The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-02-10

/ have hereunto set my hand and of
: fetal seal of said Office this ------- da
: of -.--------------, ID.
w. L. TIDLAND,
County treasurer in and TO
Roosevelt County, Montana
SECTION III. That upon the ex
e%cution of said bonds as required b,
statute and in the form hereinabov'
provided, and upon the registration
thereof by the treasurer and his en-
dorsement of such registration upon
each bond, the Treasurer shall de
liver said bonds at one time, or from
time to time, without restriction q!
10 the particular numbers 50 10 D,
delivered from time to time, in ex
change for a like amount of the war
rants then outstanding which have
been issued against the General fund
Contingent fund, Gopher Extermina.
ton fund, Road fund, Poor fund
Bridge fund, Classification fund ano
Special Highway Project fund, prior
TO the 1st day of November, 1920,
dollar for dollar, that is to say, that
he shall count the value of each war
rant as the face thereof and all in
terest legally accrued t~hereupon, and
shall count the value of each bond
as $1,000, collecting from the reel
pient of each bond the interest which
has accrued thereon from July l,
1920, being the date of said bonds,
to the date of actual exchange. and
Immediately upon making any such
exchange the warrants received in
exchange shall be cancelled and ex-
tinguished as obligations of the coun-
ty. provided, however, that all or any
of said bonds may be delivered to the
Drake Ballard Company which is
hereby appointed Fiscal Agent of the
county for the purpose of conduct
ing such exchange, such delivery to
be made in escrow, with the under
standings, to be made in writing and
signed by the proper officer or Of
fcers of said bank and by the County
Treasurer, that said bonds are re-
ceived by said bank only for the pur-
pose of exchange in accordance with
this section of this resolution and
order, and that warrants received by
said bank in exchange shall forthwith
be delivered to the County Treasurer
for cancellation or shall be cancelled
by said bank in his presence; and
when any exchange and cancellation
of warrants shall have been made
hereunder the County Treasurer
shall forthwith make and file with the
county clerk his certificate of such
exchange and cancellation, which
may be, if made in the presence of
officer or officers of said bank, at
tesetd by said officer of officers.
SECTION ". That in order to
the payment of the principal
and interest of said bonds as the
shall fall due, there shall be
and hereby is levied upon all the tax
able property within Roosevelt coun-
5y, a direct annual tax in each year
while any of said bonds shall be out
standing, which tax shall be sufficient
% meet the interest payments as they
fall due and provide a fund for the
'etirement of the principal at matari-
~.
SECTION v That the intent Of
his resolution and order is to provide
iolely for the exchange of bonds for
variants, and not for the sale of
UGH bonds or the borrowing of any
money upon same, all to the end that
warrant Indebtedness of the
.ounty may be redeemed without in
reasing the county's' Indebtedness
nd without borrowing money.
SECTION VI. That the issuance
nd delivery of bonds in exchange
or and to take up the legal o%utstand-
ne warrant indebtedness of the
ounty in the manner and upon the
erns set forth in this resolution is
eemed for the best interest and adj
antage of Roosevelt county.
The action being duly seconded by
Commissioner j.. H. Anderson and
he vote being upon the adoption Of
he resolution the following Commits
toner's voted AYE:
R. e. Patch, j. Fl. Anderson and
!. A. Weinrich.
NAYS: None.
The resolution was declared adopt
4. y
Commissioner r. E. Patch then Of /
cred the following resolution and
loved ifs adoption:
WHEREAS, the Board of County
commissioners of Roosevelt county.
-%ontana, deems it necessary to sell
ne Hundred Thousand Dollars ne
)tiable coupon bonds OF SAID county,
I'd
2. WHEREAS, the Board of :
ounty Commissioners of Roosevelt i
ounty, Montana, have received a
d on same from Drake Ballard
1mpany of Minneapolis, Minnesota,
4 same Of par and accrued inter-
t to delivery date for above des-
ibed bonds.
3. NOW THEREFORE BE IT
ESOIVED that the offer of the
AXE Ballard Company, M%inneapo- :
/, Minnesota, be and is hereby ac- :
pied for the above described bonds
on January LIST, 1880, in
2 amount of $4,000 and the same
,ount due on January 1st, 1881,
d annually thereafter until paid.
These bonds are each optional on
? interest date Immediately pre-
ling the respective maturity.
The resolution was seconded by
mmissioner J.. H. Anderson and
, vote being upon the adoption of
!, resolution the following Commits