Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1918-08-07
oRDrMANE no. as7.

AN ORDINANCE AUTHORIZING the Is
Bonds Of the city Of Grand Forks.
Grand Forks county, North Dakota, and
providing for the levy Of annual taxes
for the purpose of paying the principal
of said bonds.
WHEREAS, the city Of Grand Forks,
of North Dakota, has outstanding legal.
binding, and subsisting' Indebtedness to
the amount Of $4,000, evidenced as
follows:
funding Bonds, dated November l.
1897. and bearing numbers 1 to so
Inclusive;
said bonds having been duly, properly,
standing and constituting the legal,
binding. and valid Indebtedness of said
city; and
and unpaid, and, in the judgment OF this
city council, it is deemed for the best
interests of said city that the indebted
ness thereof, evidenced by the bonds
aforesaid. be renewed and refunded, and
that Reminding Bonds of said city be
NOW, THEREFORE,, Be it Ordained
by the city council Of the city of Grand
Section l.. There is hereby ordered
issued the negotiable coupon ond Of
said city OF Grand Forks. county Of
ITdlu fOThS, anu Sldle Ol INOTlll Ia
kota,. in the aggregate amount OF $4,000
for the purpose of renewing and refund
ing the legal. binding, n subsisting in
debtedness Of said city now outstanding.
in an aggregate amount of 10000, and
evidenced by the bonds of said city de-
scribed in the preamble hereof, and each
of which sale bonds was in all respects
duly. properly. and legally issued and is
Section 2. That the bonds hereby
authorized to be issued be denominated
R%efunding bonds. be Of the denomina-
to 30, both numbers included, be dated
May i. 1918, become due and payable
in numerical order, $4,000 on May first
of each of the years 1924 to 1898. both
terest at the rate of five per cent per
annum payable s~emi-annually on the
first days Of May and Of November of
be evidenced by proper oupon attached
to each of said bonds; hat each of said
bonds shall be signed by the mayor and
attested by the city auditor. and shall
registered by the city treasurer: that
said coupons shall be signed by the
mayor and attested by the city auditor.
proy'd sidn that at the stt mayo sr apd c city auditor Tor
their respective fac smile signatures
and said officials shall, by the execu-
tion of said bonds. adopt as and for
spective fac simile signatures appear
ing on such coupons: and that both prin-
cipal and interest be payable at Harris
Trust and Savings Bank. Chicago. Illi-
each of said bonds by thejcity treasurer.
statutes of North Dakota.
coupons and certificate Of the city treas
urer. be in substantially the following
forms:
SFo IF OF BOND!
STATE OF NORTH DAKOTA. COUNTY
OF GRAND FORKS
CITY OF GRAND FORKS
REFUNDING BOND
The city of Grand Forks, in the county
Of Grand Forks, and state OF North Da-
kota, for value received. promises to pay
lawful money Of the/United States Of
America, on the first day of May. 1924.
with interest IN said sum from the date
hereof until paid, at the rate OF five
annually on the first days Of May and
of November in each year. on presenta-
ticn surrender of the interest cou-
interest payable At Harris Trust ana
Savings Bank. Chicago. illinois, For
the prompt payment of this bond and
interest nnssscsson tn ef and ISr sne levy ana
purpose. the full faith. credit, d re-
sources Of safd city are hereby irrevoc-
This bond Is issued ~ the citv y
Grand Forks for the purpose Of refund.
ing . Ike amount OF ita legal, bindinr
and subsisting ~indebtedness. ev1denced
Il properly ISSUED and outstanding g
the date OF the passage Of the ~ordinence
authorizing the issuance hereof, pursn.
ant 70 the provisions OF Article N,
North Dakota, 1S13. 50 amended. ana