Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-10-26
GRAND FORKS HERALD, WEDNESDAY, OCTOBER rs, 1921
LEGAL NOTICES.
sPEcIA1 R1CAIx 1t;1011oH

Compiled Laws Of 1918, I. Hans Ander-
son, county auditor in and for the. coun.
tty Of Grand Forks state OF North pa
ing are the names Of Candidates. Con
stitutional Amendments la Initiated
Measures. which have been certified to
this office BY the secretary Of state and
Election ballots TO be voted upon al the
Recall Election to be held at the various
yoting precincts n The COUNTY If Grand
2sth day Of october. 1891, polls Is Is
opened at > o'clock in the mornfng and
Will continue open until . o'clock n the
afternoon Of that day, viz.
state Officers.
Lynn j.. Frazier. Hoople.
2. Rasnvald A. Nestos. Minot.
Attorney General. +"
sveinbjorn johnson, Grand Forks.
VIM. Lemke, Fargo.
COMMISSIONER Of Agriculture and Labor
John N. Hagan. Deering.
Joseph "A. Kitchen. Sentinel Butte.
CONSTITUTIONAL AMENDMENTS.
DEBT LI1kIT-BoND ISSUES.
Petition for Initiation OF Constitutional
Amendment Relating to the Issuing
Debt Limit. y
A Constitutional Amendment, amend
ing and r~e-enacting Section 1872, as
amended by Article 81 Of the Amend
nents TO the Constitution Of the State
to the issuing of bonds:
Reduces the total possible bonded
debt OF the state without security ana
for industrial purposes. Requires first
for all other bond issues under this sec
tion.
Provides that the Governor, State
Treasurer and Secretary of State may
issue and sell such bonds for certain
lars 0i5, ooo,o 100000, the proceeds Of
which to be used. to pay the debts Of
ING eb Sa not q to S exceed p. r1e Million Five
Hundred Thousand. Dollars ($2,5oo.-
used for the Mill and Elevator associae
Grand Forks project and provide work
lcl Not te- exceed Two Hundred Fifty.
aaeg. ~ x BPGl1ar = Ss:5o :oSo1, the pro.
debts OF the Home Building association.
Limits the debt that may be incurred
on account Of the state owned utilities,
Of the BOND us issue provided d f fos. . orders
Governor, State Treasurer, and Secre-
tary. of State to determine amount Of
bonds necessary to be issued n orders
notice to be given by publication in a
daily newspaper. Fixes not less Than fve
nor more than twenty years as period
Of maturity. Provides that bonds shall
interest at not to exceed ed six k per enc cent? 1ta"
Provides that bonds ma be sold and
delivered by the officials named with
out further authorization by state. and
that the proceeds shan be expended in
manner provided by law and this amend
ment. Provides for levying Of an an
nual tax to create a sinking fund to be
connection with YhA inNfAaficn ~ thu
Bank Of North Dakota Tor the payment
Of interest and the retiring OF the
principal upon maturity.
Requires that every law creating O
bond issue to be secured by a first mort
rage upon real estate shall provide for
q sinking. fund to. te created BY the
vision. Said sinking FUND to be used for
n payment Of principal and interest
Gives owners Of bonds the right to
principal n interest in case of default
by the state.
Limits ali future indebtedness to that
provided for in this Amendment except
suppressing Instruction and to provide
BE ~ ENAcTED BY THE PEOPLE
%, STATE OF NORTH DA-
That Section 1872 of the Constitution
OF he's State of North Dakota, as amend
ed BY Article 81 Of Amendments to the
Constitution. be amended and r~e-enacted
Section 1872. The state may issue
bonds. provided that ali bonds issued
safii iiien Seven IN a Hsndred 7 F sSss1 T Fl ss,ea
Dollars, ts7, 10000. oo). par value. shall
be secured BY first mortgages upon real
sstete in amounts not exceeding one
The Governor. state Treasurer and
Secretary Of State by joint action ara
hereby authorized to issue and sell
bonds Of the state of North Dakota Of
Seven Hundred Fifty Thousand Dollars.
0!.7so: oeo, eo,; which bonds may be Is
$4,000. 900. the proceeds to be used in
payment Of the debts and Liabilities Of
the Bank OF North Dakota;
s2.5oo. 600. the proceeds to be used to
pay the debts and liabilities Of the
North Dakota Mill and Elevator associa-
The state ia Pay owned 1ns e mil and o. e iemffstfs af
Grand Forks, and as working capital
for the operation Of such mill and ele-
Bonds Of the total par value not ex-
eeedine .sso.ooo; the proceeds to be
bilities Of the North Dakota Home
Building association.
by the state In connection with the Bank
of North Dakota, the Mill n Elevator
association; the Home Building associa-
terprises and Industries. is hereby I'm
tied to the amount Of the bond issues
herein specifically authorized.
sm ,m%nsi.te' IN ap Sov the :ao gts}s q 4rt thi.
urer and Secretary Of State shall deter
mine the o Of bonds necessary to
each Of the three issues herein author
s.e no, ana shall si w. notice thereof by
newspaper published at the seat Of gov
eminent. showing the, amount of bonds
then then 80 80 i fonnd nseessary: Like notice
suing Of all Of the bonds that may need
to be sold Of the issues and within the
limitations herein authorized.
turity Of any bonds issued hereunder,
shall be determined by the Governor,
state Treasurer and Secretary OF stats.
but such bonds shall mature in not less
from their dates n shall draw interest
{s%l. per annum. payable serni-annusiiy.
shall be, together with the interest
thereon exempt from taxation.
Such bonds shall be negotiated. sold
and delivered by, the officials hereinbe-
as h~ereinbefors provided without furth-
or authorization by statute, n the
proceeds thereof shall be placed In the
state treasury to be disbursed only for
the purpose for which such bonds are
authorized and then only a provided BY
Law.
The State Treasurer shall report to
Ely on the first day Of April all bonds is
sued n sold hereunder, together with
the rate of interest and the date Of ma
turity thereof, and such board shall levy
annually thereafter q sufficient state tax
on all taxable property within the state,
to pay the interest upon such bonds as
the, same shall become due. and to Gre