The Ward County independent., 1921-05-26
oapxxAncR no. Is

PAYABLE IN F0uR iNsTAEL
MENTS OF sso.ooo;e9 IN FIVE. TEN
FRon EIETshH xrh ASP D. lSSAHIr TWENTY TnAHs nhAK
ING INTEREST At THE RATE OF
SIX PER CENT (Sssl PER ANNUM
PAYABLE SEMI-ANNUALLY FOR
ERECTION or A DAM. SWIMMING
POOL. BATH HOUSE AND OTHER
PERMANENT IMPROVEMENTS OF
PARK PROPERTY ALONG THE
coMMlTTEEs REpoRT FILED. &C.
CEPrED AND ADOPTED BY THE;
BOARD ON THE: 9TH DAY OF
APRIL. 1920, SAID PERMANENT
IMPROVEMENTS TO BECOME a
SAID PARK DISTRICT: PRESCR1B-
ING A GENERAL FROM FOR SAID
BONDS AND DETAILS OF THE IS
SUE. AS WE'LL AS THE LEVYING
OF TAX FOR THE PAYMENT
BE 1T ENACTED by the park commits
sioners Of the Park District of the
City of Minot. North Dakota, as fol-
lows, to-wit:
of the City of Minot, North Dakota. is
SUE the negotiable bonds of said Park
District, in the aggregate sum of Two
Hundred Thousand Dollars, either the
DOndS themselves or the proceeds tnefe-
of 10 be used for the purpose of pur-
chasing additional Park property, the
erecting. building and paying for per-
manent improvements as follows, to-
wit: 4 concrete dam across the Mouse
River, bath house, swimming pool and
equipment. Oak Park Station h use. an
imal house, steel and canvas around
skating rink fencing, graveling drives,
play ground equipment, lighting system.
bear den, boat landings, rustic shel,e",
Sk,, t,,,.. ,t,>t,, ,t,fSs
camps. water works extension. provid-
ing of trees, walks. toboggan slides.
cleaning and clearing grounds, all. in
a general way, as contained in report
of committee adopted in April. 9Th, 1920.
with such changes and additions as
may be determined npon by a vote Of
the board, hereafter all this in accord
ance with resolutions. adoptions Of COM
mittee reports and other record acts Of
the board heretofore or hereafter made
and in accordance with the statutes of
the State Of North Dakota.
SECTION II. Said bonds shall be
four hundred in number and shall be
in denomination Of five hundred dollars
400, both inclusive and each of said
bonds shall be dated May lst, 1921.
and one-fourth of them shall be payable
May lst, 1925, one-fourth of them May
LIST, 1881. one-fourth May 1st, 1896, and
May LIST. 1s41. and shall bear
interest at the rate Of six percent $50
per annum. payable semi-annually, on the
lst day of November and May of each year
which interest shall be evidenced by in
terest coupons attached to each bond.
and both principal and interest shall be
payable in lawful money of the United
States of America. at the office Of the
Treasurer of the Park District of the
City of Minot. North Dakota, or at the
option of the holder, on the giving of
thirty days previous written notice if
payment through New York is desired.
SECTION III. The bonds of each of
be of the same form except as to time
Of payment of principal, shall be pay
able TO bearer and shall specify the pur
pose for which they are issued in gen
.ral terms; that they are issued pursuant
to the statutory law of the State of
North Dakota and this ordinance; they
shall certify that all formalities Of law
as to time, manner of issuance, etc,
have been complied with; that for the
prompt payment of each bond. both
credit and resources of Park District
If the City Of Minot are irrevocably
pledged and that provision has been
made for the collection Of an annual
Park District sufficient to pay the prin-
,ipal and interest OF each and all of said !!
ponds when and as they shall become
lue and payable. Said bonds shall be |
'lBneu Dy the pfeSluent or Vlce-preSldent
If this Board, countersigned by it's clerk
md shall have affixed thereby the cor
oorate seal Of ,the Park Board. Interest
coupons representing all interest to fall
lue on the bonds shall be- attached to
printing or lithographing thereon, the |
'ac smile of said president or vice /
president and clerk.
SECTION Nv. That the interest to
all due on said bonds shall be payable I
atr11- nf
,eing considered for the best interests |
If the Park Board.
SECTION v. The President or Vice
President Of the Board Of Park Commits
# Minot, North Dakota and the Clerk !
# this board are hereby authorized and |
lirected to respectively sign and coun-
ersign such bonds in accordance with
he terms of this ordinance. and to
nix the corporate seal thereto and in
he execution of the interest coupons at
ached to said bonds. the fac simile
signatures of the president or vice.
and Park Board Clerk may be
printed or Autographed, and the said
shall be delivered to the Treasurer Of
he said Park Board, who shall certify
% the legality Of the Issue and make
proper registration Of each Of said bonds
and the said Park Board Treasurer
shall, when directed by resolution of
his board, deliver such bonds in num-
oers and amounts, and to such person
or persons. as this board may order and |
rs it may deem to the best interest of /
and most advantageous to said Park |
District, when selling and disposing Of !
The same, and such sale or sales, or |
other disposition Of such bonds, when |
SO made, are in all things, ratified and
confirmed.
SECTION VI That for each of the
years hereinafter numbered, there shall
be and there is hereby levied and assess
ed upon the taxable property within |
said Park District Of the City of Mi |
not, North Dakota. sufficient tax to
pay the principal and interest of said
bonds, in the following amounts, to-wtt:
For each of the years 1921 and 1910.
both inclusive. the sum Of $12,OOO,00l |
for the payment of interest on said
bonds and for each of the years 1921
and 1910, both inclusive, the sum Of
Ten Thousand for principal on said
bonds, which said sums for the payment
of principal and interest shall be set
aside when collected in an interest and
sinking fund or funds and shall be
used for the sole purpose of paying
the principal and interest on the bonds
described in this ordinance when due. |
Passed first reading. May 10th, 1921. |
Passed second reading, May 18th. 1921.
D'' * K. II. HI bMERsoN.
President Of the Board Of Park
Commissioners Of the CITY az
Minot, North Dakota.