS.
BE 1T RESOLVED BY THE CITY COUNCIL
OF n CIT OF BROOKINGS, SOUTH
DAKOTA,
WHEREAS, The Guy Of Brookings, South
Dakota, has heretofore issued It's bonds anC
the same are now outstanding as follows:
Water works bonds $32. 00O.O 90, dated july
LIST, 1901. due July 1st, 1921, being payable
at the option OF said city after ten years
from date. Refuuding bonds $15,500.oO. dat
ed July LIST. 1908. due July lst, 1923, beinf
payable at the option or said CITY after five
years from date. Water~orks bonds s15,-
600. 90. dated July LIST. 1907, due July LIST
1927; being payable any time after ten years
from date. All Of said bonds bearing inter
est at five per cent per annum. payable semi
annually.
The CITY Of BrookIngs also has a floating
Indebtedness represented by registered war
rants aggregating $4,000 90 In various de-
nominations. all or which bear interest al
seven per cent per annum.
II appears that said bonded
Indebtedness and said floating warrant In
debtedness can be refunded at n lower rate
of interest than the existing rate OF interest,"
on said indebtedness under and by virtue OF
sections 1as5 to 1890 inclusive Of Political
Code Of 1903. Of the State Of South Dakota
as amended by Chapter ~ Of the South Da-
kota Session laws OF 1907.
II IS HEREBY RESOLVED that II -
deemed IN the iudRment ~ this Council 60 Doc
- the beel interests Of this cry % issue Us
negotiable bonds in the name OF the CRY Oh
Brookngs for the sole purpose OF rounding
said bonded Indebtedness and SAID foatiHR
warrant Indebtedness and there Is hereby
authorized the execution and issuance OF
bonds ~ refund said indebtedness; that
the bonds hereby authorized be ~ ln number,
numbered from one 20 ~ both Inclusive
That there shall be r. bonds Of the denOm.u-
alton o. one Thousand Dollars each. and II
bonds of the denomination OF Five Hundred
Dollars each. an ot said rouds 20 have Inter
est coupons attached 1r' aI NJ said bonds
small dated january .0th. 1919 and bear
interest ~ the rate ~ four and one Dol: per
cent rr- annum payable seni-annaaly on
the goth day Of january an' the 4Ata day ~
July n .ach year a- fAe Minneapolis Trust
Co. At Minneapolis MINI. Ai - said bonds
shall become lg. tWent" years from date bat
$4,000 0u OF said bonds shall however Dee
payable a. the option ~ tae CITY ~ Brook
ings On any .aterrst due date afte~ five
years from date and 2l ~ me resi ot s-la
bonds shall ,. payable at the epsilon OF me
CITY ~ Brpakinrs on t0F Interest Que dti-
after lar Gears from date SAID bonds shall
be known as FluSinE Bonds and the bonds
and coupons shall De- in s-hstaH tta4f iH-
fouoRt.g form.
UNITED STATES or
stat - South Dakota. city of Brookings
Funding Bond, 40. ......-.
t.......-..
Know AL Men By These Presents, That on
the goth day % January. lFbt the 'ty =
Bs0okings ~ fhs State - South Dakota. for
value received hereby promises 20 pay bearer
the sum cf.....-.. ..... ...... DDlltfS Jaw
fGi money % the United states with Interest
thereon At the rate ~ four and one half per
cent per annum payable s-mi annually upon
presentation and surreuGer of the annexed
coupons as they sevefally become due. both
principal and Interest payable AZ The Mime
apolis Trust CO. AZ Minneapolis. MN.
HIS BOND Is however payable az the
option OF the city OF Brookings on any inter
est due date after ..........y years from It's
date.
Eqr the propnt pawmruf Of both prIUCiDal
and interest the fun faith. credit and re-
sources Of said City are hereby irrcvocably
pledged.
This Bond Is one OF SO bonds OF like date
aggregating the sum of $77500.0O Issued for
the purpose Of funding outstanding bonded
indebtedness and boating warrant indebted
ness or salu CITY OF brooklhgs' pursuaht TO
resolution OF said city duly prepared in
strict compliance with the Constitution ard
laws OF the State OF South Dakota. %particu-
larly sections 1885 to 1890 inclusive OF the
Political Code OF South Dakota or 1903, as
amended by the Session Laws or south Da-
kota of 1907.
1T is STtPULATED that all
conditions, acts ana thihgs tequ'reu preceu
ent to and in the issuance OF this Bond have
existed, happened and been performed in
required by law; that the amount OF this
Bond. together with NIL other Indebtedness
or said CITY does not exceed any constitu-
tional or statutory limitation ana that pro-
Vlsloh mas peen maze TOT the CORRECTION OF an
annual tax sufhcient to pay interest hereot
and principal when due.
IN said city or
brookings IN the county OF brookihgs ana
state or south Dakota' acting through us
CITY Counci mas caused this bond TO DE
signed by It's Mayor ana attested by its CITY
Auditor ana its corporate seal afhNed ana has
caused the annexed interest coupons TO be
executed with the fac-simile signatures or
said officers ana THIS BOND Is dated this 2Vth
day or January. lsl7.
II, u. Mathews,
Mayor.
Attest:
q. III. Stoddart,
City Auditor.
The interest coupons attached 10 said bond
shall be substantially in the following form:
No. ........,..
$,........,.. January goth, 1917
On the goth day of January) (July), 10.
the City OF Brookings, OF Brookings County,
South Dakota. will pay bearer. .....,.....,.
dollars. at The Minneapolis Trust CO. at
Minneapolis, MINI. being the semi-annual
interest on It's Funding Bond, dated Janu-
airy Goth. 1917, number. ...........
No.
II. B. Mathews,
Mayor.
Attest:
O.. II. Stoddart,
City Auditor.
Said bonds shall be signed by tn. Mayor
and attested by the Cit, Auditor with the
seal OF the CITY affixed and interest coupons
shall be executed by the fac-simile signatures
NJ said officials when M executed said