The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1918-03-07

culture and Labor, giving full par
ticulars. Thereupon, the Commits
sioner of Agriculture and Labor
shall act for and on behalf OF the
board of county commissioners in
the sale or disposition Of any bonds
to be sold. He shall receive
sealed proposals for the purchase
of such bonds or any part there
of, after giving at Least ten days
notice in one leading daily news.
paper within the state, in two
leading daily newspapers without
the state, at financial ccnters, and
one newspaper within the county
for which bonds ara -. he issued.
together with such other publicity
as in his discretion is deemed adj
visable. He shall sell the bonds
of each county separately TO tn,
highest bidder TO-. cash but he
shall not sell them fo' less Than
par. and he may reject any or all
bids or postpone the sale from
time to time. not exceeding len
days, or in his discretion he may
call for new bids, provided. how
ever, that said commissioner may
sell or dispose of said bonds or
any part thereof to the state of
North Dakota or any board there
of, without receiving proposals
therefor, or giving notice. as hero
inbefore porvided, but he shall not
sell them for less than par.
Section Amendments Thai
Section 3476 of the Compiled Laws
of North Dakota. 1913 is hereby
amended and re-enacted so as to
read as follows:
Section 3476.-Tax Levied for
Sinking Fund. Bonds Registered
For the purpose of securing
prompt payment of the principal
and interest of said bonds. there
shall be levied by the board of
county commissioners at the time
and in the manner other taxes are
levied. such sums as shall be slt1i-
cient to Pay such interest. and in
addition thereto sinking fund
tax shall be annually levied TO pay
and retire said bonds at their ma
tluity, and it Sha!.. be he duty
of the county teraS ,r"r to pay
promptly the intrresi upon said
bonds as the same S!l.'il fall due
No tax OF fund provided for The
payment of such bonds. either
principal or interest. shall at any
time be used for any other pur-
pose: provided, however. t':a' The
board of county commissioners may
deposit any part or portion of tho
sinking fund herein provided for
in amy bank furnishing satisfac-
tory security to the state of NORTH
Dakota. which shall furnish to the
county a bond of indemnity to b.
approved by the board, and rc
ceivc interest on the same which
shall be credited to the sinking
fund. 1t shall be the duty Of tn,
treasurer when said bond or amy
coupons attached thereto are pai1
to cancel same by writing upon
the face thereof the word paid
and the date Of payment. BE
| fore the bonds are delivered to th,
purchaser. the treasurer Of the
county shall register them in f.;
book 10 b" provided for that pur
pose. known as the bond register
in which register he shall enter
I: the number of each bond, it's date
date of maturity. amount. rate o.
interest. to whom and where paya
F., bic: provided that said treasurer
shall receive a per centrum at tn,
discretion OF the county commits
sioners. not to exceed one per cen
for the receiving and disblrsin.
of the amount received from tn,
sale of said bonds. said per cen
tum to be covered into the treas
ury as a part of the salary fund
! The board Of commissioners ma,
issue warrants instead of bond,
as now provided by law for the is;
suancc of warrants before this ac
became effective. if in their indg
ment the best interests of th'
county are thereby served: pro
vided. that such warrants shall
/ not be issued in amy amount 1,
! exceed five per cent of the assess
ed valuation Of such county. pro
vided. further. that such warrants
| shall not be sold below par: an,
provided. further. that such wal.
; rants shall not be term warrants
Section 5.-Amendment.) Tha
Section 3477 Of the Compiled Law:
of North Dakota, 1913 is hercb,
amended and re-cnacted so as t.
read as follows:
Section 3477.-Proceeds Uset
Exclusively to Purchase Seet
Grain and Fccd.> The fund arts
, ing from the sale of said bond:
shall be applied exclusively b,
said board for the purchase of see,