The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1919-11-28

purposes, and that all thereof except
salaries of county officers, were du-
ly authorized by this boards allow
ance of claims properly verified in
accordance with law, and that all of
said warrants have been duly drawn
by the county clerk on the county
treasurer and that all of them are
now outstanding and unpaid.
6. That all of the available moneys
in the General fund, Road fund, Poor
iund, Contingent lund, Bridge fund,
Fair fund and Land Classification
fund, should be applied to the pay
ment of outstanding General, Road,
Poor, Bridge, Contingent, Fair and
Land Classification warrants respect
lively, there should still remain n
paid an amount of General, Road,
Poor, Bridge, Contingent, Fair and
Land Classification warrants exceed
ing the amount named in the fourth
finding h~ereinabove.
7.That Kalman, Matteson & Wood,
Of St. Paul, Minnesota, after extended
negotiations with this Board, have Of
fered to assist it in completing an ex-
change of said warrants mentioned in
the fourth finding above for five and
one-half per cent funding bonds of
the county, as hereinafter described,
by purchasing such of said warrants
as they can secure, and as their coun-
sci may approve, and surrendering
them to the county in exchange for
such bonds, par and par.
8. That the issuance Of such bonds
in exchange for such warrants will
effect a material reduction of inter-
est payments and thereby be a dis
tinct advantage to the county and it's
taxpayers and will go toward putting
the county upon a cash basis, so as
to enable it to secure in the future
services and material at market prices.
8. That none of the warrants men,
toned in the fourth finding above was
issued for a single purpose, the ex-
pense of which, with all necessaries
and appurtenances exceeded the sum
of $9,500.00. ....
10. That at no time during which
any Of said warrants was issued, or
during which any contracts yer made
which resulted in any liability evil
denced by said warrants, was Valley
county indebted in every manner and
for every purpose in excess of five
per cent of the assessed valuation of
it's taxable property.
II. That the legality of none of
said warrants mentioned in the fourth
finding hereof has at any time been
questioned, contested or made the SUBJ
ject of actual or threatened judicial
inquiry.
IT IS, THEREFORE,, RESOLVED
AND ORDERED:
BY the Board of County Commits
sioners of Valley County, Montana,
Section /. That the negotiable cou-
pom bonds of Valley county, Montana,
are hereby authorized in the aggre-
gate amount of Seventy Thousand Dol
lars ($70, 000.00), to be denominated
FUNDING BONDS, in the denomina-
ton of One Thousand Dollars each,
numbered from n (1) to seventy
CO., inclusive, to to be dated Novem-
Der l, 1919, maturing July l, 1889, re-
deemable as to principal on January
1, 1885, or on any interest paying date
thereafter. Said bonds shall bear in
terest at the rate of five and one-half
per cent per annum, payable July l.,
1920, and OF the first days of jan
uary and July in each year there
after, both principal and interest. to
be payable at the First National Bank
in the City of st. Paul, Minnesota.
Section 2. The form of said bonds
and the interest coupons thereof with
the form of registration, certificate, to
be endorsed on each bond by the coun-
ty treasurer, shall be substantially as
follows:
No.. $1,000
United States of America,
State of Montana
County of Valley,
FUNDING BOND
KNOW ALL MEN BY THESE
PRESENTS, That Valley County, in
the State of Montana, is justly in
debted, and, for value received, here
by promises to pay the bearer on the
First day of July, 1889, the principal
sum of
ONE THOUSAND DOLLARS
($1,O00.00), with interest thereon at
the rate of five and one-half per cent
per annum, payable on July I, 1920,
and on the first days Of January and
July in each year thereafter, as evil
denced by and upon the presentation
and surrender of the annexed inter-
est coupons hereto attached as they
severally become due. Both principal
and interest hereof are payable in
lawful money of the United States of
America, at the First National Bank
in the City of St. Paul, Minnesota.
M, H. ~ -